Ford will cull passenger auto range in US

How Ford Earnings Soothed Investors

The company now expects to reach an 8 percent profit margin by 2020, two years earlier than it had been targeting. In an interview with Quartz just three months ago, Jim Hackett, Ford's chief executive, said the company is "not planning on a future where it doesn't sell more cars". Where we can raise the returns of underperforming parts of our business by making them more fit, we will. The company posted a 6.4 percent margin during the same quarter previous year.

Ford's shares traded up about 2.2% in after-hours trading Wednesday at $11.35 after closing at $11.11, in a 52-week range of $10.14 to $13.48. The company now builds vehicles on nine platforms that aren't as flexible.

Ford said in a release that it's also exploring a new "white space" vehicle that would combine "the best attributes of cars and utilities, such as higher ride height, space, and versatility". We will have to make choices around how we disposition those businesses going forward. Ford and other automakers have been left to make very hard decisions regarding their future auto lineups.

Ford is pretty serious about trimming its U.S. lineup in the coming years, and that's bad news for anything that isn't a truck or SUV. Lincoln now sells the mid-size MKZ and full-size Continental which share platforms with Ford counterparts. Europe was the only other region to turn a profit for Ford. That echoes the strategy General Motors has employed in selling its European business and abandoning several other countries, including Russian Federation.

"Everything is on the table", Shanks said in a statement to The Detroit News.

The Taurus, Fusion, Fiesta and C-Max will be discontinued, leaving only the Mustang and a new crossover-style compact called the Focus Active in showrooms alongside its growing lineup of SUVs. "And we will do that".

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Ford will cut $5 billion from capital spending from 2019 to 2022, reducing it from $34 billion to $29 billion.

Hackett also announced that Ford Motor will implement $11.5-billion in cost reductions by 2020, on top of $14-billion in cost reductions announced earlier. "There's more work that's underway". The plan was met with a tepid reaction from analysts and investors, who have been eager to hear more specifics. We have looked at every single part of the business.

For comparison, Ford's light truck sales rose 7.2 percent, while GM's light truck sales jumped 26.1 percent. About $100 million of its income was due to a lower tax rate.

Ford says the Taurus and Police Interceptor sedan will end production in March 2019, with the imported Fiesta leaving the market in May of next year.

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.

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