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