Wednesday, 17 October, 2018

Ford pivots away from making cars, will focus on trucks and SUVs

Kenneth Drake | 27 April, 2018, 00:47

The deep cuts to Ford's auto lineup are part of the company's goal of creating "a winning portfolio and focusing on products and markets where Ford can win", the company said.

Ford recently announced that it will cut $11.5 billion in costs.

The company cited statistics that show almost nine out of 10 Ford vehicles bought in North America are trucks, commercial vehicles, and utilities.

Ford is not going to invest in the next generation of Ford sedans in North America including its full-size Taurus or midsize Fusion, said the company in its outline.

Ford Motor Company will reduce its number of vehicles to two vehicles by 2020.

The company is exploring new "white space" vehicle that combine the best of cars and utilities, such as "higher ride height, space and versatility".


The 9 percent increase in quarterly profit can be nearly entirely attributed to a drop in the automaker's effective tax rate to 9 percent from 28.6 percent, Ford officials said. The Focus Active crossover will make its debut next year. "The company now anticipates reaching an 8% profit margin by 2020, two years ahead of schedule", Keith Naughton writes for Bloomberg. The Fiesta, Taurus, Fusion and Focus (non crossover version) will no longer be available here in fact all over the United States and Canada. "Where we can raise the returns of underperforming parts of our business by making them more fit, we will".

The company recorded a 7% increase in revenue and a 9% increase in net income to $1.7bn in the first quarter.

Europe was the only other region where Ford was profitable - a $149-million pretax profit. Up to five hybrid-electric SUVs as well as a hybrid Mustang are also projected to be on sale by the end of the decade, as new technologies increasingly break the link between a vehicle's size and performance and its efficiency.

The lion's share of the automaker's quarterly profit was driven by high-margin pickup trucks and SUVs in North America.

The company's Oakville, Ont., complex now assembles the Ford Edge, Ford Flex, Lincoln MKX and Lincoln MKT - all sport utility vehicles. He has laid out plans to introduced several new SUVs as well as a range of electric vehicles, and until now had given few details on what financial targets he planned to hit, and how.

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