Ford dropping all but 2 cars from its North American dealerships
Ford Motor Co. said Wednesday it 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.
Chief Financial Officer Bob Shanks wouldn’t say if employees would be cut but said nothing is off the table.
“We’ll restructure as necessary and we’ll be decisive,” Hackett said.
And it's not just Ford. General Motors decided to scale back production of the Chevy Cruze, Chevy Impala, Buick LaCrosse and the Cadillac ATS and CTS. The Cadillac cars are produced in Lansing. There are also reports GM plans to kill off their Sonic subcompact.
Fiat Chrysler did away with the Dodge Dart and Chrysler 200 more than a year ago.