By Sahid Fawaz
Ford made headlines yesterday when it cancelled the building of a plant in Mexico, instead creating 700 jobs in Michigan.
Shortly after, news stories popped up everywhere connecting the cancellation with Trump.
It turns out that Trump was not the main reason at all for Ford's decision.
"CEO Mark Fields told CNBC on Tuesday that President-elect Donald Trump wasn't the main factor when Ford decided to cancel its plans for a $1.6 billion plant in Mexico.
In an interview on CNBC's 'Halftime Report,' Fields said the decision not move forward with its San Luis Potosi, Mexico, plant was due to market demand.
'The bottom line is we're not seeing the volume and the demand that we expected for that plant. And, therefore, we're looking at our capacity and saying, "You know what, we can build that in an existing facility and use capacity that we already have,'" he said.
'Over the last couple of years we've seen small cars markedly decline. Every year we're looking at our capacity. We're looking at our forecast for demand. It became very clear that we didn't need this plant.'"
For the rest of the story, read the CNBC piece here.