The CEO says if the trade war goes on, "there will be more damage."
Reasons unclear, perhaps involving switch to new modular platform.
Ford's top executives took heat from shareholders over their plan to do away with sedans as we know them in Ford's North American lineup, as the company held its annual meeting Thursday. Critics said the plan to shelve the Fiesta, Focus and Taurus, reduce the Focus to one crossover model, and concentrate on high-margin trucks and SUVs was a shortsighted abandonment of entire market segments of affordable vehicles.
Ford continues on its "fitness" regimen.
It wants to provide a shared platform for "transit choreography"
Having cake, eating it too: People want crossovers with the mileage of sedans.
It's the latest move in CEO Jim Hackett's streamlining strategy.
SHANGHAI — Alibaba Group Holding has signed a deal with Ford to explore cooperation in areas such as cloud computing, connectivity and retail, which could involve selling Ford cars on Alibaba's online retail platform Tmall. Alibaba in a statement on Thursday said digital marketing-focused Alimama and operating system firm AliOS would be among subsidiaries working with Ford under the three-year agreement. One avenue under consideration is the sale of Ford cars on Tmall, an Alibaba spokesw
Ford would also stock "auto vending machines."
It's a win-win for two big global players.
"Some big decisions will be made," Ford Chief Financial Officer Bob Shanks said.
Ford said Wednesday that new CEO Jim Hackett is eligible for at least $13.4 million in total annual compensation. His prececessor, Mark Fields, meanwhile, who was ousted by the board over the company's 37 percent stock slide, could walk away with about $57.5 million in compensation, Bloomberg reports. The bulk of Fields' consolation prize is in unvested stock awards worth $29.4 million, as of Wednesday's close, that will vest through 2020. Fields also is eligible for $17.5 million in retirem
The U.S. No. 2 automaker is stuck in a product drought that shows no signs of easing until 2019, .
Over the past 12 months, shares of Ford are down nearly 16 percent. The S&P 500 index has jumped nearly 17 percent over the same time.