Ford to Discontinue Almost All its Cars in North America

Ford to Discontinue Almost All its Cars in North America

Ford has stated that nearly nine out of every 10 vehicles it sells in 2020 will be a truck or SUV, so grab your Focuses, Fusions and Fiestas while you can, ye Ford faithful.

In March, Ford executives unveiled ambitious plans to shift the struggling automaker's product portfolio from passenger cars to SUVs, add more hybrid and pure electric vehicles, and reduce development and manufacturing costs - aimed at boosting profits and the automaker's share price. There's also the potential for new cars combining the "best attributes of cars and utilities, such as higher ride height, space and versatility".

"Everything will be on the table", Shanks said.

"Our intention is to raise the level of performance on all parts of the business through fitness", Shanks told reporters at Ford's headquarters near Detroit.

"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 will have a very diverse passenger vehicle business", Farley said.

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Ford has since also confirmed that only the next-generation Focus Active will arrive stateside, meaning the sedan and hatchback versions of the auto will not make their way to the US market.

Ford will cut $5 billion from capital spending from 2019 to 2022, reducing it from $34 billion to $29 billion.

The No. 2 U.S. automaker said 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's marketing and sales division is likely to see a large portion of cost reduction. "I don't think they're done yet".

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

America's love affair with crossovers is causing an April massacre as Ford has finally confirmed plans to kill all sedans in North America. The company previously predicted $14 billion in cuts by 2022. The announcement, buried in the company's first quarter earnings, confirms recent speculation that stalwarts such as the Ford Fusion and Taurus are dying off. 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. The entire team is focused on improving the operational fitness of our business, as well as meeting and exceeding our accelerated 2020 target of 8 percent margin and ROIC in the high teens.

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