Ford Motor Co.'s top executives on Thursday vigorously defended the automaker's plan to discontinue all of its North American sedans as a way to better meet customer needs by "reinventing the American car" rather than a retreat in response to falling sales.
During the company's annual shareholders meeting, CEO Jim Hackett and Executive Chairman Bill Ford were questioned repeatedly about the decision to ax the Fiesta, Fusion, Taurus and all but a wagon variant of the Focus in the U.S. over the next few years. Critics have called the move to focus on higher-margin SUVs, crossovers and pickups short-sighted, saying the automaker is abandoning segments that remain popular with entry-level buyers.
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