Ford set to see over $1bn improvement in operating earnings
The US-based automotive manufacturing giant, Ford, is expected to experience more than a $1bn improvement in operating earnings following its shift from less profitable cars to trucks at its Michigan production plant, according to Reuters.
Ford’s Michigan Assembly Plant in Wayne, Michigan, has transitioned from C-Max hybrids and Focus compact cars to Ranger mid-sized pickup trucks and Bronco SUVs.
SEE ALSO:
-
Ford expected to end independent India operations with new Mahindra deal
-
Ford set to introduce 30 new vehicles in China over next three years
At a Bank of America Merrill Lynch conference in New York, Ford’s Jim Baumbick, vice president of enterprise product line management, commented: “The absolute change in profitability is over $1 billion EBIT and we expect over the long, normal cycle, that to continue to improve. That’s just an example of other choices that we’re making in the portfolio that are going to unlock additional value.”
The company has begun to restructure its operations worldwide in order to accelerate profitability and increase product development.
The Bronco is set to launch next year while the Ranger was unveiled in January.
- Digitalisation as a Strategy to Attract and Retain WorkersDigital Factory
- UPDATED VENUE & DATE – Manufacturing LIVE Chicago 2025Sustainability & ESG
- ABB Cuts Industrial E-Waste in Quest for CircularitySustainability & ESG
- Why Are Manufacturers Doubling Down On Digital Twins?Digital Factory