Ford moving beyond selling cars, trucks; investing heavily in mobility services, says chairman

Automaker forecast emerging mobility business could generate profit margin of up to 20%

Ford is moving beyond selling cars and trucks and is investing heavily in mobility services like ride sharing, Bill Ford, chairman of the US-based automaker said while speaking at Automotive News World Congress in Detroit, Michigan (United States) on 10 January. Ford foresees significant growth opportunities in the emerging mobility business. “I think this is a huge opportunity for companies. It's going to create revenue streams and business opportunities the likes of which we've never seen,” he said. The US automaker has predicted that it could make profit margins of up to 20% on new services, substantially higher than what it makes on selling cars and trucks.