Archive for the ‘Ford’ Category

Hackett Says Ford Making Headway on Turnaround

Rollout of new Ranger leads new product onslaught.

by on Oct.23, 2018

Ford CEO Jim Hackett is talking to employees and dealers about the changes coming to the automaker.

Ford isn’t standing still in the face of changing business and economic climate, the company’s top executive said this week.

Ford Motor Co. CEO Jim Hackett was also talking up the company’s prospects as he met with dealers and employees this week.

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At a meeting with some 4,000 dealers in Las Vegas Hackett had stressed that Ford is working on a turnaround plan that will re-invigorating the company’s operations.   (more…)

Ford Sees Big Growth Opportunities for New Ranger Pickup

Late to the party but “We can’t go back and change the past.”

by on Oct.22, 2018

Ford's Joe Hinrichs introduced the first of the new Ranger midsize pickups and elaborated on Ford's future truck plans.

The first production versions of Ford’s new Ranger pickups are getting ready to roll off the assembly line, the automaker announced at a Monday morning event at its Wayne Truck Plant in suburban Detroit.

The announcement caps an $850 million makeover of the factory that had previously been producing such slow-selling models as the Focus sedan and C-Max people-mover. And it lets Ford move forward on plans to virtually eliminate its traditional passenger car line-up, the number-two domestic automaker shifting its attention to pickups, SUVs, CUVs and other light trucks.

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“We’re excited by the growth we’re seeing in the midsize pickup segment,” said Joe Hinrichs, Ford’s president of the Americas, as he addressed reporters and Ford employees outside the Wayne plant. (more…)

Ford’s New Ad Campaign Shoots Straight Hyping Products, History

First commercials debut during college football this weekend.

by on Oct.19, 2018

Ford is kicking off a new ad campaign, Built Ford Proud, that features print ads as well as new commercials.

Ford Motor Co.’s recent advertising campaigns haven’t quite hit the mark in terms of creating a positive buzz, so it’s going back to the future with an update to an oldie but goodie.

The automaker used to brag that its trucks were “Built Ford Tough,” but now the entire line-up is “Built Ford Proud.”

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Unveiled at its dealer meeting in Las Vegas, Ford’s new mantra will begin appearing on television screens this weekend, primarily during college football games. Featuring actor Bryan Cranston, famous for “Malcom in the Middle” and “Breaking Bad,” the three ads basically center on Ford’s pride in its history, ingenuity and progress. (more…)

Ford Boosting by 1/3 Production of $400,000 GT Supercar

“Demand outstripping supply by more than six-to-one.”

by on Oct.19, 2018

Ford is extending its production run of the current Ford GT to 1,350 cars. Fans have until Nov. 8 to apply to buy one.

Ford now plans to produce 1,350 of its $400,000 GT supercars, more than a third higher than the original 1,000-vehicle run it had planned when the two-seater was getting ready to come to market in 2016.

As with the original batch, however, potential buyers still will have to go through a qualification process, the Detroit automaker primarily targeting loyal customers, particularly those who purchased an earlier version of the GT.

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“The response to our Ford GT has been unprecedented, with initial demand outstripping supply by more than six-to-one,” Hermann Salenbauch, director of Ford Performance, said in a statement. “By extending the Ford GT production run for a limited period, we’re able to maintain the exclusivity of the ultra-desirable supercar while offering the ownership experience to a greater number of customers.” (more…)

Ford, VW Looking at Potentially Major Alliance

Update: Ford rules out merger or equity swap with VW.

by on Oct.18, 2018

Ford Motor Co. entered into a MoU with Volkswagen AG to work on some undetermined projects.

(This story has been updated to reflect comments from Ford ruling out a merger or equity swap.)

Like many an automotive manufacturer, Ford Motor Co. has been forming alliances with erstwhile rivals such as General Motors in a bid to reduce development costs and speed new products to market. But one potential partnership has been generating widespread buzz in industry circles, observers wondering just how far Ford might take things with German giant Volkswagen AG.

The two companies inked an MoU, or memorandum of understanding, announcing they will explore a number of possible projects, including the joint development and production of commercial vehicles.

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But industry analysts are now suggesting such a partnership could reach far beyond the commercial vehicle market, some even wondering whether there could be full-fledged merger or, at the least, an equity swap, in their future. (more…)

NHTSA Investigating 54,400 Ford Trucks for Tailgate Problem

Power tailgates fall for no reason.

by on Oct.18, 2018

NHTSA is investigating a problem with power tailgates on some 2017 Ford F-250s and F-350s.

