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☆ UAW strike brings blue-collar vs. billionaire battle to Detroit
▼ + stars: | 2023-09-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +9 min

In this article STLAGMF Follow your favorite stocks CREATE FREE ACCOUNTwatch nowDETROIT — The United Auto Workers strike is bringing a blue-collar versus billionaire battle to the Motor City, just as UAW President Shawn Fain wanted. Fain, a quirky yet emboldened leader, has meticulously brought the UAW back into the national spotlight after decades of near irrelevance. He wants to represent not just union members but also America's embattled middle class, which UAW helped create. United Auto Workers union President Shawn Fain joins UAW members who are on a strike, on the picket line at the Ford Michigan Assembly Plant in Wayne, Michigan, September 15, 2023. Such profits are exactly what Fain has said UAW members deserve to share in.

Persons: Shawn Fain, Fain, Rebecca Cook, Joe Biden, Biden, We've, Ford, Jim Farley, CNBC's Phil LeBeau, he's, Mary Barra, Stellantis, bargainers, Sen, Bernie Sanders, Sanders, Bob King, I've, it's, Anthony Dobbins, Dobbins, That's, Michael Wayland, Farley, Barra Organizations: DETROIT, United Auto Workers, Motor, UAW, Ford Michigan Assembly Plant, Reuters, Ford Bronco, UAW GM, Chrysler, National, General Motors, Ford Motor, Plant, Michigan Assembly Plant's, National Labor Relations Board, GM, Ford, CNBC, Democratic, UAW Local Locations: Motor City, irrelevance, Wayne , Michigan, Ford, Michigan, Vermont

☆ What industry experts, leaders say about the autoworkers' strike
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +7 min

SAM FIORANI, PRODUCTION FORECASTER AT AUTO FORECAST SOLUTIONS:"This is more of a symbolic strike than an actual damaging one ... DEMOCRATIC U.S. REPRESENTATIVE ELISSA SLOTKIN OF MICHIGAN:"I'm looking forward to joining our auto workers on the picket line this weekend. DONALD TRUMP, FORMER U.S. PRESIDENT:"The all Electric (car) is a disaster for both the United Auto Workers and the American Consumer. The targeted strike is intended to give UAW flexibility strike fund duration." SUZANNE CLARK, CEO OF US CHAMBER OF COMMERCE"The UAW strike and indeed the 'summer of strikes' is the natural result of the Biden administration's 'whole of government' approach to promoting unionization at all costs."

Persons: MARY BARRA, who's, we've, Shawn, Fain, DAN IVES, KOJI ENDO, LEE JAE, ARTHUR WHEATON, It's, ELISSA SLOTKIN, JAY TIMMONS, MONICA BOSIO, Stellantis, MARTINO, AMBROGGI, DONALD TRUMP, CHRIS MCNALLY, COLIN LANGAN, AT WELLS, PATRICK ANDERSON, JOHN MURPHY, Ford, ROBERT STREDA, DBRS, SUZANNE CLARK, Biden, Joseph White, David Shepardson, Trevor Hunnicutt, Peter Henderson, Heekyong Yang, Daniel Leussink, Giulio Piovaccari, Mehr Bedi, Medha Singh, Anne Marie Roantree, Jamie Freed, Savio D'Souza, Arun Koyyur Organizations: United Auto Workers, UAW, General Motors, Ford, Chrysler, Ford Bronco, Chevrolet, CNBC, GM, SBI, EUGENE, South, CORNELL SCHOOL, Company, DEMOCRATIC U.S, ELISSA SLOTKIN OF, NATIONAL ASSOCIATION, American Consumer, ISI, AT, Detroit, Thomson Locations: Chevrolet Colorado, Detroit, United States, ELISSA SLOTKIN OF MICHIGAN, China, Washington, San Francisco, Seoul, Tokyo, Milan, Bengaluru

A person carries a flag with the patch from the United Auto Workers (UAW) labor union during a May Day rally for media workers held by The NewsGuild of New York on International Workers' Day in Manhattan, New York City, New York, U.S., May 1, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsDETROIT, Sept 15 (Reuters) - The United Auto Workers union launched simultaneous strikes at three Detroit Three factories early on Friday, kicking off the most ambitious U.S. industrial labor action in decades. Fain's decision to go with targeted walkouts could limit the cost to the union of strike pay. UAW President Fain has taken an unorthodox approach to the negotiations, bargaining with all three Detroit automakers simultaneously. But the Detroit automakers build some of the U.S. market's best-selling vehicles, such as the Ford F-150 and Chevrolet Silverado pickup trucks and Jeep SUVs.

