Ford beat Wall Street expectations Thursday, driven in large part by cost reductions and strong sales in North America.
The company said it has been cost cutting across several departments. Costs were also comparably lower this quarter because Ford suffered a massive recall of its vehicles this time last year. Last year Ford had to recall almost 2.4 million vehicles spanning several models, such as the Mustang, Focus, and Lincoln MKC.
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Fiat Chrysler Automobiles has been working to expand Mopar, its parts and service division, over the past seven years.
Fiat Chrysler Automobiles said today it will invest $10.4 million to build a new Mopar Parts Distribution Center in Romulus as it continues to expand the national presence of its parts and service division.
Fiat Chrysler Automobiles said today it plans to spend $1 billion to retool its plants in Toledo, Ohio, and Belvidere, Ill., and create 1,000 new jobs as it shuffles its North American production footprint.
FCA said it will invest $700 million at its Toledo Assembly North Plant to prepare for the next-generation Jeep Wrangler and expand the production capacity of the SUV. The automaker said it plans to add about 700 jobs at that plant.