Ford cuts auto offerings down to Mustang, Focus Active crossover

26 April, 2018, 12:45 | Author: Salvatore Jensen
  • Ford cuts auto offerings down to Mustang, Focus Active crossover

The automaker says over the next few years, the Ford auto portfolio will transition to two vehicles: the best-selling Mustang and the all-new Focus Active crossover coming out next year.

The company's stock was up 2.6 percent at $11.40 in after-hours trading.

Ford has since also confirmed that only the next-generation Focus Active will arrive stateside, meaning the sedan and hatchback versions of the vehicle will not make their way to the USA market. Meanwhile, companies like Tesla have forced the hand of traditional automakers to adopt electrification in their vehicles.

Ford will, however, continue to offer its full gamut of trucks, SUVs and crossovers. We are determined to turn this business around right throughout the whole company. Lincoln now sells the mid-size MKZ and full-size Continental which share platforms with Ford counterparts. Sedan sales across the industry have been falling off the proverbial cliff in the last two years as consumers flock to utility vehicles.

The No. 2 USA 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.

Shanks suggested that Ford could reduce investment in certain geographic regions or exit them completely if it did not see adequate returns on the horizon. The company previously predicted $14 billion in cuts by 2022.




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

About $4 billion of the $11.5 billion in cuts would be accomplished in 2019 and 2020, Shanks said, with the rest occurring in the subsequent two years. We have looked at every single part of the business. He said the company used "hard work" to find more efficiencies after Hackett unveiled his plan in October.

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

Ford didn't reveal the fate of the sedans that are now in Lincoln's lineup, but said the luxury division as a whole is not in jeopardy despite it being a low performing area in the company.

Executives talked about the need to further improve operations in Europe and South America.

Despite the higher profit, Ford's adjusted pretax profit margin fell to 5.2 percent from 6.4 percent in the same quarter in 2017. Its Asia Pacific business swung to a $119 million loss, from a $148 million profit a year ago.

Recommended:

  • Officers shot at Home Depot identified; suspect in custody

    Officers shot at Home Depot identified; suspect in custody

    Describing the incident, Hall said an off-duty officer called police for assistance due to a shoplifting suspect at the store. The male officer, who was shot in the back of the head, has succumbed to his injuries, according to a local NBC affiliate.
    Egypt will allow body of 'assassinated' Hamas engineer returned to Gaza

    Egypt will allow body of 'assassinated' Hamas engineer returned to Gaza

    Israel says it is protecting its borders and takes such action when protesters come too close to the border fence. The pictures show two light-skinned, bearded men, one of whom was wearing glasses and a white and black helmet.
    BJP, RSS anti-Dalit & anti-Constitution: Rahul

    BJP, RSS anti-Dalit & anti-Constitution: Rahul

    Paswan, who holds the food and consumer affairs portfolio, said the Congress party lost 2014 election as it "cheated Dalits". In his address, the Congress chief focussed on the twin burning issues of Dalit rights and women's safety.
  • Sensex ends 165 points higher; Nifty settles at 10614

    Sensex ends 165 points higher; Nifty settles at 10614

    The benchmark BSE Sensex was down 52 points or 0.15 percent at 34,363, while the broader Nifty index was down 5 points at 10,559. The yield on the 10-year Treasury note climbed, settling just below the 3 per cent level.
    Conway Pushes Back on Media Attack Involving Her Husband

    Conway Pushes Back on Media Attack Involving Her Husband

    The former Trump campaign manager added there's a "difference of opinion when adultery is happening". She continued: "There has been a different standard for me than there have been for other people".
    Westbrook vows Rubio won't repeat stellar game

    Westbrook vows Rubio won't repeat stellar game

    Minutes later, Rubio hit a running 28-foot 3-pointer to make it 89-75 entering the final period. "It's huge. Utah certainly went all out with its presentation for its first home playoff game this postseason.
  • Bob Dorough of

    Bob Dorough of "Schoolhouse Rock" is dead at 94

    Born in Cherry Hill, Ark., on December 12, 1923, Dorough grew up in Texas, where he first learned how to play music. Bob Dorough , the musician behind many iconic educational songs from the " Schoolhouse Rock! ".
    Disguised woman kills husband's mistress before turning gun on herself: Cops