Persons: Andrew Kelly, Shawn Fain, Fain, Stellantis, Sam Fiorani, Ford, Gerald Johnson, Jim Farley, Joe Biden, Biden, Biden's, Dan Ives, market's, Joseph White, David Shepardson, Peter Henderson, Mehr Bedi, Jamie Freed Organizations: United Auto Workers, UAW, International Workers, REUTERS, Rights, Detroit, Ford Bronco, Chevrolet, General Motors, Ford, Chrysler, Cox Automotive, Forecast Solutions, Bronco, Tesla, GM, Toyota, Honda, Mercedes, Chevrolet Silverado, Deutsche Bank, Thomson Locations: New York, Manhattan , New York City , New York, U.S, Chevrolet Colorado, Wayne , Michigan, Wentzville , Missouri, Toledo , Ohio, Toledo, Detroit Three's U.S, United States, Detroit, Washington, San Francisco, Bengaluru

But not all of the 146,000 UAW members at company plants are walking picket lines, at least not yet. Top-scale assembly plant workers make about $32 per hour, plus large annual profit-sharing checks. The Ford plant that's on strike employs about 3,300 workers, and it makes Bronco SUVs and Ranger midsize pickup trucks. Under the UAW strategy, workers who go on strike would live on $500 per week in strike pay from the union, while others would stay on the job at full pay. It’s unlikely the companies would lock the remaining workers out of their factories because they want to keep building vehicles.

Persons: Joe Biden’s, ”, Liz Shuler, Shawn Fain, Britney Johnson, It’s, Candace Bowles, “, Bowles, I’m, Fain, ” Fain, “ We’re, Ford, didn’t, Marick, ” Masters, “ They’re, Mary Barra, you’ve, Farley, Jeff Schuster, Stellantis, Schuster, ____ Williams Organizations: DETROIT, United Auto Workers, General Motors, Ford, “ Workers, AFL, UAW, GM, Fiat Chrysler, Toledo Jeep, Bronco, Chevrolet Colorado, GMC, Chevrolet Express, Wayne State University, U.S, CNBC, Global Locations: Wentzville , Missouri, Wayne , Michigan, Detroit, Toledo , Ohio, Toledo

☆ Hundreds gather at Ford plant in Michigan as auto workers begin historic strike
▼ + stars: | 2023-09-15 | by ( Eric Cox | ) www.reuters.com time to read: +2 min

[1/3] United Auto Workers union President Shawn Fain joins UAW members who are on a strike, on the picket line at the Ford Michigan Assembly Plant in Wayne, Michigan, U.S., September 15, 2023. REUTERS/Rebecca Cook Acquire Licensing RightsWAYNE, Michigan, Sept 15 (Reuters) - Hundreds of people, including auto workers on the night shift and their supporters, gathered at a Ford (F.N) assembly plant in Wayne, Michigan as members of the United Auto Workers (UAW) union walked off the job to begin a historic strike. "This is what union looks like," said Mike Lester, a supporter who works at a supplier to the major automakers. But UAW President Shawn Fain has said Ford could have funded better pay and benefits for workers if it curtailed stock buybacks and dividends to shareholders. As the strike began, Fain and Debbie Dingell, a Democratic U.S. representative from Michigan, were among the high-profile visitors to Ford's Wayne plant, where about 3,300 UAW members assemble popular Bronco SUVs and Ranger pickup trucks.

