Ford Motor Co.'s top executives on Thursday vigorously defended the automaker's plan to discontinue all of its North American sedans as a way to better meet customer needs by "reinventing the American car" rather than a retreat in response to falling sales.
During the company's annual shareholders meeting, CEO Jim Hackett and Executive Chairman Bill Ford were questioned repeatedly about the decision to ax the Fiesta, Fusion, Taurus and all but a wagon variant of the Focus in the U.S. over the next few years. Critics have called the move to focus on higher-margin SUVs, crossovers and pickups short-sighted, saying the automaker is abandoning segments that remain popular with entry-level buyers.
"This doesn't mean we intend to lose those customers," Hackett said. "We want to give them what they're telling us they really want. We're simply reinventing the American car."
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"We don't want anyone to think we're leaving anything," Hackett said. "We're just moving to a modern version. This is an exciting new generation of vehicles coming from Ford."
Bill Ford blamed media coverage of the move for negative reaction to it. The automaker revealed its plans as part of its first-quarter earnings report.
"I wish the coverage had been a little different," he said. "If you got beyond the headline, you'll see we're adding to our product lineup and by 2020 we'll have the freshest showroom in the industry. The headlines look like Ford's retreating. In fact, nothing could be further from the truth."