Ford CEO To Detail Company's Future Next Week

Ford chief executive Jim Hackett is expected to detail his plans for the carmaker’s during a briefing with analysts and investors on October 3.

Automotive News reports that a key focus of Hackett will be ensuring that the company can make money from products other than pickups, SUVs and crossovers and that it will be able to reverse recent quarterly earnings declines.

One of the key reasons why Ford’s board of directors decided to replace Mark Fields with Jim Hackett’s was Hackett’s proven ability to quickly adapt to change and react to fluctuating consumer demands.

Analysts assert that both the EcoSport crossover and Ranger pickup should have been sold in the United States years ago as customer demand began to shift towards these vehicles. Both the EcoSport and Ranger are on the way but the brand is years behind the competition.

Beyond bringing new in-demand vehicles to the market, Ford could kill of a number of other local models. First and foremost could be the Fiesta subcompact, the Taurus sedan and both the C-Max hybrid and plug-in hybrids.

According to manager of product analysis at AutoPacific, Dave Sullivan, “This is an industry that has historically only thought as far forward as the next quarter and how things affect earnings.

“I think there has to be more of a blend of looking forward to the next quarter and year, but also having an understanding of what the future of the auto industry is going to look like and building the foundation for that now."