Persons: Shawn Fain, Rebecca Cook, Mike Lester, Ford, Jim Farley, Fain, Debbie Dingell, Ford's Wayne, Dingell, Eric Cox, Jamie Freed, Clarence Fernandez Organizations: United Auto Workers, Ford Michigan Assembly Plant, REUTERS, UAW, General Motors, Chrysler, Ford, Democratic, Thomson Locations: Wayne , Michigan, U.S, WAYNE , Michigan, Democratic U.S, Michigan, Ford's

☆ Thousands of UAW members go on strike at three key auto plants after deal deadline passes
▼ + stars: | 2023-09-14 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

In this article GMFSTLA Follow your favorite stocks CREATE FREE ACCOUNTMembers of the United Auto Workers union hold a rally and practice picket near a Stellantis plant in Detroit, Aug. 23, 2023. For Ford, UAW President Shawn Fain said only workers in paint and final assembly will be on strike. About 12,700 workers – 5,800 at Stellantis, 3,600 at GM and 3,300 at Ford – will be on strike at the plants in total, the union said. The UAW represents about 146,000 workers across Ford, GM and Stellantis. Fain has referred to the union's plans as a "stand-up strike," a nod to historic "sit-down" strikes by the UAW in the 1930s.

Persons: Michael Wayland, Shawn Fain, Fain, Joe Biden, Biden, Ford Organizations: United Auto Workers, CNBC DETROIT –, General Motors, Ford Motor, Ford, UAW, GM, Facebook, YouTube, Detroit automakers, Tesla, Toyota Locations: Detroit, Wentzville , Missouri, Wayne , Michigan, Toledo , Ohio, Stellantis, United States

☆ An auto strike looks likely. Should I buy a car now?
▼ + stars: | 2023-09-10 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

CNN —If you’re thinking about buying a new car, you might be warily watching news about a possible United Auto Workers strike. It depends on the vehicle you’re shopping for and on your own level of flexibility in that choice. New vehicle inventories are leaner than they’ve been before past strikes, said Pat Ryan, CEO of the car shopping site CoPilot, which closely tracks dealership inventories. So vehicle production at Mexican and Canadian factories could well shut down at some point if a strike drags on. In some ways, you might find this all somewhat similar to car shopping during the era of post-covid vehicle shortages, said Ryan.

Persons: Pat Ryan, —, “ They’ve, ” Ryan, Stellantis, Ryan, that’s, ”, Ivan Drury, Michelle Krebs, Thomas Goldsby, Stellantis’s, GM’s, “, you’re Organizations: CNN, United Auto Workers, Motors, Ford, Toyota, Honda, Hyundai, Chevrolet, GM, Dodge, GMC, Edmunds.com, AutoTrader, Ford Bronco, UAW, University of Tennessee, Factories, Chevrolet Trailblazer, Trax, Auto Locations: American, Mexico, Canada, United States, North America, South Korea, Italy, China

☆ Ford to replace rear cameras in new recall, take $270 million charge
▼ + stars: | 2023-09-01 | by ( ) www.cnbc.com time to read: +1 min

Ford Motor said on Friday it will recall 169,000 U.S. vehicles to replace rearview cameras and update software and is taking a $270 million charge to address the callback. It was the latest in a series of recalls for rear camera-related recalls by the No. The Detroit automaker in May issued a recall of 422,000 vehicles in the United States because the rearview camera display might fail following an earlier camera recall in January of 462,000 vehicles worldwide. Ford said in the latest recall it has 3,486 warranty reports alleging rear camera failures and reports of two minor crashes but no injuries. Since 2021, NHTSA has been investigating if Ford delayed a 2020 recall of 620,000 vehicles for a rear camera issue and if it recalled enough vehicles.

Persons: Ford Organizations: Ford, Co, Auto, Ford Motor, Detroit, Traffic Safety Administration, Bronco, Securities and Exchange Commission, NHTSA Locations: Detroit , Michigan, U.S, United States

EL CAJON, California, Aug 11 (Reuters) - California firefighters are using artificial intelligence to help spot wildfires, feeding video from more than 1,000 cameras strategically placed across the state into a machine that alerts first responders when to mobilize. But AI alerted a fire captain who called in about 60 firefighters including seven engines, two bulldozers, two water tankers and two hand crews. Part of Leininger's job is to help the machine learn. With hundreds of specialists repeating the exercise up and down the state, the AI has already become more accurate in just a few weeks, Driscoll said. "We need to use technology to help move the needle, even if it's a little bit."

