So long, Taurus and Fusion. Ford’s first-quarter 2018 financial release includes some stunning news: Sedansare no longer in the brand’s plans for the U.S. market. But the Mustang and Focus Active crossover will live on.
Ford reported 7 percent increased revenue, year over year for the quarter, with a $1.7 billion net income, a 9 percent increase. The company attributed its growth to what it calls “fitness initiatives.”
Ford president and CEO Jim Hackett explained how fitness works for the company’s future plans.
“We are committed to taking the appropriate actions to drive profitable growth and maximize the returns of our business over thelong term,” Hackett said. “Where we can raise the returns of underperforming parts of our business bymaking them more fit, we will. If appropriate returns are not on the horizon, we will shift that capital to where we can play and win.”
Hackett then laid out Ford’s strategic framework for the future with four major initiatives that relate to fitness: