Saturday, 18 August, 2018

Ford Is 'Transitioning' to Just 2 Car Models

Ford first-quarter earnings top estimates to drop slow-selling sedans Ford beat analyst expectations on Wednesday driven in part by cost cuts and lower taxes. But rising commodity prices remain
Cristina Norman | 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 Journal reported, 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.

Recommended

  • OPCW investigators visit 2nd site in Douma, Syria

    OPCW investigators visit 2nd site in Douma, Syria

    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 .
    United Nations  expects over $4bn in pledges for Syria

    United Nations expects over $4bn in pledges for Syria

    But, he admitted that the U.S. had yet to make a pledge for 2018 and that the figure was almost $2bn lower than at this point at last year's Syria conference.
    Drug take-back day is Saturday, April 28

    Drug take-back day is Saturday, April 28

    Participants may dispose of the drugs from their container and keep them or turn them over with the labels. Campus officials request, if possible, people leave medicines in their original packaging.
  • Say hello to the iX3, BMW's 'first' electric vehicle

    Say hello to the iX3, BMW's 'first' electric vehicle

    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.
    Will US Treasury drop Rusal sanctions?

    Will US Treasury drop Rusal sanctions?

    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.
    Klopp key to surprising Salah success - Totti

    Klopp key to surprising Salah success - Totti

    He has helped Liverpool reach the UEFA Champions League semi-finals and secured a likely top-four finish in the English Premier League .
  • Snapchat's new Spectacles are water resistant and cost $149

    Snapchat's new Spectacles are water resistant and cost $149

    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.
    Apple pushes update to address third-party display issues on iPhone

    Apple pushes update to address third-party display issues on iPhone

    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.
    How Ronny L. Jackson found his VA nomination rapidly imperiled

    How Ronny L. Jackson found his VA nomination rapidly imperiled

    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.
  • Comcast makes rival £22bn cash offer for Sky

    Comcast makes rival £22bn cash offer for Sky

    The company now anticipates that the acquisition will complete before the end of 2018. However, there's no certainty that Comcast will be able to pull off the offer.
    Malaysia releases images of suspects in Palestinian killing

    Malaysia releases images of suspects in Palestinian killing

    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.
    WhatsApp increases age limit to 16 in Europe

    WhatsApp increases age limit to 16 in Europe

    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.

Congress has destroyed the meaning of Constitution, says Amit Shah Congress has destroyed the meaning of Constitution, says Amit Shah He also gave some important tips to women workers of BJP to ensure victory in the forthcoming parliamentary elections. Lekhi and Patra said Congress Prime Ministers had tried to destroy institutions of the country to save their chairs.

ICC Board likely to ratify 2019 World Cup schedule 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.

Princess Charlotte's floral smocked dress sells out after Lindo appearance Princess Charlotte's floral smocked dress sells out after Lindo appearance The royal trio were greeted by press and fans alike as they eagerly awaited Kate Middleton and the debut of her third child .

NY balance of power could shift after Dems win special elections NY balance of power could shift after Dems win special elections Rye's Latimer vacated the seat last fall when he won his race for Westchester County Executive against the incumbent Rob Astorino. If Killian wins, Republicans rule. "I continue to hold out hope", said Senator Stewart-Cousins.

Ian Wright replies when asked if Arsenal legends could replace Arsene Wenger Ian Wright replies when asked if Arsenal legends could replace Arsene Wenger I think we're all doing this job because one day we want to coach the biggest teams in Europe", he said. The competition is Wenger's final chance to lay his hands on European silverware.

Meek Mill released from prison on bail following #FreeMeekMill movement Meek Mill released from prison on bail following #FreeMeekMill movement However this time around, Meek was a free man and was able to sit-down with Lester Holt face to face. Earlier on Tuesday, comedian and Philadelphia native Kevin Hart visited the rapper in jail.

Waffle House hero raising thousands for victims' families Waffle House hero raising thousands for victims' families He didn't like the government or the National Rifle Association, and he talked about being a "sovereign citizen". Jeffrey Reinking "has now acknowledged giving them back" to his son, Nashville police spokesman Don Aaron said.

Peter Madsen sentenced to life for murdering journalist Kim Wall Peter Madsen sentenced to life for murdering journalist Kim Wall Wall's parents were in court, and looking directly into their eyes, Madsen told them "I'm really sorry for what has happened". Madsen, 47, is charged with murder, dismemberment and indecent handling of a corpse over the death of Kim Wall.

Trump to send senior officials to China for trade talks Trump to send senior officials to China for trade talks Treasury Secretary Steven Mnuchin will depart for China to negotiate over U.S. trade disputes within days, President Donald Trump said.

Liverpool boss Klopp fears long-term Oxlade-Chamberlain injury Liverpool boss Klopp fears long-term Oxlade-Chamberlain injury After the game, Reds' boss Jürgen Klopp admitted that the injury looked to be serious. The midfielder went down on the 18th minute mark after tackling Aleksandar Kolorov.

Google overhauls G Suite with redesign, AI and efforts to cut clutter Google overhauls G Suite with redesign, AI and efforts to cut clutter The "regular" Gmail users can try the new features under the Settings menu where an option of "Try new Gmail " will be available. These include several AI-based features including Smart Reply , email snoozing, and nudging recepients to respond.

Inside Pictures! Milind Soman Ties The Knot With Ankita Konwar In Alibaug Inside Pictures! Milind Soman Ties The Knot With Ankita Konwar In Alibaug The two, who are both fitness freaks, have constantly kept their fans updated with their intimate pictures and moments together. Model and actress Dipannita Sharma also attended the functions and posted regular updates on her Instagram.

New York Mets Send Matt Harvey to Bullpen 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.

Indian VP shoots down opposition's impeachment motion against chief justice Indian VP shoots down opposition's impeachment motion against chief justice It then notes that all such experts nearly unanimously opined that the present motion was not a fit case for removal of a judge. The challenge, he said, could be in the form of a writ petition in the Supreme Court .