Amid declining consumer demand and product profitability, the company said it will not invest in next generations of traditional Ford sedans.
The company's stock was up 2.6 percent at $11.40 in after-hours trading.
Read between the lines of last week's news about the Ford Fusion, and it becomes tough to see a post-2020 future for the vehicle in the U.S.It won't be made in Mexico anymore, Ford has told. "We're going to feed the healthy part of our business", and dispose of marginal operations, Hackett added.
Ford Motor Company reported net income of $1.7 billion up 9 percent over Q1 '17 for the first quarter of '18 on gross revenues of $42 billion, up 7 percent.
'Farcenal' -- Wenger performs u-turn over 'timing' remarks
The trio missed the weekend win over West Ham with minor problems but all trained on Wednesday. Wenger said he is not planning to retire but that "honestly I don't know what I will do".
Spotify Announces On-Demand Playlists For Free Users
As for exactly what's new in "personalized discovery", by far the most important change is the addition of on-demand playlists. Rolling out over the coming weeks to iOS and Android , the app now has cleaner visuals and easier methods of navigation.
CAF: Mohamed Salah Has Made Africa Proud
Premier League transfer news and rumoursMo Salah: Liverpool to Real Madrid? Salah has 41 goals in his first season for Liverpool . With three games remaining, he'll definitely break it. "From my point of view. there was no player better than him".
Shanks said the automaker is focused on building great new products to maximize revenue while reducing incremental cost.
The lion's share of the automaker's quarterly profit was driven by high-margin pickup trucks and SUVs in North America.
The move is bad news for sedans, but good news for trucks and crossovers. We are determined to turn this business around right throughout the whole company. Crossovers and SUVs have quickly come to represent more than half of the total industry's US sales, while sedans and small cars have been sinking.
Ford said it has found another $11.5 billion in cost cuts and efficiencies, bringing the total to $25.5 billion expected by 2022. Almost half of the cuts would be in sales and marketing - through incentive optimization, reduced advertising and other actions - with the rest coming from engineering and product development, material costs, manufacturing and information technology, in that order. The company previously predicted $14 billion in cuts by 2022.
Shanks wouldn't say if employees would be cut but said nothing is off the table.
The company's loss in its Asia-Pacific region was down to a slump in sales in China. The entire team is focused on improving the operational fitness of our business, as well as meeting and exceeding our accelerated 2020 target of 8 percent margin and ROIC in the high teens.