Persons: Neal Driscoll, ALERTCalifornia, Shane Montgomery, Mike Blake, Suzann Leininger, Driscoll, Daniel Trotta, Donna Bryson, Diane Craft Organizations: Cleveland National Forest, Cal Fire, University of California, UCSD, Cal, Bronco, Cal Fire Air Attack, REUTERS, Thomson Locations: CAJON , California, California, Cleveland, San Diego, University of California San Diego, Chico , California, Hawaii, Canada, Ramona, San Diego County , California, U.S, El Cajon

☆ Ford's U.S. sales rose nearly 6% in July, but its EVs are still lagging
▼ + stars: | 2023-08-02 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +2 min

Sales of Ford's F-Series pickups, an important profit driver, rose 8.2% in the month to 68,536. The Lightning's factory reopened earlier this week. But sales of Ford's other EV, the E-Transit commercial van, rose over 50% to 791 units in July. Sales of the Bronco SUV climbed over 20% in July, to 12,755, and sales of the smaller Ranger and Maverick pickups rose 8.6% and 13.5%, respectively, from a year ago. U.S. sales of all Ford vehicles, including EVs and Lincoln-brand models, totaled 1,181,207 through July, up 9.4% from the same period in 2022.

Persons: Ford, they're Organizations: Ford Motor Co, Ford Motor, Bronco, Detroit, Lightning, Ford Locations: Dearborn , Michigan, U.S, Lincoln

☆ Toyota unveils the retro-styled return of the Land Cruiser
▼ + stars: | 2023-08-01 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

New York CNN —Just three years after being discontinued in North America, the Toyota Land Cruiser is coming back — with an all-new, retro-styled design. The Toyota Land Cruiser has its own similarly passionate fan base. ToyotaFor those who really want to tap into Land Cruiser history, customers in the United States will be offered the Land Cruiser 1958 Edition, commemorating the year the model was first offered in the United States. The Toyota Land Cruiser 1958 edition has round headlights. In many parts of the world, especially in places where roads are poor and service centers scarce, Toyota Land Cruisers have become ubiquitous.

Persons: New York CNN —, Ford, It’s, Kurt Williams, Williams, ‘, ’ ”, “, ’, Brian Rabold Organizations: New, New York CNN, Toyota, Cruiser, Lexus, . Engineers, Land Cruiser Heritage Museum, Toyota Land Cruisers, Cruisers Locations: New York, North America, United States, Salt Lake City, America, Australia

☆ Ford recalls 125,000 SUVs, trucks that could catch fire
▼ + stars: | 2023-06-06 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

CNN —Ford is recalling more than 125,000 Escape SUVs, Maverick pickups and Lincoln Corsair luxury SUVs because their engines could leak fluids and catch fire. There have been a total of 28 fires apparently linked to this issue, according to Ford, including five since last year’s recall. Owners with questions can contact the NHTSA Vehicle Safety Hotline at 888-327-4236 or Ford customer service at 866-436-7332. This recall is unrelated to another recently announced recall of Lincoln MKC SUVs, essentially an earlier version of the Corsair, that could catch fire while parked. Ford also recently had to recall the Bronco off-road SUV because NHTSA found the seatbelts too difficult to reach.

Persons: CNN — Ford, Ford, Lincoln Organizations: CNN, Lincoln Corsair, National, Traffic Safety Administration, Lincoln, Ford, NHTSA Locations: Louisville , Kentucky, Hermosillo , Mexico

☆ The Ford Bronco is being recalled due to hard-to-reach seatbelts
▼ + stars: | 2023-05-31 | by ( Chris Isidore | ) edition.cnn.com time to read: +1 min

“The customer may experience some dissatisfaction or be discouraged if they are unable to easily access the seatbelt… in its stowed position. The recall involves only the five-door version of the Bronco. But in this case the problem only came up during a standard examination of the Bronco by NHTSA. “Ford is not aware of any customer warranty or field reports of seatbelt… accessibility concerns,” said the agency’s notice. Ford is aware of one case in which the wheel came off, although fortunately no one was injured in that case.

