Ford’s Farley: Cut costs, improve quality and boost margins through software and services

DEARBORN, Mich. (AP) — Ford CEO Jim Farley says his company is remaking itself by cutting costs, raising quality and offering software, services and new vehicles that will make profit margins among the best in the industry. Farley and other executives gave details on how it will get there over the next few years during a capital markets day event Monday near its Dearborn, Michigan headquarters. Farley says Ford will emphasize software and services as well as iconic vehicles such as pickup trucks, large SUVs, commercial vehicles and advanced second-generation electric vehicles. He says the company is eliminating waste to close a cost gap with the best in the industry with a “lean disciplined operating system” that reaches into all Ford factories.