“Our industrial platform continues to deliver progress against our targets and we remain on track to deliver $1 billion in net cost reductions this year, excluding the impact of changes in tariff policy.”

In context

“our competitors' responses to these tariffs. It's also early to gauge the related market dynamics, including the potential industry-wide supply-chain disruptions and the impact of Ford's domestic manufacturing advantages. And as a result, we've decided to suspend our guidance. It's clear, however, that in this new environment in which automakers with the largest US footprint will have a big advantage. And boy, is that true for Ford. It puts us in the pole position plus we have the largest value unlock even beyond that, because of our improving cost and quality opportunities. Kumar? Kumar Galhotra: Thank you, Jim. Before I walk everyone through how we are managing the business during this evolving policy landscape, I want to quickly highlight the progress we're making on cost and quality. Our industrial platform continues to deliver progress against our targets and we remain on track to deliver $1 billion in net cost reductions this year, excluding the impact of changes in tariff policy. We're also closing our competitive cost gap and efficiently leveraging our US footprint as a competitive advantage. We're improving our production stability and we're working to strengthen our supply base. We are achieving all this by shifting our focus to the key process inputs, which in turn deliver the desired outputs and those desired outputs, of course are lower cost and better quality. Let me give you a few examples of what I mean by inputs in these processes. For example, we are doing thorough readiness assessments of every workstation in our assembly plants ahead of every launch. We are building a continuous pipeline of cost and quality improvement ideas. So, not only are we executing this quarter, we have a very clear pipeline for the next quarter and the quarter after that. We'r”