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automakers to avoid bankruptcy, has pledged to accelerate its new
product lines as it tries to consolidate a four- year turnaround
effort. "Within five years, Ford expects to have reduced the age of
its global product portfolio by 20 percent," the company said this
week. In July, Ford reported a 2.3 percent increase in auto sales --
the first month it has posted a year-over-year gain since November
2007. The company acknowledged that the positive movement was mostly
due to the government's "cash for clunkers" program, which subsidised
the cost of new cars for some Americans, but analysts are upbeat
about Ford's overall health. "We think Ford could be profitable (on a
sustained basis) by the end of 2009 ," said Deutsche Bank analyst Rod
Lache. In an attempt to capitalise on that momentum, Ford is
preparing to wheel out several new and revived lines, including the
2010 Ford Taurus. "This isn't about staying the course. It's about
prospering after the downturn," said Lewis Booth, Ford's chief
financial officer. "My job is to make sure we have the proper balance
of resources to protect our future," he said. Ford officially
launched its new advertising campaign for the 2010 Ford Taurus
bolstered by a positive safety rating from Insurance Institute for
Highway Safety.
