Ford CEO Jim Farley said ahead of the company’s capital markets day event Monday that the days of Ford being all things to all people are over.
The National Highway Traffic Safety Administration officially start car recalls after receiving complaints from consumers.Ford CEO Jim Farley says his company will stop competing in over-served market segments and instead will place big bets on connected vehicles and digital services.
Ford, Farley said, will emphasize software and services as well as iconic vehicles such as pickup trucks, large SUVs, commercial vehicles and advanced second-generation electric vehicles. He said the company is eliminating waste to close a cost gap with the best in the industry with a "lean disciplined operating system" that reaches into all Ford factories.
To get there, Ford says it will cut costs by reducing the number of parts in its vehicles, as well as cutting warranty and recall expenses by boosting quality. Rather than testing the new Super Duty pickup to a particular standard, the company tested it until parts and systems failed, he said. Now Ford is finding the eventual weak point and eliminating it, prolonging vehicle life, Galhotra said.
A study by Plante Moran released Monday showed that Ford’s working relations with parts suppliers has declined dramatically since 2020.
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