Ford Motor Co. (F) - Get Report CEO Jim Hackett has unleashed plans for the automaker that will see it transform itself and be better positioned for a future marked by shifting consumer habits around vehicle purchases and a move toward electric vehicles.
One of the primary goals Hackett laid out last Tuesday was to focus more towards SUVs and trucks, two categories where the automaker already finds success, as well as electric vehicles and driverless technology.
The Dearborn, MI.-based automaker will also aim to reduce costs of about $10 billion and engineering spending by another $4 billion. One of the ways it will accomplish those goals is by slashing development time for new vehicles by 20%, and shifting investment away from passenger cars.
The move could be a welcomed sign for Ford, as the automaker ranks near the bottom of the 2017 J.D. Power U.S. Vehicle Dependability Study, ranking 26th out of a total of 31 automakers.
It's stock is also only up a meager 2.4% year-to-date, and it fired its former CEO Mark Fields in May because he failed to rally employees around a common goal or to make crucial decisions about the company's strategy.
In light of these developments, TheStreet has compiled a list of cars the automaker should consider targeting for the trash heap.
How do you like this $100,000 Ford truck?