Ford says it will stop competing in over-served markets, won't be all things to all people
Ford CEO Jim Farley says the company will stop competing in over-served market segments and instead will place big bets on connected vehicles and digital services
By AP News
Published - May 22, 2023, 06:48 AM ET
Last Updated - Jun 21, 2023, 05:35 PM EDT
DEARBORN, Mich. (AP) — Ford Motor Co. CEO Jim Farley says the company will stop competing in over-served market segments and instead will place big bets on connected vehicles and digital services.
The days of Ford being all things to all people are over, Farley said in a statement ahead of the company's capital markets day event Monday.
He says Ford will be competing differently, going for tailored ownership experiences rather than “jockeying for slivers of market share” with complex vehicles in over-served market segments.
The company is expected to detail how it will accomplish this at the daylong event near its headquarters in Dearborn, Michigan.
