Ford doubles its electric vehicle investment to catch up with the competition

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Mr. Hackett, hired to replace longtime Ford executive Mark Fields, has been charged with cutting costs, sharpening the auto maker's approach to future technology and revitalizing the corporate culture.

The automaker also unveiled its Mustang Bullet with 19-inch wheels, a faux gas cap, manual transmission with a cue-ball shift bob, and more power than the Mustang GT.

Despite the sales drops, the USA small auto category is still "huge", Krebs said, representing 2.1 million previous year and the fourth largest vehicle segment. Ford expects to make distributions of $3.1 billion in 2018, subject to board approval, bringing the total to $18 billion since the company restored a regular dividend in 2012.

Together, the Ford F-Series, the Chevy Silverado lineup and the Ram pickup are the first-, second- and third-best selling passenger vehicles in the USA, respectively. Ford expects to have lost $300 million on self-driving vehicle ventures a year ago. Ford says it will spend RM44 billion to create hybrid and electric versions of its cars.

Charlie Chesbrough, the chief economist for Cox Automotive, said it's hard to imagine there will be much change in production, because automakers need a long lead time to act and they know the next president could reverse Trump's actions. And yet automakers believe someday they'll be forced to.

The company "is going to be so different than what you're seeing at the show today", Hackett said. "We're thinking about performance vehicles". That's an attitude American customers expect from a truck, he said. Hitting on these points is the idea of reducing the number of orderable combinations for products like Escape and EcoSport from thousands to one or two dozen, which will achieve the aims of cutting manufacturing costs and upping the quality of each vehicle. Unfortunately, when Jalopnik asked Nair about this, the latter said that the new Mach 1 will be built on a unique platform because it is a battery-electric vehicle.

"These are long-term capital investments", Reuss said.

Jonathan Smoke, the chief economist for Cox Automotive, says customers looking for an affordable vehicle a year ago were more likely to shop for used SUVs over new small cars. But for now, GM and other companies have to be in both places. This new Mustang Bullitt is the best recreation yet, nailing the small details and the color combination.