"At $991 million, Ford's profit was more than three times that of Tesla's. The electric carmaker's earnings, however, told a very different story than Ford."
- So I am not the only one that saw this as a big problem for Ford.
"There's no question that sedan sales have tumbled as millions of American buyers have shifted to sport-utility vehicles and crossovers. But key competitors, including GM, as well as import powerhouses Toyota, Nissan, Honda and Hyundai, are, if anything, redoubling their focus. And Stephanie Brinley, a principal analyst with IHS Markit, is skeptical of Ford's decision. "The sedan market isn't great, but it's still large and Ford simply didn't do what's necessary to compete" by letting once-strong models like the Focus and bigger Fusion go years without necessary updates
, she said."
"Following the May 2017 ouster of Mark Fields, Hackett launched what was billed as an intense, 100-day deep-dive aimed at addressing Ford's problems. Yet, as 2018 rapidly comes to a close, the former CEO of furniture-maker Steelcase has offered relatively few, and often inscrutable, indications of what he has in mind, leaving not only outsiders, but insiders at all levels, trying to understand precisely what directions he wants them to move in.
"A lot of us are asking the same question," a senior Ford executive, who asked not to be identified, told CNBC. "I just have to work on rallying my troops and hope we're all moving in the same direction"
So it's not just the consumers, investors and automotive/investor press that are confused about what Hackett's plans are, Ford's own senior management is clueless as well.
It really sounds like Hackett is blowing smoke up everywhere, and the Ford family is letting it happen.
If the Ford family lets this continue, it's not going to end well....