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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.

Lincoln dons the Black Label

"We're really trying to simplify for the customer on their terms." - Paul Bucek
Lincoln is launching a Black Label service and customization program in December at 32 dealerships across the country in a bid to attract new and more upscale customers.

Lincoln to adopt Mini-like personalization strategy?

There's no single silver bullet that will cure all that ails the Lincoln brand, and Ford knows that just as surely as we do. Coming out with exciting new models like the well-received MKC crossover counts as several steps in the right direction, assuming of course that the production version is as appealing as the concept just shown at the 2013 Detroit Auto Show, but more is needed. According to Jim Farley, executive vice president of Lincoln, one more trick may be "mass customization."
Put another way, Lincoln is considering ways to allow buyers to customize their new vehicles right off the showroom floor, similar to how things are done at Mini, and, to a lesser extent, Scion, where Farley previously served as corporate manager. Imagine, for instance, ordering a new MKC with a large Lincoln insignia embossed into the leather seatbacks, according to Automotive News.
While we're not so sure anybody is all that interested in paying extra for more Lincoln logos, it's a strategy that has proven rather fruitful at Mini. Only time will tell if Ford's erstwhile luxury division will once again be seen as something truly worth reaching for, and if customers are willing to pay a further premium for customization.