According to Ford America’s President Mark Fields, FoMoCo will scale back a little on vehicle updates next year. The move is being made as the Dearborn automaker looks to cut cost and focus on reducing its debt. Fields said that Ford is replacing 33 percent of its product line 2010 but “it won’t be as much next year.”
Fields did not give any specific details in his presentation at a NY investors conference sponsored by Credit Suisse but gave a glimpse into the scope of the company’s 2011 model year changes.
FoMoCo is still expected to offer more upgrades than its competitors. According to Car Wars, an annual report by Bank of America and Merrill Lynch, Ford will replace a third of its lineup in 2011 and will continue to be more aggressive than the industry average vehicle replacement rate of 27 percent.
2011 Ford Explorer:
– By: Omar Rana
Source: Detroit News