    Disguised woman kills husband's mistress before turning gun on herself: Cops

    Meredith Chapman was still married to her husband Luke but they were not living together.Jilted wife, Jennair Gerardot . Chapman left her post at UD earlier this month to take a job as an assistant vice president at Villanova University .
    Trump considers posthumous pardon of boxer Jack Johnson

    Trump considers posthumous pardon of boxer Jack Johnson

    Flipper, the first African-American officer to graduate from West Point in 1877, after being unjustly accused of embezzlement. But it was his conviction in 1913 that ended his boxing career and unfairly tarnished his reputation for years to come.
  • Facebook posts record revenues for first quarter despite privacy scandal

    Facebook posts record revenues for first quarter despite privacy scandal

    Early this month, Zuckerberg fended off questions from U.S. senators about how the organisation could be regulated more closely . Yet despite the challenges, Facebook's extensive role in advertising strategies was made apparent in the quarterly results.
    Obama Makes Melania Trump Smile and Twitter Erupts

    Obama Makes Melania Trump Smile and Twitter Erupts

    But when it comes to Trump's presidency and Trump the president, the morning panel noted there is a big difference. People also noticed that Melania was sitting next to Barack Obama during the funeral service.
    Saudi Arabia says intercepted Houthi missiles launched at Aramco facility

    Saudi Arabia says intercepted Houthi missiles launched at Aramco facility

    The coalition said another missile crashed in a Saudi desert on Sunday, without specifying a location, adding it caused no damage. On October 7, 2015, another air raid killed 43 people at a wedding in Sanaban village in the Dhammar governorate in Yemen .


Popular

Arsenal boss Arsene Wenger is addicted to 'Russian Roulette' of management
Arsenal boss Arsene Wenger was confident the majority of fans were always with him. "At the moment I am focused on tomorrow". Two years ago, we finished second [in the Premier League].

Alexa the robot saleswoman will follow you around the house
With numerous analog and digital watch faces, the Echo Spot has the real chance of taking a permanent place on your night stand. The reduction of the price attains great importance since Amazon has launched Echo Spot at a discounted price of Rs. 10499.

Lloyds Bank reassures investors on future of preference shares
Lloyds Banking Group plc ( LYG ) stock price sited at -9.74% from the 52 week high and situated at 16.56% from 52 week low. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.

Italy close to confirming Ancelotti as Azzurri Coach
Carlo Ancelotti has been formally approached to take over as the next manager of the Italy national side, according to a report. A new man is set to be installed by May 20, and it was widely assumed that would be Zenit St Petersburg Coach Roberto Mancini.

OnePlus 6 launch event to take place in London on 16 May
The report further stated that the said reader has been selected by the company for its new Lab programme which began last week. OnePlus has chose to go with a vertical camera setup this time, instead of the horizontal one seen on the back of OnePlus 5T .

Allison Mack Tried to Get Emma Watson to Join Her Sex Cult
Attorney's Office for the Eastern District of NY confirmed the news to Deadline, without giving further details or comment. Prosecutors argue that Mack would have women sexually engage with Raniere and would get paid for it.

Venkaiah Naidu rejects opposition's impeachment motion against CJI
It sinks the bar for a measure that requires utmost circumspection, maximum consensus and unimpeachable evidence. This is a very serious matter and we can't allow the cancer of corruption to grow.

In Iran-Israel Tension, Netanyahu Warns of 'Heavy Price'
The Prime minister addressed that it is 2018 and Iran openly speaks about liquidating Israel. However, he noted that the policy of controlling "flames" contains a large amount of risk.

Severe turbulence in Air India flight, window panel falls off; three injured
The nightmare flight - from Amristar to Delhi in India - was hit by the turbulence shortly after take-off at 15,000ft. Adding to the fear, a couple of oxygen masks had also deployed and the overhead panel cover of seat 12-U got cracks.

Taleban attacks kill 14 troops, policemen in Afghanistan
Tolo news further reports that by Sunday mid-day, there had been five attacks in less than a week against the election process. Health officials said the family had been driving past the voter registration centre when the explosives were detonated.