Ford will speed shift to SUVs to boost profit, shares

Ford will speed shift to SUVs to boost profit, sharesFord Motor Co executives on Thursday disclosed ambitious plans to shift the struggling automaker’s product portfolio from passenger cars to SUVs, add more hybrid and pure electric vehicles, and reduce development and manufacturing costs – moves aimed at boosting Ford’s profit and share price. At a media briefing near the company’s headquarters, Chief Executive Jim Hackett said Ford’s previously stated margin target of 8 percent “now has upside.” But company executives targeted 2020 as when the overhaul of its product lineup and engineering systems will fully take hold. Ford shares were up 0.8 percent at $ 11.11 on Thursday afternoon, reversing an earlier decline.



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