Ford Will Stop Making Cars - Except These 2 Models

Ford to Cease Production of Sedans as it Looks to Boost Profits

Ford hasn't made an official announcement on Lincoln yet, but Ford CFO Bob Shanks said small cars and "most Lincoln products" are among the unprofitable products.

Ford said by 2020 it expects 90 percent of its offering will be trucks and SUVs. It includes Mustang, a fifty-year-old sports vehicle model of Ford, and Focus Active, a new active crossover auto model of the firm that is likely to be launched next year.

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.

"We are committed to taking the appropriate actions to drive profitable growth and maximise the returns of our business over the long term", said Ford CEO Jim Hackett.

Killing the sedans is part of Ford's overall plan to increase profit margins to 8 percent by 2020 by slashing $11.5 billion in costs across the company.

As usual, North America drove Fords profits for the quarter with pretax earnings of $1.9 billion. Company spokesperson Daniel Barbossa says that of the phased-out vehicles, the Taurus is the only one made in the USA, at the company's Chicago factory.

The cuts are aimed at kick-starting a turnaround effort nearly one year after Ford's board ousted its chief executive officer. "In a conference call on Wednesday, the chief executive said Ford will outline a full turnaround plan for investors and analysts on September 26", the NYT's Boudette reports.

The Mustang will be the only model which will be spared from Ford's slashing of its passenger-car lineup in North America.

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

The move by Ford is obviously dictated by market trends, which are undergoing a sea change away from four-door sedans and towards utility models.

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

Ford finds itself on a road similar to the route Fiat Chrysler Automobiles NV followed to pass Ford in North American profitability.

"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. Let us know which models you will miss and your overall thoughts on Ford's decision to tighten up their lineup.

Related News:

  • $1.44 EPS Expected for EQT Midstream Partners, LP (EQM)

    As per Wednesday, April 11, the company rating was maintained by Mizuho. "Buy" rating has 5, "Sell" are 1, while 1 are "Hold". The ideal time to sell a stock is usually when it is trading higher than its target price range or during overheated markets.
    DOJ is investigating Huawei for violating Iran sanctions

    DOJ is investigating Huawei for violating Iran sanctions

    US authorities have subpoenaed Huawei seeking information related to possible export and sanctions violations, two sources said. Ciena and Infinera, of course, compete with both Huawei and ZTE in global markets (except China ).
    Mohamed Salah, Liverpool's Egyptian King, crowned PFA player of the year

    Mohamed Salah, Liverpool's Egyptian King, crowned PFA player of the year

    Salah will now be raring to go for when his side host Roma in the first leg of their Champions League semi-final on Tuesday (7.45pm).
  • Home Office immigrant removal targets: what we know

    Home Office immigrant removal targets: what we know

    Rudd said at a lunch with reporters in parliament that it had been "a hard few weeks", but she was committed to the Home Office. Ms Rudd became Home Secretary - taking over from Theresa May - in 2016, a year after the last known targets were set.
    Allison Mack freed to parents on $5 million bail

    Allison Mack freed to parents on $5 million bail

    Mack is credited in publicly available materials with co-creating a Nxivm program, called The Source, which recruited actors. After a while, she began to recruit other women to join the group that masqueraded as a club that helped and mentored women.
    Jamie Redknapp: Why Alexis Sanchez's struggles at Man United hasn't surprised me

    Jamie Redknapp: Why Alexis Sanchez's struggles at Man United hasn't surprised me

    While that is impressive, United are still far far behind the team on the other side of town and De Gea knows it. Manchester United made a big move by letting Zlatan Ibrahimovic go after his struggles with fitness this year.
  • Comcast tops 21st Century Fox's Sky bid

    Comcast tops 21st Century Fox's Sky bid

    Roberts said the Sky board's withdrawal of its support for Fox's offer was "the flawless step as far as we are concerned today". United Kingdom regulators have balked at allowing Fox to gain total control of Sky so that's where we are at this point.
    Playoff Delly returns for surging Milwaukee Bucks

    Playoff Delly returns for surging Milwaukee Bucks

    Boston won, so there's not much reason to question Stevens' decision of benching Jayson Tatum down the stretch in Game 5. Playoff Delly is an actual thing, and he's arrived just in the knick of time for this Milwaukee Bucks squad.
    Koulibaly gives Napoli victory as Juve lead cut to one point

    Koulibaly gives Napoli victory as Juve lead cut to one point

    Then, at the death, José Callejón's corner was powered into the back of Gigi Buffon's net by Senegal worldwide Koulibaly. It would put them seven points clear of Napoli , allowing them some breathing space in the final month of the campaign.
  • Oblak unsure over Atletico Madrid future

