Over the course of the next three years, Ford Motor Company plans to invest $850 million to retool seven of its Michigan plants. A significant portion of this funding will go towards engineering and producing Ford's new six-speed automatic transmission. By 2013, this six-speed auto, which is touted as one of Ford's most efficient trannies, will be available in every model in the automaker's lineup.
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According to a new study by the University of Michigan Transportation Research Institute, the Detroit three automakers need to make major changes in their current corporate cultures if they truly want to reverse their fortunes, and that will likely require new leadership. Says Walter McManus, director of the Transportation Research Institute's Automotive Analysis Division and co-author of the report:
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