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Ford defends plan to shareholders: ‘We're simply reinventing the American car’

Ford's top executives took heat from shareholders over their plan to do away with sedans as we know them in Ford's North American lineup, as the company held its annual meeting Thursday. Critics said the plan to shelve the Fiesta, Focus and Taurus, reduce the Focus to one crossover model, and concentrate on high-margin trucks and SUVs was a shortsighted abandonment of entire market segments of affordable vehicles. "This doesn't mean we intend to lose those customers," Ford CEO Jim Hackett said. "We want to give them what they're telling us they really want. We're simply reinventing the American car." Ford has said SUVs/crossovers and pickups will constitute 90 percent of its North American lineup by 2020. And though only the Mustang and new Focus Active will remain, it plans to add new vehicles going forward that offer better fuel economy and utility, including EVs and hybrids. Hackett characterized the shift not as an abandonment of traditional cars but as a transformation of them. "We don't want anyone to think we're leaving anything," Hackett said. "We're just moving to a modern version. This is an exciting new generation of vehicles coming from Ford." It was Hackett's first annual meeting as CEO, and for the second year it was conducted online rather than in person. The change to Ford's lineup is part of Hackett's overall plan to cut $25.2 billion in costs by the year 2022. Executive Chairman Bill Ford Jr. blamed the negative reaction to the lineup plan on media coverage. "I wish the coverage had been a little different," he said. "If you got beyond the headline, you'll see we're adding to our product lineup and by 2020 we'll have the freshest showroom in the industry. The headlines look like Ford's retreating. In fact, nothing could be further from the truth." While Ford was clear about its plans for the Blue Oval, it has been less clear about the Lincoln brand. Hackett on Thursday said only that the Lincoln Continental, re-introduced just two years ago, would continue "through its life cycle" — but it has been such a slow seller that rumor has Ford killing the Continental again after that, and Hackett made no mention of a new generation. Presumably the MKZ sedan will go away when its twin the Ford Fusion does, but although Ford has outlined end dates for other models, the Fusion's departure is open-ended. The stock price has been a frustration for investors for years and has fallen 12 percent since the first of the year.

BMW reclaims US luxury sales crown from Mercedes

The numbers, they are in: BMW has reclaimed the luxury-sales crown from Mercedes by a margin of 9,347 cars. Mercedes donned the king's headgear in 2013 after a strong final quarter of 2013 when the new CLA and S-Class poured out of dealerships. This year, led by the 3 Series/4 Series and X5, BMW sold 339,738 units – a 9.8-percent increase year-on-year. Mercedes, led by the C-Class and M-Class, saw its sales go up by 5.7 percent to 330,391 units. We'll have to wait a bit to see if there's another registrations-vs-sales challenge as in 2012, when BMW was anointed US luxury ruler. Behind them, a dark horse named Lexus nudged closer to the leading Teutons, selling 311,389 cars. The Japanese luxury automaker also had the biggest gain among the top three, its sales rising by 13.7 percent compared to 2013. Audi had the biggest sales of anyone among the top five, though, with a 15.2-percent gain to 182,011, which moved it a spot ahead of Cadillac; the Wreath-and-Crest brand dropped 6.5 percent to 170,750. Acura (167,843), Infiniti (117,300), and Lincoln (94,474) took the final positions. Speaking of Lincoln, sales at the once-mighty luxury marque stand as the mightiest jump of any on this list, up 15.6 percent. That's the power of Matthew McConaughey... and better cars and a new crossover, sure. So now that we're back to Round One of 2015, in case no one else has said it yet: "Ok, fight!"

Lincoln Continental death looms with changes at Flat Rock Plant

Ford's Flat Rock Assembly plant just south of Detroit produces the Ford Mustang and the Lincoln Continental. Automotive News reports that the automaker plans to produce two battery-electric crossovers at the facility, the EVs scheduled for sale in the 2023 model year. The EVs were previously meant to be built in Ford's Cuautitlan Stamping and Assembly plant in Mexico, which builds the Fiesta. According to the AN piece, moving the EVs to Michigan means the end of Lincoln Continental production in the U.S. Sunset is expected in "late 2021" for a sedan that is just three years old, and that never got the momentum to assert itself and reassert the Continental nameplate. The Continental has been on death watch since at least March 2018, when Ford Authority reported that the luxury sedan wouldn't get more than one generation. The changing of several guards in the top ranks scotched a plan to move the Continental onto the CD6 platform for rear- and all-wheel-drive vehicles. In September 2018, Jalopnik put more meat on those crossbones, saying Flat Rock workers alleged the big Lincoln could bid adieu as soon as this year, and automaker insiders had seen production merely scheduled — not approved — for 2020, with nothing beyond that. Then, as now, Ford appears to be leaving open the possibility for Continental production to continue in China, and just maybe be exported here. The two twinned midsized EVs, using the codenames CDX746 and CDX747, would come in Ford and Lincoln flavors. Said to be roughly the size of the Ford Edge/Lincoln Nautilus platform siblings, the automaker has requested suppliers gear up for annual production of up to 65,000 units between the two models. When they arrive, they'll form part of the 16 EVs Ford plans to have on the market worldwide by 2022. The others we know of so far are the crossover that will channel the Mustang, an electric F-150 pickup, and an EV project with Rivian.