Persons: Ford, ”, Ford didn’t, “ Ford Organizations: New, New York CNN, Ford Bronco, Traffic Safety Administration, Bronco, NHTSA, Rangers Locations: New York

[1/2] A Ford Ranger Raptor is seen at a Ford event in Michigan, U.S., May 5, 2023. REUTERS/Joe WhiteDETROIT, May 10 (Reuters) - Ford Motor Co (F.N) on Wednesday unveiled the latest addition to its muscle truck franchise - a Ranger Raptor midsize pickup with a 405-horsepower engine and a suspension designed for racing across the desert, made possible in part by Ford's electric vehicles. But a Ranger Raptor will start at $56,960, Ford said. Ford is also ramping up production of its Mustang Mach-E, Ford F-150 Lightning and Transit electric vehicles - generating credits that allow it to sell more high-performance, combustion vehicles such as the Ranger Raptor, the Bronco Raptor and the F-150 Raptor. "We're doing it through a portfolio of products" that includes electric vehicles and a hybrid Maverick pickup, Baumbick said.

☆ Ford is finally bringing the beastly Ranger Raptor truck to the US, and it costs $57,000 — see it here
▼ + stars: | 2023-05-10 | by ( Tim Levin | ) www.businessinsider.com time to read: +3 min

The 2024 Ford Ranger Lariat. The 2024 Ford Ranger Lariat. FordThe Ranger RaptorThe 2024 Ford Ranger Raptor. The 2024 Ford Ranger Raptor. The 2024 Ford Ranger Raptor.

☆ Ford reveals redesigned Ranger pickup with new Raptor performance model
▼ + stars: | 2023-05-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

In this article F Follow your favorite stocks CREATE FREE ACCOUNT2024 Ford Ranger Raptor FordDETROIT — Ford Motor on Wednesday revealed its redesigned Ranger midsize pickup truck for the U.S., including a new Raptor performance model. 2024 Ford Ranger Raptor FordFord declined to release the current average transaction price of the Ranger. The Ranger Raptor, which is powered by a 3.0-liter EcoBoost V6 engine, adds to Ford's Raptor lineup that currently includes the F-150 full-size pickup and Bronco SUV. 2024 Ford Ranger Raptor Ford"The mission has always been to climb the mountain to No. 2024 Ford Ranger XLT Sport FordThe Ranger fits in between Ford's compact Maverick pickup and the automaker's full-size F-150 and larger F-Series trucks.

☆ Ford reveals its new global pickup truck
▼ + stars: | 2023-05-10 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

CNN —In America, “Ford truck” usually means the F-series, the best-selling truck here for decades. But in many parts of the world, it probably means the Ford Ranger. In terms of size and capabilities, it fits between the big F-150 and the small, car-like Ford Maverick. The Ranger Raptor, which will have big 33-inch diameter tires, is designed for high-speed off-road driving. The previous generation Ford Ranger was available in other markets for many years before Ford finally decided to sell it in North America.

☆ On Long Island, an Artist’s Studio That Floats Among the Trees
▼ + stars: | 2023-05-05 | by ( Kurt Soller | Angela Hau | ) www.nytimes.com time to read: +1 min

Imagine a place for making things: a simple room, with little but the tools you need and the ideal never-too-bright light. They also wanted somewhere to park their car, a nearly 18-foot-long 1966 Chevy Impala Super Sport convertible. Researching bespoke garages online, the couple discovered the work of another couple, Max Worrell and Jejon Yeung, two architects in their 40s who, after meeting in their Yale graduate program, co-founded the firm Worrell Yeung in 2015. Several years ago in upstate New York, they had built a Japanese-and-Scandinavian-influenced minimalist annex with space for their clients to relax — and to store their vintage Ford Bronco. It was exactly what Burst, 62, and McDonough, 67, pictured for themselves.

The company for the first time broke out financial results for its Ford Blue, Ford Pro and Ford Model e units. Ford Blue earnings before interest and taxes doubled to $2.56 billion, a margin of 10.4%, and Ford Pro EBIT nearly tripled to $1.4 billion, a margin of 10.3%. For 2023, the automaker expects full-year EBIT for Ford Blue to climb slightly to $7 billion, while Ford Pro EBIT could nearly double, to almost $6 billion. Its combustion-vehicle business, Ford Blue, averaged pretax profit of $3,715 a vehicle, while the Ford Pro commercial business earned $4,053 per vehicle, based on the company's financial data. Most of the pricing improvement Ford achieved during the quarter came from the company's Ford Pro commercial vehicles.

