DETROIT -- Ford Motor Co. expects to exceed its annual goal to spend 10 percent of its U.S. purchasing budget on suppliers owned by women and minorities.
Ford said it maintained its 10 percent goal in 2009 by purchasing $2.7 billion worth of goods from Tier 1 companies owned by minorities and women. But that was a significant decline from $3.3 billion in 2008 and $4.2 billion in 2007.
Ford attributes the drop in spending to the decline in auto production.
"These are difficult times for all auto suppliers, but minority- and women-owned businesses face their own set of unique challenges," Tony Brown, Ford group vice president for global purchasing, said in a statement.
"Because of this, Ford took proactive action to offer our diverse suppliers significant business opportunities while at the same time providing support to others to improve their chances for long-term viability," he said.