Ford sticks to product plans despite falling fuel price

A drop in the price at the pump won't deter Ford from its plan to revamp its North American lineup, a company official said today. This year's first-half fuel price rises prompted the entire industry to change its tactics even as they face dismal sales on product lines better suited to fuel prices below half of their peak levels of over $4 per gallon.

Mark Fields, Ford's president of the Americas, says the company is hopeful that fuel prices will continue to go down, but that he's not sure it will correlate to a boost in car sales or industry profits. Nevertheless, it could prove a boon to the economy in general, and that is thought to be the lynchpin to the industry's turnaround.

Other factors, including ongoing instability in the job market, tough conditions for customers seeking financing and other non-industry economic issues are contributing to the conservative outlook, reports Reuters. In the mean time, as the economy trundles along, Ford will continue with plans to make its lineup more profitable, stronger selling and more fuel efficient as part of its long-term view, though those plans continue to evolve.

Just last week, the company announced it was delaying development of its new, smaller pickup, dubbed the F-100, in favor of more efficient versions of its existing F-150.