Ford Pulls All But Two Car Models In US Market

27 April, 2018, 01:18 | Author: Sally Reid
  • Ford dropping all but 2 cars from its North American dealerships

Ford said eliminating most of the company's cars except for two models will allow the company to focus on their "winning portfolio" in the U.S., Canada and Mexico.

In their quarterly report, Ford Motor Company confirmed their plans to discontinue the Fiesta, Focus, Fusion, C-Max, and Taurus models in the coming years, AutoBlog reported.

The company reported a first-quarter net profit of $1.74 billion, or 43 cents per share, up from $1.6 billion, or 40 cents per share, a year earlier.

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

Ford also unveiled plans to pare an additional $11.5 billion in costs between 2019 and 2022.

Say goodbye to the Ford Taurus. The move not only reflects a change in consumer taste, it could make the automaker more profitable, since margins are higher on SUVs than sedans.

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As for dealing "decisively" with unprofitable parts of the company, CFO Bob Shanks said small cars and "most Lincoln products" are among those losing money - does it make sense to continue with, say, the Lincoln Continental when there is no Taurus/Fusion with which to share costs?

It will enable the company to cut $25.5billion in costs by 2022, up from $14 billion in cuts it announced last fall.

"Given declining consumer demand and product profitability, the company will not invest in next generations of traditional Ford sedans for North America", said the automaker.

By 1992, Taurus was the best-selling auto in the USA, topping the

The decision comes as sales of passenger cars continue to decline while sales of SUVs and crossovers continue to climb. Ford's present lineup consists of six sedans and coupes in North America.

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. In announcing the gutsy move, Ford CEO Jim Hackett said in addition to whacking the cars, at the same time the company plans to almost double its cost-cutting goal to $25.5 billion from the $14 billion he announced in October. It's a realization some executives (see: Marchionne, Sergio) have made faster than others, but one that felt inevitable for Ford, especially given Hackett's musings about operational fitness and cost cutting.

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