Ford Motor Company

Tacitly acknowledging that The Way Forward introduced in January isn't working for its board or the critics, Ford Motor Company unveiled a sped-up version just after William Clay Ford Jr. stepped down as chief executive officer of the company. His replacement is Alan Mulally, who's not a car guy but comes to FoMoCo at age 61 after a career at Boeing's commercial aircraft division. He's considered a "turnaround expert" who fought back European rival Airbus and led development of the 777 and 787 airliners.

After the Ford board met to discuss the revamped plan, president of the Americas Mark Fields announced that the automaker is speeding up development of cars and trucks in the pipeline. "Development is now underway on five new vehicles that previously didn't exist and that'll be on the road in the future. And, even in the near term, the pace will accelerate." He promised 70 percent of Fords, Lincolns, and Mercurys will be all-new or "significantly freshened" by the end of 2008.

Ford Motor Company's goal for profitability by 2008 has been pushed back a year to 2009, Fields says. That's the cost of accelerating product development. But that development slipped in timing in the first place because of the past few years' serious financial setbacks.

Ford offered its 75,000 United Auto Worker members a buyout in a move similar to General Motors's earlier this year. The hope is that about 30,000 will take the buyouts, easing the personnel costs associated with plant closings. The automaker also plans to cut its white-collar workforce by 14,000 by the end of the year.

If there's one constant, it's the profitable Lincoln Town Car. Ford had planned to stop production next year, but has instead moved it to another plant, where it'll continue to serve livery services nationwide.

Here's Hoping
The new cars and trucks on which Ford is betting its future...

Focus
Not an all-new car, but a significant refresh of the current model, with a two-bar horizontal grille (the Fusion's three-bar won't fit). Three- and five-door hatchbacks are gone for model year 2008, with a two-door coupe replacing the three-door. Ford plans a full remake by about 2010 to converge with the third-generation European Focus.
Good News: It's a small, fuel-efficient car
Bad News: It's old technology

Ford D471
Development started with the Fairlane concept from Detroit 2005, although the production model won't get that historic nameplate. Based on the front-drive Volvo S80 (Ford Five Hundred) architecture, it essentially replaces the Freestar minivan and will overlap with the Freestyle for about a year before that car is retired from the lineup. Styling is said to be much changed from the concept. Model year 2009.
Good News: It's a minivan alternative
Bad News: Is that what customers want?

Lincoln D472
A luxury version of the Ford Fairlane/D471, its closest competitor will probably be the 2008 Buick Enclave. It essentially replaces the Mercury Montego minivan, which further spurs rumors that Ford is considering cutting the Mercury division. For that to happen, Lincoln must have strong, popularly priced cars and trucks to satisfy dealers that they can sell Lincolns without Mercury. Model year 2009.
Good News: Expands the Lincoln range
Bad News: But it's just another fancy Ford

Ford P1 F-150
The automaker has pulled forward its next full-size pickup truck, probably to be on sale by early 2008, to compete with the new Chevy Silverados/GMC Sierras on dealer lots and the new Toyota Tundra coming in February. The canceled Hurricane 6.2-liter V-8 is on again and should make its debut with the new truck. A turbodiesel V-6 is also in the works.
Good News: F-150 is still the segment icon
Bad News: Gas prices and Toyota are closing in

Lincoln MKS
Based on the Detroit 2006 show car, it's another front-/all-wheel-drive Volvo S80-platform model, designed to replace the LS. But Ford has dropped the Volvo's Yamaha-designed 4.4-liter V-8 from MKS production plans. Instead, Fields announced the car would have an "exclusive" 3.7-liter engine, probably a bored or stroked 3.5-liter V-6. Early 2008 production.
Good News: A Lincoln that's not just a rebadged Ford
Bad News: Unlike Caddy, there's no V-8