☆ The Spies of ‘Citadel’ Have Big Plans: Global Domination
▼ + stars: | 2023-04-27 | by ( Chris Vognar | ) www.nytimes.com time to read: +1 min

“But those were Hollywood-centric narratives that traveled. “It really is like riding a bucking bronco,” Joe Russo said. (The Indian and Italian productions have different showrunners.) According to The Hollywood Reporter, reshoots pushed the cost of “Citadel” to more than $200 million, which would make it one of the most expensive series ever made. (Amazon did not respond to multiple queries about the show’s budget.)

☆ Riding with the woman in charge of America’s last muscle car
▼ + stars: | 2023-04-22 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

I could take a ride in what will soon be America’s last gasoline-powered muscle car with the woman who’s in charge of getting it into production and onto the street. Courtesy FordTransou and others at Ford will tell you there is an electric Mustang, the Mustang Mach-E SUV. As we took off, there was a burst of speed and throaty V8 engine noise as we blasted down Manhattan’s 10th Avenue. First, it’s the only actual car Ford currently sells in the United States. About 40% of V8 Mustang buyers get a manual transmission, she said, going for that truly classic driving experience.

☆ Peering Into Volcanoes at Tanzania’s Crater Highlands
▼ + stars: | 2023-04-17 | by ( Patrick Scott | Photographs | ) www.nytimes.com time to read: +2 min

Cloud shadows darkened sections of the leafless rim and the tan crater floor. A silvery green lake spread out on the left, and a patch of emerald woodlands near a stream stretched out on the right. In the rainy seasons, the expansive floor is lush and teeming with animals, including massive herds of migrating wildebeests. And because nearly all of the inhabitants are herbivores, we saw no chasing and fleeing. Instead, the wildebeests milled about or rested in acacia shade, and the zebras did a lot of standing around, motionless, like they were trying to remember something they’d just forgotten.

☆ How little engines are taking over American cars in a big way
▼ + stars: | 2023-04-15 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

If Americans have experience with three-cylinder engines, it would probably have been in Europe where the engines are fairly common in tiny “city cars” used for basic, around-town transportation. Now, for the 2023 model year, there are ten different models available in the United States with three-cylinder engines, according to Edmunds.com. All of these are at least offered with three-cylinder engines, if not available only with that engine. Vehicles that would have once have been powered by eight-cylinder engines now have turbocharged six-cylinder engines, instead. GM currently offers two different three-cylinder engines and, Hommes said, plans to continue selling them even as GM moves toward selling nothing but electric passenger vehicles by 2035.

☆ Some cars, including the Toyota Corolla and Ford Bronco, are worth up to $8,000 more used than if they were new
▼ + stars: | 2023-04-11 | by ( Alexa St. John | Tim Levin | ) www.businessinsider.com time to read: +4 min

But there are 14 used cars that cost more than their new versions, per a new iSeeCars analysis. A lightly used Toyota Sienna or Kia Carnival could cost thousands more than they do new. ToyotaToyota Corolla HybridUsed price: $27,809Difference used over new: $2,038Toyota SiennaUsed price: $50,978Difference used over new: $1,806The 2022 Toyota RAV4 Prime XSE. Tim Levin/InsiderToyota RAV4 PrimeUsed price: $51,298Difference used over new: $1,726Toyota Corolla CrossUsed price: $30,636Difference used over new: $853The Kia Carnival. HondaHonda Accord HybridUsed price: $34,704Difference used over new: $152Chevrolet CorvetteUsed price: $84,827Difference used over new: $324Kia RioUsed price: $20,135Difference used over new: $27Honda AccordUsed price: $30,404Difference used over new: $16

☆ Ford plans "dramatic reductions" in product complexity - exec
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Phil NobleCompanies Ford Motor Co FollowDETROIT, April 5 (Reuters) - Ford Motor Co (F.N) plans "dramatic reductions" in the complexity of its product lineup starting in the 2024 model year, Jim Baumbick, the automaker's product development chief, said Wednesday at a conference hosted by Bank of America. At the same time, Ford plans to develop more variations of certain model lines, such as the Bronco SUV, because they offer 30% or greater profit margins compared to the base model, Baumbick said. Ford Chief Executive Jim Farley has said the automaker's product lineup and vehicle architectures are too complex and too costly. Ford is driving to cut billions from operating costs after 2022 profits fell short of investor expectations. Ford is also "rushing to add capacity" to build more Maverick compact pickup trucks, he said.

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