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 "Schoolhouse Rock!" Composer Bob Dorough Dead at 94
Apr 26, 2018 - 12:42
From there, they branched out into grammar, American history - to coincide with the U.S. Bethel, Pennsylvania, a spokesperson for Dorough told TheWrap.

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 How to get the new Gmail right now
Apr 25, 2018 - 16:00
Users can also perform simple tasks like deleting or snoozing a message or RSVPing to an event by hovering over the message. Notwithstanding, the choice wasn't accessible for us right now, so the take-off is by all accounts slower than anticipated.

isis-killer-beheading-video-story-top These Are BJP's "Star Campaigners" For Karnataka Election
Apr 25, 2018 - 15:59
Addressing the media after filing his nomination in Badami, Sriramulu said he was bowing to the party high command's decision. The state poll has literally turned out to be a battle between present and former Chief Ministers, Siddaramaiah and B.S.

isis-killer-beheading-video-story-top Judge shoots down Trump DACA decree in big win for Dreamers
Apr 25, 2018 - 15:59
The scheme was created in 2012 by then President Barack Obama to shield children of undocumented immigrants from deportation. Immigration activists cheered Tuesday's decision but the Justice Department said it will continue to defend the phaseout.

isis-killer-beheading-video-story-top Boston Celtics: 5 Takeaways Celebrating the Boston Three Party
Apr 25, 2018 - 15:56
If just a few of those shots had gone in, the Bucks would not have been in a position where the blown call impacted them as much. Middleton scored later and was fouled to get Milwaukee within 84-79, but he failed to complete the three-point play.

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 Thunder Thrashed in Game 3 Loss to Jazz
Apr 24, 2018 - 04:54
At the other end of the floor, Gobert, not exactly renowned for his offense, has been a big factor, averaging 15 points a night. George has proven to live up to that with his play on the court through the first couple of games in the series.

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 OnePlus 6 to launch in India soon, Amazon opens 'notify me' registrations
Apr 23, 2018 - 21:58
How To Get Free Avengers: Infinity War Tickets? But this offer is only open to existing OnePlus smartphone owners. OnePlus has used ceramic and glass before for the back panel so we don't know what will be the new one.

isis-killer-beheading-video-story-top Congress-Led Impeachment notice step against CJI Dipak Misra gets Rejected
Apr 23, 2018 - 21:57
The former Union Law Minister told the media: "The order by the Chairman is unprecedented, illegal, wrong and unconstitutional". Senior Supreme Court lawyer Prashant Bhushan also criticized Venkaiah Nadu for rejecting the impeachment motion.

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".