Mark Fields, Ford Motor’s Executive Vice-president of the America, promised that his compnmay would return to former glory by 2008. While we are happy for the man and his company, yet there are many who think otherwise - so, which pops up the question - is it possible?
There are some very unpromising figures that could prove otherwise for Ford. Closing at $6.43, Ford’s shares was at a 14-year low on June 21. Standard & Poor puts Ford on a negative credit watch and a junk-debt rating of BB. Beside, Ford’s SUV are losing popularity so fast that the losses from it will outdo any revival plans made by the company. Moreover, Wall Street Journal and investors have begun to lose faith in Ford - which again could prove disastrous for Ford.
Ford badly needs a miracle now - and that is to increase sales by millions. To achieve that, Ford needs to churn out brands that customers want. However, Ford has taken a very wrong path in this too. Ford chief designer Peter Horbury laments:
We started a design by first trying to make a product fit a factory, rather than starting with what the customer wants.
I must say this is a total lack of proper leadership. Unless Ford rectifies their products, I don’t see much hope for Ford Edge crossover, Lincoln MKZ crossover SUV, the Ford Shelby GT500 etc even if it hires American Idols as models to save their cars.
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