Fordsaid Wednesday - when it announced first-quarter results - it's aiming for an additional $11.5 billion in cost cuts and efficiencies, bringing the total to $25.5 billion expected by 2022.
Ford says it doesn't expect any layoffs at its Chicago assembly plant after the company announced it would be phasing out most cars in favor of SUVs and trucks.
Ford 'will not invest in next generations of traditional Ford sedans for North America, ' including the midsize Fusion and full-size Taurus, the company said. By 2020, 90 percent of Ford's North American offerings will be trucks, SUVs and commericial vehicles, the company said. Ford says it is exploring "white space" vehicles that combine the best attributes of cars along with utility attitude and character such as good interior space, versatility and high riding stance.
By 2019, Ford will also introduce a brand new Focus Active in North American countries.
The automaker's pre-tax profit fell 14% to $2.2 billion for the quarter. 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. "Because of our demographic, having all-wheel drive seems to be more of what the customer wants", said Mike Sardella, finance manager at Simmons Rockwell Ford.
The company recorded a 7% increase in revenue and a 9% increase in net income to $1.7bn in the first quarter. Could Ford of Europe be on the bubble? As of now, Ford loses cash on the Fiesta, Focus, and Fusion, as per The New York Times.
Exiting most of the vehicle business comes as the US market continues a dramatic shift toward trucks and SUVs.
Ford will drop the Fiesta hatchback and Fusion saloon (the American version of the Mondeo) from its U.S. line-up by 2020.
The 2019 Ford Mustang Bullitt and the 1968 Mustang from the movie "Bullitt" are shown at the North American International Auto Show on January 15, 2018. They may be experimenting with some new concepts as far as larger higher profile large vehicles.
Many of Meek Mill's supporters have argued that his case is a testament to the issues present in the criminal justice system. Eagles owner Jeffrey Lurie and retired boxing great Bernard Hopkins sat near Hart and Mill, and Democratic Gov.
But he later calmly explained that he dismembered her in order to be able to lift the body out through the vessel's narrow hatch. First he said she had died in an accident when she hit her head on the submarine's hatch and he had chose to bury her at sea.
I have applied my mind to all five changes made out in impeachment motion and examined all annexed documents. We would want the CJI not to take any decision with respect to it, be it the listing or anything else.
Domantas Sabonis had a team-high 22 points for the Pacers, who will try to avoid elimination when they host Game 6 on Friday. James also went 15-for-15 from the line and finished with 44 points, 10 rebounds and eight assists.
Wenger confirmed last week that he was leaving at the end of the season after 22 years in charge of the Premier League giants. The competition is Wenger's final chance to lay his hands on European silverware.
The most recent matchup between the two teams was April 7, when New Orleans beat Golden State 126-120 at Oracle Arena. Nurkic was excellent after the All-Star break, averaging 15.0 points on 56.3 percent shooting, with 10.6 rebounds.
The iX3 is expected to arrive in 2020 and is a direct rival for the Jaguar I-Pace and upcoming Mercedes-Benz EQC and Audi e-tron. But the concept is wearing an all-new kidney grille akin to the one seen on the i Vision Dynamics Concept from past year .
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Bob Dorough of 'Schoolhouse Rock' dead at 94
Born in Cherry Hill, Ark., on December 12, 1923, Dorough grew up in Texas, where he first learned how to play music. Bethel, Pennsylvania, a spokesperson for Dorough told TheWrap.
Facebook warns of privacy hurdles ahead as revenue surges
Facebook said in its first quarter earnings report on Wednesday that cash and equivalents rose to $44 billion in the period. Facebook stock gained more than 4 per cent in after-hours trading and was up 7 per cent following its conference call .
Martella's taking back unused prescription drugs
It's time to clean out the medicine cabinet and dispose of any unwanted drugs so they can't fall into the wrong hands. Participants may dispose of the drugs from their container and keep them or turn them over with the labels.
New York Mets Move Matt Harvey To The 'Pen
Kurt Suzuki had three hits and drove in three runs, including a two-run homer off Harvey in the first inning. Ricco stated the team would narrow on the two to help Harvey reconstruct his nurturing and optimism.
Trump Administration Eases Sanctions on Russian Metal Giant
Thus, the U.S. authorities make it clear that sanctions can be mitigated if Deripaska sells his assets and abandons the company. Rusal's customers scrambled to find other suppliers while stockpiles of the metal from its abandoned orders piled up.