| The Dearborn-based automaker Ford Motor | | | | Fields has this to say: "We really are starting to |
| Company lost $12.7 billion last year - the most that | | | | deliver products that people will want." |
| they have lost in the company's long and quite so | | | | Aside from the Ford Taurus sedan which has been |
| colorful history. The company has even sold the | | | | redesigned completely and looks very different from |
| ultra-luxury brand Aston Martin to bolster its sagging | | | | its predecessor, Ford will also introduce the Taurus X |
| coffers. And now it is in the process of selling the | | | | for the 2008 model year. The Taurus X is a |
| two British brands in the Premiere Automotive Group | | | | rebadged version of the Ford Freestyle, a crossover |
| (PAG) - Jaguar and Land Rover. | | | | SUV. The Taurus X is one of the vehicles that Ford is |
| For the near future though, FoMoCo is looking to | | | | looking at to attract car buyers with. Their lineup of |
| increase their shrinking market share in the United | | | | light trucks is also redesigned for the 2008 model |
| States auto market. The company hopes to increase | | | | year. SUVs and pickups which can be equipped with |
| its market share by offering a revitalized lineup for | | | | the Ford pickup cowl cover are now offered with |
| the 2008 model year. The company will be offering | | | | more standard features to attract more buyers. |
| the revived and redesigned Ford Taurus and the | | | | Aside from anchoring their hopes on the 2008 lineup, |
| production of which has just started. Aside from the | | | | Ford is also looking to continue their workforce |
| Taurus, Ford's 2008 model year lineup also includes | | | | reduction. According to Fields, Ford has essentially |
| redesigned crossover SUVs. Crossovers are now | | | | achieved the goal of cutting down 14,000 jobs. Fields |
| considered the most sought after vehicle in the | | | | said that about 4,000 employees have already left |
| market. | | | | the company last year, while the 10,000 |
| According to Ford's president of the Americas, Mark | | | | employee-reduction will be implemented this year. |
| Fields, the company is aiming to take about 14 to 15 | | | | "We actually are done with that," said Fields. "We do |
| percent of the local auto market. The past years has | | | | have some folks that are staying with us a little bit |
| seen the market share of the car manufacturer | | | | longer, through the remainder of the year, in some |
| reduced as Japanese rivals increased sales in the | | | | critical positions." |
| United States. Toyota, Honda and Nissan are all | | | | As for their production capacity, Fields has this to |
| expanding their offerings for the United States auto | | | | say: "Overall, we're ahead of where we expected to |
| market and Ford needs to counter it by offering new | | | | be in capacity reduction. Economic conditions continue |
| and competitive cars. | | | | to make it more and more difficult for our suppliers, |
| According to Fields, the company's share of the | | | | and that means we are going to have to work even |
| market today is about 15.3 percent. This means that | | | | harder to reach our targeted material cost |
| one goal in their "Way Forward" has already been | | | | reductions." |
| achieved and now they are looking to stabilize that | | | | Ford lost money last year due to the fact that they |
| share in the largest auto market in the world. At an | | | | are producing vehicles more than what they can sell. |
| event at Ford's Dearborn testing facility where new | | | | To turn the company back to profitability, Ford |
| Ford, Mercury and Lincoln vehicles were showcased, | | | | needed to reduce its production. |