The company now anticipates reaching an 8 percent profit margin by 2020, two years ahead of schedule.
Ford isn't going to invest in the next generation of its "traditional" saloon (sedan) line-up in the States. Within a few years, Ford will offer only two cars in the United States: the Mustang sports vehicle and a new Focus variant with the shape of an SUV, Hackett said.
New auto sales data tells the story.
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. The Focus nameplate will live on only thanks to an all-new crossover variant called the Focus Active coming next year. Profits before taxes fell to $2.2 billion from $2.5 billion.
Comcast Taps Tulchan in Bid for Sky
Comcast also said it will give legally-binding commitments to maintain editorial independence at Sky News. It said on Wednesday it remained committed to its offer and was considering its options.
Old Trafford to host India, Pakistan World Cup clash
With the 2019 edition of the World Cup approaching, one would think that winning the tournament will be on his mind. It is believed that the CEC made a decision to go back to the old format to ensure recovery time for the teams.
Facebook's new ad campaign admits the social network has lost its way
The question for analysts will be whether the declines are truly Facebook's own design or a reflection of user preference. Despite gains Wednesday, Facebook's stock has slid 17 percent since an all-time high in February.
Speaking on Wednesday as the company reported first-quarter results, Chief Financial Officer Bob Shanks said 'we have looked at every single part of the business.We are driven to turn this business around'. That means the Ford Fusion and the Ford Taurus will be discontinued, joining the already defunct C-MAX and the Fiesta, which won't be back after this year, on the scrap heap.
The decision was made after a long decline in sales for cars like hatchbacks and sedans.
Revenue at Ford increased 7%, to US$41.96bn from US$39.15bn. Europe was the only other region to turn a profit for Ford.
Jim Farley, Ford president of Global Markets, announced on Medium on March 15 that trucks and SUVs would be making up most of Ford's offering. They may be experimenting with some new concepts as far as larger higher profile large vehicles. The company plans to have refreshed 51 percent of its vehicles by the end of 2019 in a process that began in 2017, and it boasted of 11 launches in 2018. Felker says Ford expected demand for those vehicles "to support the same number of employees as we have today". According to the company, SUVs will have a big impact on the market by 2020 so the manufacturer wants to jump on that bandwagon in the near future.