Ford Motor Company (NYSE:F) CEO Jim Hackett focus has now shifted on assessing the company’s operations in India as well in other markets. He will also review future product strategies including plans to launch a self-driving commercial vehicle in next four years.
Ford Motor CEO Hackett has informed market about its 100-day review plan of company’s operations. However, he is yet to provide to details of the place. So far, the only thing known is that Hackett is looking at the company’s future of small vehicles, investments in growing markets and luxury vehicle strategy.
Bob Shanks, the CFO of Ford, reported that the review covers numerous issues, including company’s strategy for India. There is a lot of work to do as the team looks at the issues and how to fix them in the coming period. All the different issues, related to Indian market and others are on the table.
Earlier in May, General Motors Company (NYSE:GM) reported that it would close selling cars in India, however will continue to manufacture vehicles in India for export. Shanks reported that as of now no decisions have been finalized. The company registers a big market share in India as compared to General Motors. They are very conscious as India is the third major market in the world.
Ford CFO added that going forward some major decisions will be taken, all of which cannot be revealed at the close of the planned 100-day review of India and other markets. Hackett is resolving challenges that have led to an almost 8% drop in Ford’s stock price in 2017.
The company has plans of putting a self-driving vehicle into commercial ride-sharing fleets in next four years. Hackett is assessing the timing and investment for that project. Along with that, Hackett will also contemplate on the matter of reducing or consolidating production of models that are built in different locations across the world, and are witnessing poor demand.