Ford on Sunday unveiled its first all-electric SUV called the Mustang Mach-E, a nod to one of the most iconic versions of the pony car. The unveiling took place next to the Tesla's design center outside of Los Angeles.
Ford shares fell nearly 7% on Thursday, a sign investor patience is wearing thin as Hackett's turnaround plan slowly takes shape.
The "performance SUV," according to Ford, will be available in U.S. and European dealerships next fall. Ordering will begin upon the vehicle's debut on Nov. 17.
The quarterly earnings are the first since Moody's Investors Service downgraded Ford's credit rating to junk status in September.
Electric vehicles are upending the auto industry, saving some jobs as factories are retooled to build zero-emission vehicles but costing many times more in the long run. It's a top concern in the current UAW talks with Detroit's Big Three automakers.
For 2020, Ford is introducing out a new Mustang-inspired, all-electric crossover vehicle and bringing back the Ford Bronco SUV, which was discontinued in 1996.
Uncommon issues during this year's talks include technological changes threatening traditional union jobs and an ongoing federal corruption probe that has already led to eight convictions.
The talks are expected to be the most contentious in a decade amid "America first" policies from the Trump administration, a tight labor market and thousands of job cuts and cost reductions as the industry prepares for an expected economic downturn.
A large share of the 12,000 new European job cuts will target hourly employees.
Ford Motor said Monday that it is laying off about 7,000 salaried workers, about 10% of that global workforce, as part of a restructuring plan designed to save the No. 2 automaker $600 million annually.
As millions of Americans begin to signal interest in electric vehicles, Ford Motor says innovating in the EV industry is one of the automaker's top priorities as it prepares to roll out 16 battery-electric vehicles by 2022.
Despite a steep decline in first-quarter profits, investors are turning upbeat on the second-largest domestic automaker, sending Ford shares soaring past the $10 mark for the first time since last August.
Ford is building a new plant in Michigan as the company realigns factories to focus on its future lineup of self-driving and electric cars.
Both automakers already have commercial vehicles businesses around the world, and the commercial vehicle segment is expected to grow in the near future.
CNBC's Phil LeBeau sits down with Ford CEO Jim Hackett to discuss the state of the company and what they expect going forward.
Ford CEO Jim Hackett said on a conference call the automaker will begin sharing more information on the plans to redesign the company
Investors and industry analysts have become frustrated by Ford's weak performance and CEO Jim Hackett's lack of details on restructuring plans.
The automaker is suffering from the appearance that it lacks transparency and decisive action.
The automaker's shares fell 3.4 percent Tuesday to close at $8.95, finishing the day under $9 for the first time since August of 2012. The stock is down more than 28 percent so far this year.
BBDO, part of Omnicom, will now run brand advertising, which means it will create overarching big ideas for Ford and its vehicles. WPP's agencies will now have to follow BBDO's creative lead.