Ford now sells the Fiesta, Focus, Fusion, C-Max, Mustang, and Taurus sedans and coupes in North America reports TechCrunch, which notes that the Lincoln sedans are also expected to vanish. It is clearly saying any advantages the traditional sedan had (such as a lower center of gravity) are no longer enough to make up for a small- or medium-size crossover's greater space. Ford CEO, Jim Hackett has announced that going forward, the company will be focusing only on pick-up trucks, SUVs or commercial vehicles. New CEO Jim Hackett has been trying to convince investors that betting on a rebound is a worthwhile wager by laying out plans to get rid of slow-selling, low-margin auto models and refocusing the company around more lucrative sport utility vehicles and trucks.
One of North America's largest vehicle makers is shrinking its product line to save money and stay competitive in the auto market, company officials said.
On Wednesday, Ford expanded on this by adding that the remaining sedans it will be producing will be limited to the Mustang and the Ford Focus Active, a hatchback that's set to debut in 2019.
Ford's revenue worldwide increased 7 percent to $42 billion for the quarter.
Trump thanks Kanye West for Twitter compliments
Most people (including myself) have very different feelings & opinions about this. "I don't agree 100% with anyone but myself". Then-President-elect Donald Trump and Kanye West pose for a picture in the lobby of Trump Tower in 2016 in NY .
Why Is Ford Doing This?
And it's likely not the end of the dramatic moves coming out of Ford as it seeks to reverse its fortunes. At the same time, it will begin building a new vehicle - the 2020 Lincoln Aviator SUV - which, along with an all-new Ford Explorer and police version of the SUV, should keep the plant in full swing, Ford spokeswoman Kelli Felker said Thursday. Several factors are involved in this transition, a couple of which being that trucks and SUVs are often more fuel efficient and better in terms of safety ratings and ride quality.
Ford said the changes will not require additional investment but will instead be enabled by freeing up $11.5 billion (about £10bn) from existing programmes.
Ford will cut $5 billion from capital spending from 2019 to 2022, reducing it from $34 billion to $29 billion.
Diamond and Silk say Facebook silencing conservatives, in Capitol Hill testimony
While the social media giant had messaged the pair that their videos were "unsafe", it later clarified that it was sent in error. They now have almost 150,000 subscribers on YouTube and several of their videos have been viewed over a million times each.
"Ford has been criticized by Wall Street analysts for offering few details on Mr. Hackett's strategy for the company".
Thoughts about Ford's drastic move?
What's left will be nothing but profit centers, or at least potential profits, as the company focuses on what consumers are really buying these days: trucks, sport-utilities and crossovers. As always, if you have anything to share, feel free to sound them off in the comments section below!
The number of Facebook users - and the company's stock price
Many users said they would delete their accounts , raising fears that the service was facing a major crisis. The stock rose as much as 7% in after hours trading Wednesday following the earnings release .
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