Wednesday, August 29, 2007
Ford CEO says company doesn't need a global luxury brand
Ford CEO Alan Mulally has said the company does not need a global luxury brand, but will instead focus on streamlining its core Blue Oval brand with fewer vehicle platforms and more parts sharing worldwide. Ford will reduce its number of vehicle platforms by 40% over the next five years, with 70% of all models to be built off 10 platforms. Ford will also cut the number of six-cylinder engined models it produces from eight to two over the same period, and the number of seat frames from 28 to two. Mulally also confirmed that Ford is moving forward with its planned sale of Jaguar and Land Rover and is still considering a sale of Volvo Cars, but ruled out any possibility of selling its controlling stake in Mazda Motor Corp.
DATED: 29.08.07
FEED: AW
