Only 2 car models to remain at Ford's North American dealerships
27 April, 2018, 00:17 | Author: Elaine Woods
The Model T, the '32 deuce coupe, the Thunderbird, the Mustang: For much of its 115-year history, Ford has been synonymous with cars. Hackett says the multi-year transition will leave the iconic Mustang and a redesigned Focus crossover as Ford's remaining cars.
The No. 2 USA automakersaid it now plans to cut $25.5 billion in costs by 2022, up from a total of $14 billion the company announced to investors last fall.
Ford predicted that by 2020, nearly 90 percent of its portfolio would be trucks, SUVs and CUVs, and commercial transportation like vans and police cars.
Ford "will not invest in next generations of traditional Ford sedans for North America", including the midsize Fusion and full-size Taurus, the company said.
In North America, Ford's largest and most important region, pretax profit was $1.9 billion, down $200 million from a year earlier. The company will instead focus only on high-profit models like trucks and SUVs. This change includes financial incentives like low-monthly payments, trade-in value of cars as well as the improvement of several factors from more fuel-efficient and better-equipped trucks and SUVs to improved safety ratings and ride qualities of these vehicles. As part of the move, Ford will be phasing out sales of traditional sedans and hatchbacks in the North American market.
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With global manufacturers seeking ways to enter new SUV and crossover segments, Ford is trying to utilise the worldwide popularity and doing its bit to expand the footprint.
That means the end of the road for slow-selling sedans such as the Taurus, Fusion and Fiesta.
However, it's most significant jump is that it is also spending a large amount of money on redeveloping its Dearborn factory in MI to start producing electric vehicles by 2020.
In the early '70s, American auto manufacturers reacted to incredibly inflated oil prices, emission restrictions and new safety regulations by downsizing engines, making smaller cars and scaling back on big, expensive designs. At the same time, it will begin building a new vehicle - the 2020 Lincoln Aviator SUV - which, along with an all-new Ford Explorer and police version of the SUV, should keep the plant in full swing, Ford spokeswoman Kelli Felker said Thursday.
In the meantime, make sure you update the app on your smartphone by going to the App Store or by tapping on the link below. The company is already working on iOS 11 .4, with a developer and public beta for users with an Apple developer account.
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