Ford is ditching these auto models

Ford to report earnings after the bell — here's what Wall Street expects

Ford to report earnings after the bell — here's what Wall Street expects

Revenue at Ford increased 7%, to US$41.96bn from US$39.15bn.

In 2017, the company's pretax profit fell to $8.4 billion from $10.3 billion.

The cull is part of a plan to cut US$5 billion in planned spending from 2019 to 2022. Savings will come from engineering, product development, marketing, materials and manufacturing.

Ford's board ousted its chief executive officer a year ago and replaced him with Jim Hackett, a cost-cutter who's prepared to make the sort of audacious gambles that Wall Street thinks have been missing. "It's a little bit of everything, and I don't think they're done yet".

The cuts will take place over the next few years, Ford said.

Shanks said North American operations had been hurt by rising costs for key commodities such as steel and aluminum.

Ford plans to no longer sell the Fiesta, Taurus, Fusion and the regular Focus in the US and Canada. Exactly when these models will stop being sold in the market hasn't been announced.

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The move comes as no surprise among falling vehicle sales and rising crossover sales.

Michelle Krebs, executive analyst at AutoTrader.com, said Ford's move is no shock.

A line worker works on a auto at Ford Motor plant in Oakville, Ont., on Friday, January 4, 2013. While future fuel-economy regulation policies are very unclear, Ford's big bet on trucks and crossovers comes with a similarly big bet on electrification and widespread cost-cutting measures to make those cars affordable and popular.

Dave Sullivan, manager of product analysis for AutoPacific, Inc., called the move bold but also not surprising.

However, Dias said there are longer-term questions about what Ford will do with the Mexican plants that make the Ford Fiesta subcompact and the Fusion mid-sized sedan and the Chicago plant that makes the Taurus full-sized sedan. "Obviously, this has done well for brands such as Subaru".

Going forward, the company will focus on trucks and SUVs.

Ford had already announced that the new Fiesta ST would not be crossing the pond due to a lack of interest in the segment, but the main justification is, understandably, profit. Shanks said the higher commodity prices were largely to blame. And in every region of the world, Ford reported either a decline in profits or a loss. Ford made $119 million from its European business, and lost money in South America, Middle East and Africa and Asia Pacific.

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