Ford has a lot riding on the Detroit auto show this year

Ford has a lot riding on the Detroit auto show this year

5 years ago
Anonymous $L9wC17otzH

https://www.cnbc.com/2019/01/11/ford-has-a-lot-riding-on-the-detroit-auto-show-this-year.html

Few automakers exhibiting at the Detroit auto show, which kicks off Sunday in Detroit, have more riding on this year's show than Ford.

The company, which is scheduled to release its fourth-quarter earnings Jan. 23, is in the midst of an $11 billion turnaround under CEO Jim Hackett. Investors haven't been pleased so far. Its shares skidded 39 percent last year, falling below $10 a share for the first time since 2012, as its profits plunged 27 percent to $3.8 billion during the first nine months last year from the same time the previous year. And it announced Thursday a massive restructuring in Europe that will cut thousands of jobs there and discontinue several vehicle lines that have been losing money.