CEO at Ford Motor Co. Jim Hackett is looking over the automakers India operations as well as other markets while at the same time reviewing future products including plans to have a commercial vehicle by 2021 that is self-driving, says reports from officials at the automaker and others familiar with the situation.
Hackett, who in May became CEO, has told Ford investors he is in the midst of a 100-day review of the operations of Ford but has thus far not provided many details, except to give an indication that he is looking at the strategy for Ford’s luxury vehicle, the future of Ford’s small vehicles and emerging market investments.
Ford CFO Bob Shanks said that the ongoing review entails a range of different issues that include the strategy for the automaker in India.
Shanks added that a great deal of work is needed as the issues of how we fix India are addressed and everything remains on the table.
In May, General Motors announced it would stop sales of cars in India, but would continue to produce different vehicles in the country to export.
Shanks said there has not been any decisions made and cited that Ford’s business was larger in India compared to that of GM.
Shanks added that the company would be making some big decisions, but cautioned that Ford might not disclose them all when the review has been completed.
Hackett is looking into the challenges that contributed to a decline of close to 8% in the share price of Ford during 2017.
The review of its luxury brand Lincoln includes whether Ford’s current plans will meet the ambitious targets of Mark Fields, the former CEO, for revenue and growth, said people in the know.
Ford placed a target of putting a shuttle that was self-driving into its commercial fleets for ride-sharing by 2021. The CEO is looking at that investment and the time for it, said sources.
Hackett is also assessing if there should be a reduction and consolidation in the production of different models like the subcompact Fiesta and two of its midsize sedans built in different locations across the globe, but have experienced a decline in demand.
One of the proposals on the table would move production of its next-generation Mondeo another midsize sedan to Mexico from Europe. That would allow it to share assembly lines with the Fusion its sister vehicle and avoid costs involved in retooling two factories.