Ford will stop making cars for North America, eyes US$25B in savings by 2022
CEO Jim Hackett said the changes, meant to improve profitability,
include getting rid of all cars for the North American market except
for the Mustang sports car and Focus crossover
Ford Motor Co. will shed most of its North American car lineup as part of broad plan to save money and make the company more competitive in a fast-changing marketplace. The changes include getting rid of all cars in the region during the next four years except for the Mustang sports car and a compact Focus crossover vehicle, CEO Jim Hackett said as the company released first-quarter earnings.
The decision, which Hackett said was due to declining demand and profitability, means Ford will no longer sell the Fusion midsize car, Taurus large car, CMax hybrid compact and Fiesta subcompact in the U.S., Canada and Mexico.
Exiting most of the car business comes as the U.S. market continues a dramatic shift toward trucks and SUVs. Ford could also exit or restructure low-performing areas of its business, executives said.
