Ford said it will explore "white space" vehicle designs that are essentially crossovers or faux-utility vehicles that disguise their traditional auto shapes with higher ground clearance, body cladding, and all-wheel drive.
It will go forward with only two cars in its lineup: the Mustang and a new hatchback called the Focus Active that will take the place of the current Focus compact. There's also the potential for new cars combining the "best attributes of cars and utilities, such as higher ride height, space and versatility".
Shanks wouldn't say if employees would be cut but said nothing is off the table.
This news comes as part of Ford's "fitness" plan, outlined by CEO Jim Hackett previous year, in which he said the Blue Oval would cut its operating costs by $14 billion by 2022.
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"We will refresh our entire lineup of traditional crossovers and SUVs that everyone knows, like Explorer and Escape", said Jim Farley, Ford's president of global markets. In fact, it looks as though the Mustang and an upcoming Focus Active crossover are the only cars that will survive the cuts. He said the Lincoln brand as a whole is not in danger but noted that it lost money in China because it is in ramp-up mode there after being introduced in 2014.
President Donald Trump's announcement to impose a tariff of 25% on steel and 10% on aluminum comes at a tough time for USA automakers, which have faced flattening sales in recent months.
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. Ford's marketing and sales division is likely to see a large portion of cost reduction.
Ford made the announcement on the day it beat its Wall Street earnings estimates. "I don't think they're done yet".
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Kipchoge's wife Grace Sugut who attended the session said the celebrated marathoner had assured her that he would win. We fully needed it and not just us - for the community and the rest of the London Fire Brigade who attended".
It comes as little surprise then that Ford announced that it will not pursue next-generation builds for sedans like the Fusion and Taurus, which were at one time or another major facets of its portfolio.
He said the company will cut $5 billion from capital spending from 2019 to 2022, reducing it from $34 billion to $29 billion.
Ford's revenue worldwide increased 7% to $42 billion for the quarter. Its Asia Pacific business swung to a $119 million loss, from a $148 million profit a year ago. But the company's profit margin slipped to 5.2 percent from 6.4 percent a year earlier.
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The Bucks were understandably steamed about the missed call and the lack of a replay review that might've rectified it. Jaylen Brown (14 points) and Marcus Morris (10 points) were also in double figures for the Celtics.