Published: Sun, April 29, 2018
Sport | By Ashley Hunter

Ford decides to not to invest in traditional sedans in North America

Ford decides to not to invest in traditional sedans in North America

The company is expected to keep its trucks, utility, and commercial vehicles which are apparently what's popular in the North American market.

The company said that it will not invest in next generations of Ford sedans in North America.

Hackett, 63, is choosing a route similar to the one Fiat Chrysler Automobiles used to pass Ford in North American profitability. Before starting Ford, Kreipke said, Henry Ford - the company's legendary founder and namesake - had worked on trucks as early as 1899.

Bloomberg, in breaking news, reported that Ford Motor, one of the icon of 20 century America, is planning to abandon the United States vehicle market entirely.

Note that the streamlining of their portfolio only applies to cars like sedans.

Dave Sullivan, manager of product analysis for AutoPacific, Inc., called the move bold but also not surprising. What might seem like a radical departure for Ford has, in fact, been years in the making. "Obviously, this has done well for brands such as Subaru".

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The deep cuts to Ford's vehicle 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 reported first quarter adjusted earnings of 43 cents a share, topping analysts' average estimate of 41 cents. The revenue result was a 7% increase while net income reflects a 9% increase over year-ago results.

Ford said its net income in the quarter was up almost 9.5%, to US$1.74bn, or US$0.43 a share, from US$1.59bn, or US$0.40 a share.

The second largest automaker by market share has announced that the plan is geared at cutting $25.5 billion in cost by 2022. The accelerated 2020 targets are enabled by $11.5 billion of cost and efficiency opportunities that span the entire company and include engineering, marketing and sales, manufacturing, material cost and IT. "In our effort to make electric vehicles more desirable, we will deliver vehicles with the capability, performance, and interior design that customers need and want, but without the fuel economy penalty they used to see", Hackett said.

"I think we have been on this path for a number of years", GM CFO Chuck Stevens told reporters this week, according to CNBC. The 2019 Ford EcoSport was rated by the EPA at 27 mpg city, 29 highway, 28 combined in its most efficient powertrain configuration: front-wheel drive and a 1.0-liter turbo-3. About $500 million of that came in the first quarter, Shanks said.

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