Ford Motor Co. said it plans to halt production of virtually all sedans and focus on production of more profitable trucks, vans and SUVs.
The move is part of plan to cut $25.5 billion in costs by 2022 and boost the company's margins. That's up from the $14 billion in cuts Ford announced last fall. The automobile manufacturer is trying to achieve margins of 8 percent around the globe and 10 percent in North America.
The plan means Ford will be producing only two sedans in the future, the Mustang…
Ford Motor Co. said it plans to halt production of virtually all sedans and focus on production of more profitable trucks, vans and SUVs.
The move is part of plan to cut $25.5 billion in costs by 2022 and boost the company's margins. That's up from the $14 billion in cuts Ford announced last fall. The automobile manufacturer is trying to achieve margins of 8 percent around the globe and 10 percent in North America.
The plan means Ford will be producing only two sedans in the future, the Mustang…