Ford accelerates cost-cutting plan, will drop most USA sedans

The Focus Active is a crossover-style compact

The decision to eliminate the entire sedan lineup in North America is drastic to say the least as even Fiat Chrysler Automobiles chose to keep the Chrysler 300 and Dodge Charger when it chose to focus on trucks and SUVs.

Ford said in a release that it's also exploring a new "white space" vehicle that would combine "the best attributes of cars and utilities, such as higher ride height, space, and versatility".

Shanks wouldn't say if employees would be cut but said nothing is off the table. Where we can raise the returns of underperforming parts of our business by making them more fit, we will.

The company said its net income for the quarter rose 9 percent due largely to a lower income tax rate, as the automaker promised additional efficiencies in the coming years.

"We're seeing consumers around the world, not just in the United States, move towards more SUVs as well as trucks and that's very positive for us", Shanks said. We are determined to turn this business around right throughout the whole company.

The all-new Bronco will be revealed next year
The all-new Bronco will be revealed next year

The Mustang turned heads at this year's auto show with the new take on Steve McQueen's "Bullitt" Mustang and a new Focus Active mini crossover. Shanks said the Lincoln brand is not in overall danger but noted that it lost money in China because it is in ramp-up mode there after being introduced in 2014. Cars sales have been declining industrywide. Almost half of the cuts would be in sales and marketing - through incentive optimization, reduced advertising and other actions - with the rest coming from engineering and product development, material costs, manufacturing and information technology, in that order.

Ford's revenue worldwide increased 7% to $42 billion for the quarter.

The announcement was made with little fanfare as it was tucked away in the company's first quarter financial results.

Ford says the Taurus and Police Interceptor sedan will end production in March 2019, with the imported Fiesta leaving the market in May of next year.

He said the company will cut $5 billion from capital spending from 2019 to 2022, reducing it from $34 billion to $29 billion. It lost $149 million in South America, 37 per cent less than in the first quarter of 2017, and earned $119 million in Europe, down 43 per cent. Ford is choosing the "much higher-performing" [in terms of profitability] utilities and not "traditional-silhouette sedans that tend to be commoditized".

Related news:

Hot News

isis-killer-beheading-video-story-top What data scandal? Facebook is growing
Apr 26, 2018 - 12:45
If users chose to restrict their data as much as possible on the platform, Ms Sandberg said it "would affect the product". The government has also sought information about the entities working under CA along with the details of their directors.

isis-killer-beheading-video-story-top WhatsApp raises minimum age in Europe to 16
Apr 25, 2018 - 16:07
However it is unclear at this stage how the Facebook owned company intends to enforce this increasing of the age limit. In line with Facebook , WhatsApp's minimum age of use will remain 13 across the rest of the world.

isis-killer-beheading-video-story-top Bayern has scores to settle against Real
Apr 25, 2018 - 16:03
Bayern are the only club left in the Champions League who can still win a treble. The Spanish side beat Munich 6-3 on aggregate last season in the quarter-finals.

isis-killer-beheading-video-story-top CPI(M) veteran Sitaram Yechury re-elected as party's General Secretary
Apr 25, 2018 - 16:02
Both could not find a place and instead CITU general secretary Tapan Sen and senior leader Nilotpal Basu made the cut. Meanwhile, the Kerala unit and others is of the stand that no change is required in the present committees.

isis-killer-beheading-video-story-top Asaram Bapu convicted in minor rape case
Apr 25, 2018 - 15:59
They expressed hope that Asaram will get the bail. "We were living in constant terror, our business was adversely hit", he said. He explained it was the maximum punishment for the crime under the Protection of Children from Sexual Offences (POSCO) Act.

isis-killer-beheading-video-story-top Milind Soman to tie the knot with Ankita Konwar tonight?
Apr 24, 2018 - 05:19
He indirectly announced his relationship with Konwar by sharing pictures with lovely captions for her on Instagram. Milind Soman who shot to fame in the late 1980s was in a relationship with former Indian model Madhu Sapre.

isis-killer-beheading-video-story-top Kipchoge wins third London Marathon as Farah breaks British record
Apr 24, 2018 - 05:16
Kipchoge took the win in 2:04:17, outside his own London Marathon course record of 2:03:05, set here two years ago. James Stockle was among the thousands of runners who took part in the 26-mile event yesterday (Sunday April 22).

isis-killer-beheading-video-story-top Mohamed Salah named PFA Premier League player of the year
Apr 24, 2018 - 05:12
Cyrille Regis' contribution to the game was recognised with a posthumous Merit award from the PFA . Bristol City's Lauren Hemp was named Women's Young Player of the Year .

isis-killer-beheading-video-story-top Metals Tied to Russia Slide on Softer Sanctions Position
Apr 24, 2018 - 05:12
The Treasury Department said the United States could provide sanctions relief if Deripaska ceded control of the company. The US statement also adds pressure on Deripaska as he tries to save the company without surrendering control.

isis-killer-beheading-video-story-top Conway Accuses CNN Host Of Harassing Her By Asking About Husband's Tweets
Apr 24, 2018 - 05:10
Conway accused Bash of trying to "harass and embarrass" her while her children were likely watching at home. I'm really surprised, but very, in some ways, relieved and gratified to see that".

isis-killer-beheading-video-story-top After rejection of impeachment motion, Rahul dares Modi to face him in
Apr 24, 2018 - 04:46
He said this because he believes that they did not want the rule of government but want the rule of the dynasty. Congress President mocked at PM Modi and said that he is having the only interest in becoming the PM of India.

isis-killer-beheading-video-story-top #BBNaija 2018 Edition May Have Made Over N5.1billion - Aside Adverts, Sponsorships
Apr 24, 2018 - 04:12
Miracle was a force to be reckoned with when it came to the games and competitions in the Big Brother Naija house. Miracle said, "I am not so used to this fan thing, but to everyone that voted me, I really appreciate".

isis-killer-beheading-video-story-top Landry wins Texas Open by two shots for PGA Tour breakthrough
Apr 23, 2018 - 21:57
He circled four birdies at holes 2 (from 17'1"), 5, 14 and 17, cancelled by bogeys at 6 and 8, and a 1-putt double bogey-6 at 9. He is the fourth Texas-born player to earn his first career win in this event, joining Ben Crenshaw, Bart Bryant and Bob Estes.

isis-killer-beheading-video-story-top Donald Trump considering pardon for boxer Jack Johnson
Apr 23, 2018 - 21:57
The House and Senate previously passed resolutions to posthumously pardon Johnson , but no president has granted the pardon. He then mowed down a series of " great white hopes ", culminating in 1910 with the undefeated former champion, James J.

isis-killer-beheading-video-story-top 2018 NFL Draft preview — NFC NORTH
Apr 23, 2018 - 21:55
Allen also fully participated at the NFL Combine, including the throwing session, which Southern California's Sam Darnold skipped. If the team wants to make use of his best years, they need to build a team around him now. "We are going to run it".