One is a member of the Detroit Three and the maker of the Mustang, Fusion, Explorer and F-150. The other is an admitted loudmouthed, drunk-driving, crack-smoking mayor in Canada. Unfortunately for one, it shares its name with the other. Yes, Ford Motor Company is going to great lengths to keep its iconic Blue Oval logo from being appropriated by supporters of besieged Toronto mayor Rob Ford.
Moody's upgraded Ford's credit rating to investment grade today, the final step for the company to be able to reclaim its Blue Oval. Ford had offered its globally recognized trademark as part of a 2006 loan package. According to the Detroit Free Press, the collateralized logo and the rest of Fod's assets and intellectual property would not return to the automaker until it achieved an investment-grade credit rating with at least two of the three major agencies. Last month, Ford's credit was upgra
Alan Mulally has done a lot of good for the Blue Oval brand, but the Ford CEO still has big plans for the automaker. In fact, Mulally's goal is to see a 50 percent increase in global sales by the year 2015. An ambitious target, which would see Ford selling nearly eight million vehicles around the world.
March sales don't end until Thursday evening, but an Edmunds sales forecast suggests that Ford could beat General Motors in sales for the first time since February, 2010. The Blue Oval is projected to sell 210,000 vehicles for the month, up 34 percent from February figures. Edmunds sees GM having a solid month as well, but the crystal ball sees 208,000 sales for The General, up less than one percent from February sales.
Ford Motor Company Executive Chairman Bill Ford, Jr. and Chief Executive Alan Mulally have reportedly been given big-time bonuses by the Blue Oval for keeping things moving when General Motors and Chrysler filed for bankruptcy. Mulally received $56.5 million worth of Ford stock before taxes and Ford got stock worth $42.4 million.
Ford has announced plans to start a hiring onslaught and over the course of the next two years the automaker will add more than 7,000 employees to its ranks. Hiring both salaried and hourly employees, Ford is looking for a few good men and women in the States. In 2011, it plans to hire around 4,000 folks to fill positions at a number of plants including 1,800 positions opening up at the Louisville Assembly plant.
2010 was a banner year for Ford Motor Company. Market share and profits were as good as they've been in years, and there is genuine buzz surrounding the Blue Oval's cars and trucks. Heck, even Ford's stock has been a monumental success. But not all that glitters is gold, as Ford is still mired in junk bond status, which in turn makes it more expensive to borrow money. That makes it more pricey for Ford to offer incentives to customers, and lease terms are less attractive than they would otherwis
Ford's second-generation Explorer has just cost the company $131 million. Despite the popularity of the seminal SUV, it's had more than its fair share of legal scrapes regarding its rollover resistance. And while the Explorer/Firestone tire kerfuffle has long since exited the headlines, the Blue Oval continues to get its pocketbook dinged by the SUV. According to Autoblog sister site AOL Autos, this week, a jury in Jackson, Mississippi was to decide on possible punitive damages in the lawsuit ov
Today's autos are chock-full of safety equipment that vastly improves your chances of survival in the event of a crash. And if an automaker wants to achieve the best crash test scores, it has to ensure that parts like bumper beams, air bag sensors and radiator supports perform properly during a collision. But while automakers are concerned about their safety record, in some cases, aftermarket parts makers are more concerned with keeping costs down.
If Automotive News is correct – and they usually are – it looks like Mercury won't make it to Thanksgiving this year. Heck, they won't even make it through Halloween according to a new report. AN is saying that three dealers have come with forward with news of the automaker's plans. What they're saying is that the 71-year-old brand will start winding down production at the end of September. The ancient Grand Marquis gets the axe on Sept. 30, the Mountaineer on Oct. 1, the Milan on Oc