Ford Mustang Bullitt unveiled at Detroit Motor Show

Ford just had its worst day in a year and a half

William Walker CNN

Hackett was asked to take over from Mark Fields last May after Ford's stock price had dropped and critics began to suggest the company lacked focus and direction.

The Detroit Motor Show is very much a vehicle show though, with several new cars unveiled for the years ahead.

While this year's Auto Show may be short of big technology stories its laying the foundation for the automotive industry of the not too distant future. "We believe man-made Carbon dioxide is contributing to climate change and we've got our part to play", Ford's head of North American operations Raj Nair said.

The expanded engineering capabilities enabled by the Ford Engineering Laboratory will allow the team to control a network of world class facilities in China, England, Germany, and the U.S. Through this network, the EPE team will take advantage of globally connected technologies to develop light, durable EV batteries. "This is still the premier auto show on the planet and where the future of mobility meets the pavement". We're seeing a lot of growth in that mid-size truck segment.

GM chief executive Mary Barra has led a dramatic overhaul of the No. 1 United States automaker, selling its unprofitable European operations, exiting troubled Asian markets, and giving the green light to investments in self-driving vehicles and an expanded portfolio of electric vehicles.

The company also offered clarity to Hackett's message to Wall Street in October that the company would reduce its number of models.

The company also plans to look for ways to cut costs. Speaking at the recent Detroit Auto Show, Ford Chairman Bill Ford said: "We're all in on this and we're taking our mainstream vehicles, our most iconic vehicles, and we're electrifying them", adding "If we want to be successful with electrification, we have to do it with vehicles that are already popular".

"Our strategy in electrification has shifted".

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Highlights of the 2015 plan included the addition of 13 new electric vehicles to the Ford line by 2020.

Federal tax legislation signed previous year was referenced during the presentation with Farley and Bob Shanks, Ford executive vice president and chief financial officer, but there was no mention of employee bonuses.

US pickup truck sales accelerated almost 5 percent in 2017. General Motors does not plan to pay bonuses related to the tax reform.

Poor performance in South America was also a topic, with a commitment to make changes. For as little as $3, you can help us. It expects to report $1.78 earnings per share for the year.

The company also announced a first quarter regular dividend of 28 cents per share.

Shanks expects Ford will post a $7.8 billion profit for 2017.

Hackett, a former University of Michigan lineman, who came to Ford after a 20-year stint as the CEO of Steelcase, the renowned furniture company based in Grand Rapids, Michigan, and an 18-month stint as U-M's Athletic Director, emphasized that he loves his new job.

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