facebook
twitter
rss
account
search
search
 

Ford forges ahead with new product plan

Nov. 13, 2008 at 12:20 PM   |   Comments

| License Photo
DEARBORN, Mich., Nov. 13 (UPI) -- U.S. automaker Ford Motor Co. said it is forging ahead with new product development in a sink or swim strategy to reverse its declining market share.

"We're only going to be in business if we create products that people really do want and value," Chief Executive Officer Alan Mulally told The Detroit News. "This is the essence of creating a viable Ford," he said.

Industry analyst Eric Selle of J.P. Morgan echoed the executive's sentiments. "The status quo is no longer acceptable. Abandoning the product plan would have been a bad move," he said.

Mulally and global product development chief Derrick Kuzak have argued for six weeks in lengthy board meetings to stay the course on product development, the News reported.

Standard weekly Thursday meetings became all-day sessions, as company executives groped for a strategy to preserve Ford's liquidity.

Meetings then lasted into the night. Work sessions lasted through the weekends until consolidation and pressing forward became the strategy of choice, the News reported.

"The whole intent from the beginning was to protect the product plan ... and look for every other element of cash that isn't directly tied to the products," Kuzak said.

Topics: Alan Mulally
© 2008 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
North Dakota gets more gas processing capacity
2
Russia to take rubles, yuan for oil
3
Carrier hull section sent to Scotland for ship assembly process
4
Navy contracts for F-35-related construction work
5
Saab, U.S. Special Operations Command sign new deal for recoilless rifle
Trending News
Video
x
Feedback