None of the other car manufacturers that are taking part in the Detroit auto exhibit have as much at stake on this year’s auto show as Ford Motor Company.
Ford plans to release the fourth-quarter earnings amid an $11 billion turnaround ever since CEO Jim Hackett took office. The company saw its share fall 39 percent the previous year while investors watched their profits skid to $10 a share, a new low since 2012. The auto company also announced that it will discontinue several Ford brands that are no longer profitable and that it will be laying off thousands of employees after a massive restructuring.
In an attempt to boost the company, Ford plans to use the Detroit auto show to launch the redesigns of the muscle car Mustang Shelby GT 500 and the Explorer, two of the car company’s most iconic models. The people attending in the North American International Auto Show will get a first glimpse of the redesigned Explorer. Ford also plans to reveal a new design for the classic Mustang Shelby GT500.
iSeeCars communications manager Julie Blackley stated that Ford is banking on its iconic vehicles by putting more stock on the Explorer and Mustang. The Mustang is the most bankable sports car while the Explorer remains the best SUV in history regarding profit.
Ford plans to show off two of its best car models in Detroit in an attempt to launch a new sales strategy. They play to discontinue the manufacturing of traditional cars, other than the Mustang and focus on the production of trucks and SUVs.
Edmunds industry analysis manager Jeremy Acevedo claims that Ford is renewing its identity as an SUV and truck company. The trucks, muscle cars, and SUVs help Ford stay afloat in sales. The F-150 pickup truck has already gained momentum. The F-150, along with the Mustang and Explorer, will secure the financial future of the company.
Ford’s vision is to further electrification and autonomy while remaining a mobility company. However, it is a pricey action. The sales of SUVs, pickups, and sports car help build the mobile future of Ford.