Thursday, 16 August, 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.

Recommended

  • European Central Bank  keeps policy unchanged; Draghi seen taking confident tone

    European Central Bank keeps policy unchanged; Draghi seen taking confident tone

    Later in the press conference, Draghi said they have an unchanged confidence about reaching the 2 percent inflation target. But with the risk of a global trade war still looming, it may not make a decision until absolutely necessary.
    Chemical weapons inspectors visit second site in Syria town

    Chemical weapons inspectors visit second site in Syria town

    However, Syrian Ambassador to Russia Riyad Haddad said that S-300 missile systems had been delivered to Syria last month. Syria and Russian Federation , a key ally of Assad, strongly deny the Syrian government was behind the attack.
    Meek Mill has been released from prison

    Meek Mill has been released from prison

    Meek Mill , who was sentenced after violating his probation on a drug and weapon's case regained his freedom on Monday. After his release, Williams said in a statement that the five months he spent in prison "have been a nightmare".
  • How rich is the new royal baby?

    How rich is the new royal baby?

    The boy was born at 11:01 a.m.in London on Monday to Catherine, the Duchess of Cambridge, with her husband Prince William on hand. Prince George guided his little sister into the Lindo Wing by putting his hand on her shoulder as they walked down the corridor.
    WhatsApp Raise Age Limit & Millions Of Teens Banned From Next Month

    WhatsApp Raise Age Limit & Millions Of Teens Banned From Next Month

    It has made substantial changes in the past, including allowing users to download a copy of their data from the app. Prior to this and for the most part with regards to online services, it requires users to be at least 13 years old.
    Google Is Giving Gmail a Makeover

    Google Is Giving Gmail a Makeover

    For business users, the G Suite admin will have to enable these new features by enrolling in the G Suite Early Adopter Program. Notwithstanding, the choice wasn't accessible for us right now, so the take-off is by all accounts slower than anticipated.
  • LeBron James sinks three for buzzer-beating win

    LeBron James sinks three for buzzer-beating win

    The window is now open Friday for James to eliminate the Pacers for the fifth time in the past seven seasons. And by play, we mean just give James the ball and see what happens. "We talk about it tonight".
    Slate Belt musician who wrote 'Schoolhouse Rock' songs is dead at 94

    Slate Belt musician who wrote 'Schoolhouse Rock' songs is dead at 94

    Jazz musician Bob Dorough , the chief composer of the " Schoolhouse Rock " cartoon series, died Monday at the age of 94. Dorough released his first album, Devil May Care , in 1956.
    Third Judge Blocks Trump's Bid to End DACA

    Third Judge Blocks Trump's Bid to End DACA

    While the previous decisions came from judges appointed by President Bill Clinton, Bates was nominated by President George W. Trump, they've also ended up hurting Dreamers by sapping the urgency of Congress to take up a more permanent reform.
  • Trump Lawyer Will Plead Fifth in Porn Star Case

    Trump Lawyer Will Plead Fifth in Porn Star Case

    Attorney who made her chief of the organized crime task force, according to "Gangbusters", by Michael Stone. He said there are still "about a dozen" cell phones and iPads the government expects to turn over Friday.
    Toronto police eye deadly van attack suspect's cryptic message

    Toronto police eye deadly van attack suspect's cryptic message

    If that Facebook post was indeed Minassian's suicide note, we know it without catching up on incel slang - we've seen it before. He said he was exacting revenge against the world where women rejected him and men were getting the sex and love he didn't.
    Russell Westbrook scores 45; Thunder beat Jazz to avoid elimination

    Russell Westbrook scores 45; Thunder beat Jazz to avoid elimination

    The Jazz came out of halftime on fire, with Mitchell opening the third quarter with a fancy left-handed scoop shot in the lane. The Jazz used an 11-2 surge in the second quarter to open up a 52-37 lead on Gobert's dunk with 3:23 remaining.

Snapchat's Spectacles 2 are Here, But Does Anyone Care? Snapchat's Spectacles 2 are Here, But Does Anyone Care? Plus, every photo and video will automatically be captured in high-definition (1,642 x 1,642 and 1,216 x 1,216, respectively). An overabundance of inventory caused the company to write down almost $40 million in the third quarter.

Pelicans Pick Up 2018-19 Option On Alvin Gentry's Contract Pelicans Pick Up 2018-19 Option On Alvin Gentry's Contract These huge performances from the big three of Davis, Rondo and Holiday were critical for New Orleans' offensive improvement. The most recent matchup between the two teams was April 7, when New Orleans beat Golden State 126-120 at Oracle Arena.

Lightning to face Boston Bruins in 2nd round Lightning to face Boston Bruins in 2nd round The Capitals and Penguins await the start of the second round, when they will play each other for the third straight postseason. On David Pastrnak's third period goal, the Bruins' top line got back on track by returning to the basics.

Supreme Court Hears Arguments in Trump Admin's Third Travel Ban Supreme Court Hears Arguments in Trump Admin's Third Travel Ban Solicitor General, Noel Francisco, told the nine Supreme Court justices that the President's proclamation is constitutional. Katyal said, the president could have repudiated the statements he made, but he never did.

Here's India's likely schedule, venues and more Here's India's likely schedule, venues and more He added that the ICC threat to relocate the Champions Trophy might help the board's efforts in the end. In the World Cup 2019, the Indian team will now start their campaign against South Africa on June 5 .

Comcast Formalizes $30.7 Billion Bid for Sky Comcast Formalizes $30.7 Billion Bid for Sky Fox, which already has a 39 percent stake in Sky, first announced its 10.75 pound per share cash offer in December 2016. Fox said in a statement that it "remains committed" to its offer and "is now considering its options".

Top Trump Official Admits He Sold Access to Lobbyists as a Lawmaker Top Trump Official Admits He Sold Access to Lobbyists as a Lawmaker If you were a lobbyist who gave us money, I might talk to you. "We had a hierarchy in my office in Congress", [said] Mr. Among those who donated to his campaign were payday lenders , who gave him over $60,000.

Ford targets higher margins faster, to drop unpopular cars Ford targets higher margins faster, to drop unpopular cars Executives talked about the need to further improve operations in Europe and South America. Ford shares rose 2.6 percent to $11.40 in after-hours trading on Wednesday.

Facebook keeps earning despite data privacy scandal Facebook keeps earning despite data privacy scandal The government has also sought information about the entities working under CA along with the details of their directors. The company said it was increasing the amount of money authorized to repurchase shares by an additional $9 billion.

Captain 'Invincible' Patrick Vieira responds to Arsenal links Captain 'Invincible' Patrick Vieira responds to Arsenal links He said: "I do not want to influence the job for the next manager, but of course I have a high opinion of Luis Enrique". I don't know if there a ideal goodbye. (But) honestly, and seriously, no (I haven't been contacted).

Jurgen Klopp's update on Alex Oxlade-Chamberlain did not sound good Jurgen Klopp's update on Alex Oxlade-Chamberlain did not sound good Oxlade-Chamberlain has been in fine form in recent months and was picked to start in midfield during Liverpool's crucial semi-final first leg at Anfield on Tuesday night.

Asaram Convicted, Sentenced to Life in 2013 Case of Minor's Rape Asaram Convicted, Sentenced to Life in 2013 Case of Minor's Rape Asaram's spokesperson Neelam Dubey told reporters that his legal team will challenge the verdict in India's High Court. Nine witnesses in the two cases of rape against Asaram and his son Narayan Said were attacked, three of them died.

Karnataka wants Narendra Modi's idea of development: Sambit Patra Karnataka wants Narendra Modi's idea of development: Sambit Patra On the allegation that JDS elements are more powerful in Congress , he replied, "Deve Gowda had expelled me from the party (JDS)". Party sources said Modi, BJP's biggest crowd-puller, is likely to kick off a series of rallies in the southern state from May 1.

Ronaldo? Real must worry about Lewandowski - Heynckes Ronaldo? Real must worry about Lewandowski - Heynckes Bayern Munich's David Alaba is set to undergo a late fitness test as the Austrian worldwide faces missing the game due to injury. But this is where it gets tricky because the only salvation for Zinedine Zidane and his players is the Champions League .

CPM re-elects Sitaram Yechury as party's General Secretary CPM re-elects Sitaram Yechury as party's General Secretary Those who were included in the central committee when they were state secretary have to be replaced with new ones, they demanded. The last 12 hours leading to reconstitution of Politburo and central committee saw hectic negotiations.