Martinez learned the Fusion will stick around for at least a couple more years.
Ford did not give a timetable for the transition, saying only that it would take place "over the next few years".
"We have looked at every single part of the business", Shanks said. "We aren't just exploring partnerships; we've now done them". That's similar to the road map Fiat Chrysler Automobiles NV has followed on the way to pulling ahead of Ford in North American profitability. Fiat Chrysler Automobiles moved away from sedan over a year ago, while General Motors has remained committed but has dialed back production.
Ford reported a better-than-expected first-quarter profit, with a seven per cent increase in revenue and a lower effective tax rate offsetting a jump in costs, especially higher commodity prices.
Ford stock rose almost 3 percent in after-hours trading Wednesday to $11.40. The company plans to have refreshed 51 percent of its vehicles by the end of 2019 in a process that began in 2017, and it boasted of 11 launches in 2018. It will be killing off all the sedans, as the announcement would have infuriated many enthusiasts. Could Ford of Europe be on the bubble? According to the company, SUVs will have a big impact on the market by 2020 so the manufacturer wants to jump on that bandwagon in the near future.
"Everything will be on the table" to fix Ford, Shanks told reporters at the company's headquarters in Dearborn, Michigan. It has already made a lot of investment in its mobility services since the start of this year. The 2019 Ford EcoSport was rated by the EPA at 27 mpg city, 29 highway, 28 combined in its most efficient powertrain configuration: front-wheel drive and a 1.0-liter turbo-3. The automaker has been under pressure from investors to improve its product lineup and lift its profit margins. CEO Jim Hackett said the manufacturer is getting rid of all the cars in North America over the next four years except the Mustang sports auto and a compact Focus crossover vehicle.
Ford of North America has set a target - by 2020, over 90 per cent of its product lineup in North America would comprise trucks, SUVs and commercial vehicles.
Hackett, 63, sought to assuage those concerns by promising "urgent" action. The hand-wringing maybe that has been around in our business is gone.
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