Ford beat analyst expectations on Wednesday driven in part by cost cuts and lower taxes. But rising commodity prices remain
27 April, 2018, 00:44
Ford is losing money while tying up precious capacity at plants across North America to build cars that fewer and fewer customers want.
With that news, Ford will phase out the slumping Fusion, Taurus, CMax and Fiesta models in the United States, Canada and Mexico.
General Motors and Ford Motor Co. plan to discontinue four slow-selling vehicle models, including the venerable Ford Taurus sedan, the Wall Street Journalreported, citing people familiar with the.
Hackett says the multi-year transition will leave the iconic Mustang and a redesigned Focus crossover as Ford's remaining cars. The new USA -market version of the Focus will be made in China.
Hackett said the plan also calls for Ford either fixing or dumping unprofitable global operations. The C-Max, Ford's only dedicated hybrid in the USA market, was dropped a year ago. That factory, Barbossa says, will stay busy making the Explorer and a new SUV.
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.
Despite the higher profit, Ford's adjusted pretax profit margin fell to 5.2 percent from 6.4 percent in the same quarter in 2017. Ford said this is the future, and it means a total refresh of the existing lineup of SUVs and crossovers. The company's balance sheet shows an effective tax rate of 9 percent for the quarter.
The company has previously hinted at scaling back in its consumer auto department in favor of two other markets: trucks and SUVs.
In March, executives at Ford unveiled new ambitious plans for shifting the struggling carmaker's product portfolio from cars to SUVs, increase the number of hybrid as well as fully-electric vehicles and lower the costs of development and manufacturing with the goal of boosting profits and the share price of the automaker. Up to five hybrid-electric SUVs as well as a hybrid Mustang are also projected to be on sale by the end of the decade, as new technologies increasingly break the link between a vehicle's size and performance and its efficiency. These include the 2019 Ranger pick-up. It also plans to bring a smaller, rugged SUV to market.
On Wednesday, Ford dropped a bombshell during its Q1 earnings call: it's going to stop selling nearly all its cars in the US. The company will continue to sell trucks and SUVs, which will now make up 86 percent of its automobile sales by volume.
A Russian military official announced Wednesday that the OPCW found no evidence of chemical weapons at the Brzeh Research Center. Meanwhile, Syrian regime carried out air strikes in Homs, Idlib and Hama provinces on Wednesday, according to White Helmets .
Automotive News reports production will take place in Shenyang, China, through a joint-venture with Brilliance China Automotive. The components for the fifth-generation powertrain are coming from production facilities in the U.S., China and Germany.
For example, Rusal's Aughinish alumina plant in Ireland buys bauxite that Rio mines in Guinea and sells to smelters across Europe. The Russians were seeking "clarification" on USA sanctions, Mnuchin said to reporters Saturday, without elaborating.
The second-generation Spectacles Snap unveiled Thursday appear to try to address some of the problems in the first model. Snapchat is also collaborating with Lensabl to offer prescription and polarized lenses for customers in the US.
Of course, even authorized experts (as Apple calls them) have been affected by this issue, which resulted in this week's release. Alongside the new iOS update, Apple has brought a security update to the macOS 10.13.4 that debuted on Mac devices last month.
It seeks any communication between the Pentagon and the White House regarding "allegations or incidents" involving him. A watchdog report reviewed Tuesday by The Associated Press appeared to corroborate some of those allegations.
In January 2010, Hamas military commander Mahmoud al-Mabhouh was killed by a team of assassins at a hotel room in Dubai. Batash was a lecturer at Universiti Kuala Lumpur , specialising in power engineering, according to the university.
According to GDPR , the Europeans can ask the social media platforms to delete their personal data available with them. Facebook has a separate data policy for its services, including rival instant messaging service Messenger.
Stocks give up an early gain; 10-year yield hits 3 percent
Benchmark U.S. crude oil rose 30 cents to $68.35 a barrel in electronic trading on the New York Mercantile Exchange. The yield on the 10-year Treasury went as high as 3 percent in early trading before slipping back to 2.99 percent.
ICC Board likely to ratify 2019 World Cup schedule
Of the ten participating teams, four will march into the knockouts during the month and a half-long tournament. It is believed that the CEC chose to go back to the old format to ensure recovery time for the teams.
New York Mets Send Matt Harvey to Bullpen
Harvey has allowed a combined 14 runs in his last three starts. "That is how I'm going to prepare, and that's how I get ready". In previous years, Harvey was able to urge his heater up too 97 miles per hour and was able to use that as his out pitch.