Ford sells about 7.6% of the world’s vehicles, a $2.3 trillion market, which is expected to reach $3.5 trillion by 2030, a nice trajectory for a mature business, according to Forbes. But the larger transportation market–what people spend to get around via mass transit, taxis, Uber and Lyft, for example–is worth trillions and growing. “We get zero of that,” says Fields. “The question is, how do we get more? Even if we get a small amount, it could be hugely beneficial to the company. This is not about moving from an old business to a new business,” he tells Forbes. “This is about moving to a bigger business.”
As Fields looks toward the future, the company announced on Monday that it would invest 11.4 billion yuan ($1.8 billion) over the next five years to expand research and development in China, the latest effort by the U.S. carmaker to secure a larger slice of the world’s biggest auto market, according to CNBC. Speaking at a corporate event in Shanghai, Fields said the company will introduce the C-MAX Energi, a plug-in hybrid, and the Mondeo conventional hybrid to the China market next year.
Meanwhile, back home on U.S. soil, Fields is pushing Lincoln, Ford’s key luxury brand. The prototype for the 2016 Lincoln Continental gradually awakens when it senses the car’s owner approaching. “Like a child slowly waking to his mother’s voice, the car’s LED headlamps blink on, then a lamp illuminates the ground beneath the driver’s door and soft lights slowly warm the interior, as if the car were stretching to begin a new day,” Forbes explained, noting that reviving Lincoln is an “urgent mission” for Fields.
With luxury cars accounting for one-third of industry profits, Ford’s lack of a credible premium brand means it is missing out on billions of dollars in extra income. But he knows it will take time. “With this sedan concept we really wanted to connote the future,” he told Forbes staff writer Joann Muller.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
0
1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
