Ford Botches Explorer Launch, Putting CEO Back on the Hot Seat
- Hackett attached himself to model that’s stumbled out the gate
- SUVs have needed rework at second plant and at dealerships
A Ford Explorer SUV.
Photographer: Jasper Juinen/BloombergThis article is for subscribers only.
Ford Motor Co.’s Jim Hackett and Wall Street analysts started this year frustrated with one another. Sure, the automaker had been underperforming, but the chief executive appealed for time to show he was fixing things. He assured them the redesigned Explorer SUV rolling out months later would be a proof point.
But rather than help the earnings results Ford delivers this week, the Explorer will be a hindrance. Sales have plunged as a plant plagued by personnel problems has struggled to get the new sport utility vehicle out the door. Thousands have been shipped 270 miles away to another Ford factory for rework.