Ford Motor, the pioneer of the American car industry, took a bold step this year: It will phase out most of its sedans and hatchbacks by 2020. Instead it will focus on more profitable vehicles like trucks, SUVs, and crossovers. It’s a splashy move for CEO Jim Hackett–who has been on the job for just one year–but drastic, profit-maximizing decisions are how he made his reputation as CEO of office furniture-maker Steelcase. Like other major carmakers, Ford is waiting for a series of bets on alternative fuels, autonomous driving, and ridesharing to pay off. Until then, it has America’s best-selling vehicle, the F-150 truck, to rely on for revenue.
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BMW is the latest to seek savings as it invests more in technology.
"The UAW goes to the bargaining table prepared to strike if our members need to strike," said UAW President Gary Jones.
Cool cars, but a slumping stock price.
This is your Data Sheet newsletter for Tuesday, March 5, 2019.
Sonia Syngal has been president and CEO of Old Navy since 2016.