Ford To Stop Making Most Cars, Focus On SUVs And Trucks
Ford To Stop Making Most Cars, Focus On SUVs And Trucks
Ford To Focus On Trucks And SUVs, Only Offer Two Cars In US
27 April, 2018, 01:00
In their quarterly report, Ford Motor Company confirmed their plans to discontinue the Fiesta, Focus, Fusion, C-Max, and Taurus models in the coming years, AutoBlog reported.
Ford said eliminating most of the company's cars except for two models will allow the company to focus on their "winning portfolio" in the U.S., Canada and Mexico.
One of North America's largest vehicle makers is shrinking its product line to save money and stay competitive in the auto market, company officials said.
Ford Chief Financial Officer Bob Shanks told The Detroit News that those savings will allow for investing more heavily in light trucks and utility vehicles and in new mobility technologies. By 2020, nearly 90 percent of the Ford portfolio in North America will be trucks, SUVs and commercial vehicles, including electrified versions, Felker said.
Ford posted a net profit for its first quarter of $1.74 billion equal to 43 cents a share, up from last year's first quarter of $1.6 billion equal to 40 cents a share. Where would new customers turn for an entry-level offering when Ford's North American dealerships no longer carry a single sedan?
Shanks said Ford is unleashing the creativity of the teams to challenge norms, challenge conventions. Cuts and efficiencies are not done yet, he said.
That means the venerable Taurus, introduced in 1986, will disappear from Ford's line-up, along with the Ford Fusion.
Ford also promised to raise its operating profit margin from 5.2 percent to 8 percent by 2020, two years earlier than a previous forecast. The Mustang, a auto entwined in Ford's own brand identity, is safe for now.
Ford also observed that its average new vehicle sale prices was $36,300, outpacing the industry average for full-line OEMs.
"This is going to be disappointing to a lot of people who see the end of an era, but most of those people are over 50", said John Wolkonowicz, an automotive historian and former Ford product planner.
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