COMPANIES

No Data Found

NEWS

No Data Found
Advertisement
Ford plans 'dramatic reductions' in product complexity

Ford plans 'dramatic reductions' in product complexity

At the same time, Ford plans to develop more variations of certain model lines, such as the Bronco SUV, because they offer 30% or greater profit margins compared to the base model

Reuters
  • Updated Apr 6, 2023 8:13 AM IST
Ford plans 'dramatic reductions' in product complexityFord is also rushing to add capacity to build more Maverick compact pickup trucks

Ford Motor Co plans "dramatic reductions" in the complexity of its product lineup starting in the 2024 model year, Jim Baumbick, the automaker's product development chief, said Wednesday at a conference hosted by Bank of America.

At the same time, Ford plans to develop more variations of certain model lines, such as the Bronco SUV, because they offer 30% or greater profit margins compared to the base model, Baumbick said.

Advertisement

Ford Chief Executive Jim Farley has said the automaker's product lineup and vehicle architectures are too complex and too costly. Ford is driving to cut billions from operating costs after 2022 profits fell short of investor expectations.

"On Bronco, we are never going to let our foot off the pedal," Baumbick said.

Ford is also "rushing to add capacity" to build more Maverick compact pickup trucks, he said.

Published on: Apr 6, 2023 8:13 AM IST
Post a comment0