When the future of the automakers comes at the stake, company bring new products to keep dealers, analysts, and media in buzz. Ford Motor whose brand name is at stake in front of other automakers, make a comeback to compete with them with the announcement of New Green SUV lineup. The turnovers of the company in recent times has put pressure on the management for a better future map of the company.
Jim Hackett, who is the Chief Executive and in the job for 10 months had come under fire for not taking any decisions for the cut costs and to improve the profitability. On Thursday, Jim Hackett along with his executive team had made an announcement for the SUV and truck line for next few years which includes new hybrid powertrains.
Ford said that by 2020, the company will have a very new fresh lineup of vehicles in the automobile industry. The average age is estimated to be of 3.3 years which is almost 6 years from now. There will be 4 new SUV models with a total of 8 utilities in Ford showrooms. Jim Farley, who is the president of global markets said that Trucks and SUVs are the main objectives for the company as they will account for 90 percent growth and profitability by 2020.
Ford’s F-series pickup trucks are proved to be a success as they alone account for a $41 billion business which is more than the business of Nike or Coca-Cola. The pickup trucks business has grown at a steady rate since the introduction of aluminum-body trucks during 2014.
Ford is also adding hybrid cars like Mustang and F-150 to its lineup. It is said that by 2021, Ford will be selling more hybrid cars to the US than Toyota. Ford is working continuously to improve its profitability with its product development process.