The auto manufacturer says its global operations hit the "off" switch, and anticipates higher losses in the second quarter.
Offers include seven-year interest-free loans and no payments for six months.
Detroit dominates U.S. pickup truck sales. Traditionally it's been hard for newcomers to break in.
The Detroit automaker is gambling that the combination of an SUV body shape, electric drivetrain, and the Mustang badge, will attract buyers.
Like all automakers, Ford's trying to balance selling profit-making vehicles and preparing for an uncertain future.
The two automakers will become equal owners of Argo AI, a robocar firm that was majority-owned by Ford, with plans to put autonomous vehicles on the roads in the U.S. and Europe.
In his 32-year career at Ford and then Chrysler, Iacocca helped launch some of Detroit’s best-selling and most significant vehicles, including the minivan, the Chrysler K-cars and the Ford Escort.
Ford’s plan to close a 40-year-old engine factory at Bridgend, South Wales has angered and alarmed the local community.
Will battery charge pose a challenge?
General Motors this week announced plans to build a new heavy-duty Chevy Silverado pickup truck in Michigan as it cut 4,000 jobs.