The only uncertainties in today’s global economy are how fast and to what extent globalization will continue. And those uncertainties become clearer every day.
Last month Ford Motor Co. sold luxury-vehicle icons Jaguar and Land Rover to India-based auto manufacturer Tata Motors Ltd. Manufacturing of the two nameplates, at least for now, will remain in Britain, and Ford will continue to supply engines, transmissions and other components for up to nine years.
Volvo Trucks reported January deliveries increased in all regions except North America, which had a year-over-year decline of 15%. Conversely, Volvo said deliveries grew in Asia by 47%, Europe by 32% and South America by 23%.
Navistar International Corp. recently entered into a joint-venture agreement with Mahindra & Mahindra Ltd. to produce diesel engines for medium- and heavy-duty commercial trucks and buses in India. The engines produced by the company formed in the new joint venture – Mahindra International Engines Ltd. – will power vehicles produced under a 2005 joint venture between the two companies. The announcement went on to say that, “Engine components will be sourced locally