    Oblak unsure over Atletico Madrid future

    Atletico Madrid defender Juanfran is set to miss both legs of the club's Europa League semi-final tie with Arsenal because of a hamstring injury.
    Swedish FA: 'Zlatan Ibrahimovic will not be in Russian Federation  with Sweden'

    Swedish FA: 'Zlatan Ibrahimovic will not be in Russian Federation with Sweden'

    This statement immediately responded coach Janne Andersson of Sweden , who said that the services of a veteran does not need. Ibrahimovic retired from worldwide soccer in 2016 after scoring a national record of 62 goals in 116 games.
    NASHVILLE, Tenn | Man who disarmed Waffle House shooter hailed by lawmakers

    NASHVILLE, Tenn | Man who disarmed Waffle House shooter hailed by lawmakers

    Reinking drove to the Waffle House parking lot early Sunday and sat there for about four minutes before opening fire, police say. Attorney's Office for the Central District of IL , which includes Tazewell County, declined to comment on the situation Tuesday.


Most liked

Man Utd vs Arsenal, preview
The way to get around teams who deploy a defensive-minded approach is to constantly try different methods of breaking them down. When asked about a potential summer departure for De Gea, Mourinho responded: " No chance ".

No, Johnny, no: Browns sure top pick Mayfield is no Manziel
A little suspense goes a long way when it comes to something that has been talked about to death already. Cleveland hopes to see him continue to be a 1,000-yard back after using one of its picks on him.

Chicago Bears take Georgia ILB Roquan Smith No. 8
Smith saved perhaps his most impressive performances for the Bulldogs' most meaningful showdowns in 2018. His time was the second fastest among all linebackers at the combine. "This guy checks all the boxes".

Instant analysis of the Steelers pick of Mason Rudolph
They're already familiar with Heinz Field. "I knew it as soon as I got selected, like, I can't wait, it'll be fun", Rudolph said. Rudolph said he sent offensive coordinator Randy Fichtner a text a few days ago reminding to think about him come draft night.

USA economic growth slowed in 1st quarter
The year is off to a sluggish start for the US economy - and a decline in spending on clothing and footwear is partly to blame. Moving forward, real GDP should grow by roughly 3 percent in 2018, which would be the strongest growth rate since 2005.

Deutsche Bank cuts more to fight earnings plunge
Paul Achleitner, now Deutsche Bank's supervisory board chairman, advised it on the purchase while at Goldman Sachs Group Inc. HSBC downgraded Deutsche Bank from a "buy" rating to a "hold" rating in a report on Monday, January 8th.

Ford Will Stop Producing Most Sedans For North American Market
The automaker says it made $1.74 billion, or 43 cents per share, compared with $1.59 billion, or 40 cents per share a year ago. Ford took steps on Wednesday to bolster its operations in China, a key overseas market, where sales have been flagging.

Patton Oswalt credits late wife Michelle in Golden State Killer case
McNamara had questions because she knew the Golden State Killer's freedom would eventually come to an end. Candace Creech says she started crying from the shock of hearing the news of DeAngelo's arrest.

Flyers hope to mature, learn from playoff mistakes
Now Philadelphia has to do it again at home , a place where the Penguins outscored the Flyers 10-1 while rolling in Games 3 and 4. Then, Jake Guenztel went on a scoring rampage, scoring three-in-a-row, pushing the Penguins into a 7-4 lead in the 3rd period.

Disgraced FBI Boss's New Book OUTSELLING Clinton, Wolff — COMEY CASHES IN
Comey has always maintained that he did not leak any classified information. Jon Burge as well as former Sun-Times owner Conrad Black.

AT&T rolls out '5G Evolution' in more than 100 new markets
The carrier said that it is slowly shifting towards real 5G , but it needs to upgrade its cell towers first to make that happen. That means there is a good chance you will see 5G Evolution advertised in or near where you live in the coming months.

USA calls on International Monetary Fund to do more to address unfair trade practices
The US has rattled financial markets with a series of provocative moves in recent weeks. China has received information that U.S.

Syracuse University Permanently Expels Theta Tau Fraternity
Maldonado said the university will not release the videos. "By the end of this weekend , DPS will begin recommending charges". They will be providing an update on the status of the "investigative, student judicial, and disciplinary processes".

Mitt Romney faces Senate major in Utah after state GOP conference setback
Kennedy edged Romney in the vote among convention delegates, 51 percent to 49 percent, according to The Salt Lake Tribune . But the 2 men have shown fresh indications of burying the hatchet, also Trump's approval has been accepted by Romney.

Apple To Replace Some MacBook Pro Laptop Batteries
Apple is to offer replacement batteries for some MacBook Pros fitted with batteries that have swollen due to a component failure. Apple is replacing a number of 13-inch MacBook Pro batteries after reports of a defect causing the built-in battery to expand.