Ford plans ‘dramatic reductions’ in product complexity

Ford plans “dramatic reductions” in the complexity of its product line-up starting in the 2024 model year, Jim Baumbick, the automaker's product development chief, said on Wednesday at a conference hosted by Bank of America.

At the same time, Ford plans to develop more variations of certain model lines, such as the Bronco SUV, because they offer 30% or greater profit margins compared with the base model, Baumbick said.

Ford CEO Jim Farley has said the carmaker's product line-up and vehicle architectures are too complex and too costly. Ford is driving to cut billions from operating costs after 2022 profits fell short of investor expectations.

“On Bronco, we are never going to let our foot off the pedal,” Baumbick said.

Ford is also “rushing to add capacity” to build more Maverick compact pickup trucks, he said.