The automaker is nearly doubling a cost-cutting goal to $25.5 billion by 2022, Chief Financial Officer Bob Shanks told reporters Wednesday.
Since Ford recently refreshed its Fusion sedan for the second time, that auto will stick around the longest-at least for the next couple of years, according to company spokesman Said Deep. Ford sold about 466,000 of those vehicles in the USA previous year. The company has announced it will move away from producing sedans and hatches to concentrate on what sells; trucks, crossovers and the Mustang.
Signalling the changes in a statement, Ford said it expected 90% of its portfolio in North America to be made up of trucks, utilities and commercial vehicles by 2020. Now, we have some idea when heads will begin to roll. Four-door sedans and other passenger cars continue to fade from showroom floors.
Last year, the Chicago plant made 316,000 Explorer SUVs and 51,000 Taurus sedans, Felker said.
"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. And Japanese automakers also are likely to welcome less competition for some of their best-sellers, including the Toyota Camry and Honda Civic.
For the first quarter, the Dearborn automaker said it earned 43 cents per share, beating Wall Street analysts' average expectations by 2 cents per share.
Europe was the only region outside of the U.S.to turn a profit for Ford. Ford loses money on its small cars and most Lincoln models, according to Chief Financial Officer Bob Shanks. "We can make different investments, we can partner, we can exit products, markets - and we will do that".
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Goedert will likely line up all over the field for the Eagles, splitting out wide, at tight end, in the slot and in the backfield. And this is the ideal move to make sure you get better. "And I said, 'Man, that'd be the most incredible thing ever'".
Shanks said that rising costs for commodities, such as aluminum, steel and copper, were a almost $500-million drag on Ford's performance for the quarter. The automaker began the year flagging to investors that pricier raw materials including steel and aluminum would contribute to profit declining in 2018.
At the moment the Ford sedan lineup consists of the Fiesta, Focus, Fusion, C-Max, Mustang, and Taurus, but like we said that will now be trimmed down to two vehicles instead.
Ford said Wednesday that it will no longer sell sedans in North America.
However, Advertising Age noted that analysts predicted the future of the Lincoln Continental and MKZ sedans remain in doubt because they share platforms with numerous Ford marques that are due to be scrapped.
Ford expects to improve its capital efficiency.
Industry analysts said the announcement was not a surprise.