Ford Motor Co. joined the Deutsche Bank Global Auto Industry Conference at the MGM Grand Detroit this month, highlighting its preliminary results for 2018 and its 2019 strategy.
“Over the last 19 months, we have worked to reshape and transform our company – sharpening our competitiveness, taking actions to improve our profitability and returns, and investing in our future. These actions support our drive to satisfy today’s customers – and those of tomorrow,” President and CEO Jim Hackett said.
Ford Global Markets President Jim Farley also noted the company’s major global product wave focusing on SUVs, trucks and commercial vehicles.
“We are now beginning to see the results of our capital shift away from traditional sedans to trucks and SUVs with new utility nameplates globally, including Territory in China; Bronco; and a slightly smaller, yet-to-be-named off-roader in North America,” Farley said. “2018 was a growth year for F-Series, especially Super Duty in North America. Transit and Ranger are now in all global markets in high volume with great potential.”
Additionally, he outlined items Ford would be working on to reinvent its regional businesses:
- In the next 24 months, Ford is refreshing 75 percent of its lineup, fortifying the company’s successful truck franchise and renewing and expanding the range of SUVs
- Expedition and Navigator posting increases in share
- Increasing the mix of SUVs to be more in line with the overall market
- Remaining committed to the region with an optimized footprint, targeted to Ford’s strengths
- Focusing on reducing structural costs and improving efficiency, with an administrative headcount reduced by 20 percent
- Being the No. 1 selling commercial vehicle brand in Europe
- Redesigning to strengthen competitive position, improve profitability and returns
- Targeting a vehicle lineup within three customer-focused business groups: commercial vehicles, passenger vehicles and imports
- Creating a solid foundation for turnaround with right leadership and right products – including the new Territory and Focus
- Improving cost structure and relationships with partners, including dealer network
- Introducing more than 10 new Ford and Lincoln products in China this year and more than 30 by 2021
Ford has also shared its 2018 preliminary EPS result of $0.92, and adjusted EPS of $1.30 and closed the year with cash of $23.1 billion and liquidity of $34.2 billion.