«The numbers being talked about today are not technically possible,» Mulally explained in regards to the CAFE proposal, adding that a better solution would be to tax fuel more at a higher rate, similar to what they do in Europe where prices can reach up to $6 per gallon. We’d like to see how well that goes down with the American car buying public.
Meanwhile, at the same seminar, Mulally revealed that Ford was on track to return to profitability by as early as 2009 despite declining sales predicted for the US, reports Reuters. You may recall that just last year Ford lost a massive $12.5 billion, but things are already looking up. Ford announced a surprise profit of $750 million in the second quarter, so Mulally’s 2009 claim doesn’t seem so far fetched.