The power tailgates on some Ford F-Series pickups are opening for no reason causing the National Highway Traffic Safety Administration to open a preliminary investigation to determine the cause of the problem.

There have been five instances in which the tailgate has opened while the truck was driving, according to the agency. Right now, the query covers 54,400 F-250 and F-350 Super Duty trucks from the 2017 model year.

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Complaints reveal the tailgate just falls open while traveling at speed, sometimes causing damage. One person said it fell while they were driving 65 mph, damaging the tailgate and the trailer they were towing. Another person said opened at least 12 times while driving. (more…)

Uber’s Estimated Valuation in IPO Pegged at $120 Billion

Lyft is looking to doing an offering as well next spring.

by on Oct.18, 2018

Uber CEO Dara Khosrowshahi has been making substantive changes to the company since his arrival.

Uber could raise as much as much as $120 billion, dwarfing the market capitalization of General Motors, Ford and Fiat Chrysler, when it launches an initial public offering next summer, according to a report in the Wall Street Journal.

Uber is already in discussions with bankers about an initial public offering in early 2019, the Journal reported. At the same time, Uber’s principal Lyft raised $15 billion during a round of fund raising and has indicated it is preparing go public next spring, raising the prospect the two ride-sharing companies could collide in the race for cash.

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Uber’s potential valuation could be greater than the combined current valuation of the U.S. automakers, the Journal reported. The comparison has been the subject of some fierce debate with some critics suggesting that for “game changing” technology companies like Uber it is not a relevant. (more…)

Ford Expands Alliance with Mahindra Group

New deal comes on heels of partnership with VW.

by on Oct.18, 2018

Ford and Mahindra officials, including Ford's Jim Farley, (l), celebrate the signing of their first alliance. The two sides added two new agreements.

(This story has been updated to more accurately represent partnership between Volkswagen and Ford.)

Just a day after rumors circulated about the state of its open-ended partnership with Volkswagen AG, Ford Motor Co. expanded its alliance with India’s Mahindra Group.

The two companies this week signed new agreements on sharing powertrains and connected car solutions to reinforce the progress made in the strategic alliance between the two companies, first announced in September 2017 and followed with five Memoranda of Understanding.

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“We are pleased with the progress our teams have made since we announced our strategic alliance with Mahindra Group a year ago,” said Jim Farley, Ford executive vice president and president of Global Markets. (more…)

Ford Treks into New Territory With China-Only Ute

New SUV starts rolling off assembly line in China.

by on Oct.16, 2018

Ford's new entry-level sport-utility, the Territory, is the first of a wave of 50 new or redesigned products for China.

Ford Motor Co.’s late arrival in the Chinese car market is well documented, and the automaker’s been attempting to make up for lost time for the past few years with varying degrees of success — until last year, when sales took a double-digit nose dive.

However, the automaker is looking to affect a dramatic change by attacking the the highest demand area for buyers in China, which was also Ford’s weak spot: sport-utility vehicles.

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The company has been teasing its new Territory midsize SUV for some time, but now it’s on the road and looking to lead Ford on a trek to strong sales and even stronger profits. The new Territory – the ute, not profitability – was developed in partnership with its joint-venture partner in China, Jiangling Motors Corp. (more…)

Bill Ford Leads Exodus from Saudi Economic Event in Response to Alleged Murder of Journalist

Global business, political and media leaders demand answers in disappearance.

by on Oct.15, 2018

Ford Chairman Bill Ford is shown during a celebration of the 100th anniversary of the carmaker's River Rouge manufacturing complex.

Bill Ford, the chairman of Ford Motor Co., is leading an exodus of high-profile business leaders who have decided to pull out for an upcoming investor conference sponsored by Saudi Arabia.

The move comes amidst growing concerns about the fate of Saudi journalist Jamal Khashoggi, who reportedly entered the Saudi consultate in Istanbul, Turkey last week but failed to leave it, raising concerns he may have been murdered by hit men dispatched by Saudi leaders.

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Khashoggi was a regular contributor to a number of publications, including the Washington Post, and had been granted U.S residency. Reports have surfaced over the last several days indicating American intelligence officials may have had advance warning that Khashoggi faced threats from the Saudis. Turkish officials, meanwhile, claim to have evidence the journalist was murdered in the embassy, his remains subsequently being smuggled out.

(more…)

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