Ford of Europe has introduced a restructuring plan which aims to improve profits and lower costs. As part of the initiative, Ford will create a "more streamlined and profitable product line." The company declined to say which models will be getting the axe but noted the company will eliminate some of its "less profitable" vehicles.

Ford of Europe has introduced a restructuring plan which aims to improve profits and lower costs.

As part of the initiative, Ford will create a "more streamlined and profitable product line."  The company declined to say which models will be getting the axe but noted the company will eliminate some of its "less profitable" vehicles.

Despite announcing plans to kill off a handful of models, Ford confirmed it will launch seven new or refreshed vehicles this year.  These include the Focus RS, the new Edge, and the facelifted Kuga.

Since crossovers and SUVs are now the most popular segment in Europe, Ford will launch five new models in the next three years.  The company is keeping details under wraps but confirmed one of them will be the all-new Edge which will go on sale in the second quarter.

Ford will also introduce new hybrid, plug-in hybrid, and electric vehicles by 2020.  Buyers can also look forward to an expanded Vignale lineup that will include at least five models by 2017.  

In the short term, Ford of Europe will launch a "voluntary separation program" which seeks to reduce administrative costs by letting a handful of employees go.  Ford declined to say how many people are expected to take part in the program but noted the initiative is expected to save about $200 million a year.

In a statement, Ford Executive Vice President of the EMEA region said “We are creating a far more lean and efficient business that can deliver healthy returns and earn future investment. Our job is to make our vehicles as efficiently as possible, spending every dollar in a way that serves customers’ needs and desires, and creating a truly sustainable, customer-focused business.”

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