Ford chief reviewing future products, plants

FORD chief executive Jim Hackett is reviewing the carmaker’s operations in India and other markets, as well as Ford’s future product programmes including plans to build a self-driving commercial vehicle in 2021, according to company officials and other sources familiar with the review.

Hackett, who took over as chief executive in May, has told investors he is working on a 100-day review of Ford’s operations.

He has so far provided few details of the process, except to indicate that it is looking at the carmaker’s luxury vehicle strategy, the future of its small vehicles and investments in emerging markets.

Ford chief financial officer Bob Shanks said the review covered a range of issues, including Ford’s strategy for India.

“We have a lot of work to do as we address issues of how to fix India,” Shanks said.

“Everything is on the table.” General Motors in May said it would stop selling cars in India but continue to produce vehicles there for export.

Shanks said no decisions had been made and noted that Ford had a larger business in India than GM did.

“We are very cognisant that it will be the third-largest market in the world.

“Some big decisions will be made,” Shanks said, but he cautioned Ford might not disclose all those decisions at the end of the 100-day review.

Hackett is addressing challenges that have contributed to a nearly 8% decline in Ford’s share price this year.

Ford has set a target of putting a self-driving shuttle into commercial ride-sharing fleets by 2021.

Hackett is reviewing the investment and timing for that project, sources said.

Hackett is also assessing whether to consolidate production of models such as the Fiesta subcompact and two midsized sedans built in multiple locations around the world, which are experiencing slowing demand.