Ford restructuring plan shifts up a gear

Ford restructuring plan shifts up a gear

By Doug Cameron in Chicago

Ford will unveil its accelerated restructuring plan at the end of next month as the US carmaker tries to halt losses and adapt to a huge change in domestic demand. Mark Fields, president of Ford Americas, yesterday said it would speed up the "Way Forward" plan announced in January in response to the changes in buying habits caused by high fuel prices and market trends.

Ford suffered from the fall in demand for large pick-up trucks and utility vehicles, once its most profitable segment, in the face of $3-a-gallon petrol prices. It has also been hit by the poor performance of its luxury car segment and has hired advisers to explore a potential sale of non-core assets.

Mr Fields outlined a range of future product launches, including an addition to the luxury Lincoln brand. "I can confirm that our plans do include more new products and quicker and deeper cost-cutting," he said. They may have to add to the 14 plant closures and 12,000 job cuts outlined in January. "Acceleration doesn't mean a new plan. It means a new timetable."

Mr Fields said Ford's own new product line-up had seen it gain market share in the light-truck sector and maintain the steady share in the car segment, despite being overtaken in July sales by Toyota, the first time the Japanese auto maker has claimed the second spot in the US market behind GM.

Ford is also considering plans to invest $1bn at its plants in Michigan to improve flexibility and boost research and development to keep up with changing consumer tastes.

Financial Times

Vocabulary notes

gear v— приводить в движение, направлять по определённому плану

suffer(from) v—страдать, мучиться от

fall n – падение, понижение, спад

assets n—активы, средства, фонды, имущество

luxury n—предмет роскоши

adviser n—советник, консультант

acceleration n—ускорение, акселерация

segment—деление, сегментация

Useful expressions:

domestic demand— спрос на товары и услуги на внутреннем рынке

to unveil a plan—снять завесу тайны с какого-либо плана

to halt losses—приостановить убытки, потери

to adapt to smth—приспосабливаться, привыкать к чему-либо

to speed up the plan—ускорять развитие плана

in response to(the change)—в ответ на изменения

non-core assets—менее важные активы; собственность(имущество) компании

to include cost-cutting—включить снижение расходов

plant closures and job cuts—закрытие заводов и сокращение рабочих мест

to gain(maintain) market share—добиться(сохранить) долю товара на рынке

to be behind smb in the market—быть позади кого-либо на рынке

to improve flexibility—совершенствовать(улучшать) гибкость

to boost research and development—увеличение исследования в области разработки новой продукции или нового метода

Give Russian equivalents to these expressions:

to shift up a gear—

an accelerated restricting plan—

to be caused by high fuel prices and market trends—

to suffer from the fall in demand for smth—

to explore a potential sale for—

to outline a range of future product launches—

to own new product line-up—

to be overtaken in… sales by smb—

to claim the second spot in the market—

to keep ip with changing consumer tastes—

Give the three forms to the verbs:

keep, have, hit, mean, overtake

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