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 over a 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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This is your Data Sheet newsletter for Monday, May 20, 2019.