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The U.S. headquartered car manufacturer has unveiled its roadmap to sustainable profitability which concerns efficiency improvements in operations and a streamlined organisation to “provide foundation for improved business performance”.
Ford is launching a new business model and fresh vehicle line-up as part of the “most comprehensive redesign in the history of its business in Europe”. The carmaker said it is also on track to significantly improve its financial results in Europe this year, paving the way to sustainable profitability and its longer-term goal of delivering a 6% EBIT margin. “Implementing our new strategy quickly enables us to invest and grow our leading commercial vehicle business and provide customers with more electrified vehicles, SUVs, exciting performance derivatives and iconic imported models”, said Stuart Rowley, President, Ford Europe.
The carmaker intends to grow its leadership as the top-selling CV brand in Europe, including leading the pickup segment, and to double its CV profitability in Europe in the next five years. This growth is to be supported by its strategic alliance with Volkswagen, its Ford Otosan joint venture in Turkey and a restructured Ford Sollers joint venture in Russia. The Passenger Vehicles group is to lead a future portfolio of European-built cars and SUVs. Ford said it will introduce at least three new nameplates in the next five years as it continues to grow its utility vehicle portfolio, including the all-new Mustang-inspired fully electric performance utility. The new nameplates are in addition to all-new Kuga, Puma and Explorer Plug-In Hybrids expected by early 2020.
Every new Ford passenger vehicle nameplate is to include an electrified option, “delivering one of the most comprehensive line-ups of electrified options for European customers”. The Company’s manufacturing footprint in Europe will be reduced to a proposed 18 facilities by the end of 2020, from 24 at the beginning of 2019. Approximately 12,000 jobs are to be impacted at Ford’s wholly owned facilities and consolidated joint ventures in Europe by the end of 2020, primarily through voluntary separation programmes.