The company is also pulling out of the Indonesian market. Ford failed to make a dent in market share in either country. Employees were notified via email.
Ford Motor Company
Ford is promoting Mark LaNeve to become the head of the automaker's marketing, sales, service and dealer relations in the US, replacing John Felice, who is retiring. LaNeve is an auto industry veteran with previous experience in high-ranking position at General Motors, Volvo Cars North America and others. His previous position was as the chief operating officer at Global Ford Team, the Blue Oval's global advertising agency.
These days, when you buy a new car, it's not unreasonable to expect a certain period of free maintenance to come along as well. Sometimes this is through the life of the warranty, in other cases a little less. But Ford Motor Company is going beyond those deals for at least one part of its cars. As of now, if you buy a set of Motorcraft brake pads for a Ford, Lincoln or Mercury model, you get free replacements for as long as you own the vehicle. The offer is good at Ford or Lincoln dealers and Qu
Who says executives aren't people? This past weekend, Bill Ford, executive chairman of Ford Motor Company, and a group of employees trekked up to Eagle River, WI for a few games of pond hockey. Team Ford took part in the 2014 Labatt Blue/USA Pond Hockey Championship, capturing its fifth title in the 50+ Tier 1 Division.
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.
Ford's board is open to CEO Alan Mulally stepping down before his planned departure in 2014, inside sources are telling Reuters. Ford's plan of succession, aside from who would be his actual successor, has been something approaching common knowledge – the 68-year-old former Boeing exec had plans to stay through 2014. This was recently confirmed by Mulally himself on Bloomberg Television and in Automotive News.
Bill Ford Jr. has more sway than ever over the automaker that bears his surname, as the great-grandson of Ford's founder has reportedly doubled is holdings of Class B Ford stock. According to a report from Reuters (which cites a newly discovered securities filing), he acquired some 3.7 million Class B shares from an unnamed family member.
With a new boss at the helm, Ford is looking at new ways to improve its vehicle launches in North America to prevent recent issues that have popped up with models like the Lincoln MKZ, Ford Escape and Ford Fusion. Speaking with Automotive News, Ford's new president of the Americas, Joe Hinrichs, revealed a few ways the automaker plans to avoid early build issues such as the engine fires on certain 2013 Escape and Fusion models and months-long delays for customers to receive their MKZs.
As predicted, Ford has reported that its first quarter of 2013 was a resounding success overall, with a pretax profit of $2.1 billion ($0.41 per share), and a net income of $1.6 billion ($0.40 per share). In fact, Ford made a pretax profit of some $2.4 billion in its home North American market, with that total number being pulled down by losses in South America and Europe. That gaudy North American profit is the strongest result by the automaker since 2000.
Joe Hinrichs, Ford's President of The Americas (pictured above), announced today that in late 2014, the automaker will be building the 2.0-liter EcoBoost four-cylinder at its Cleveland Engine Plant, a move requiring a $200-million investment and the hiring of 450 new employees. European-built Ford products will continue to source this engine from the Valencia, Spain plant where all of these EcoBoost four-cylinder engines are currently built, and the new Cleveland engines will be used for all Nor
What looks to be the next Ford Edge has been leaked in an apparent corporate Powerpoint presentation deck. Despite the thumbnail image's blurry and pixelated quality, it appears as if the next generation crossover will be staying close to its current aesthetic despite an all-new front clip with redesigned grille, headlamps, and lower fascia with integrated fog lights.
Now that the bell has rung to signal the end of Q3 2012, Ford is standing in the ring with both hands in the air like Rocky: The company's overall profit of $1.63 billion for the last three months is nearly equal to its entire 2011 total of $1.94B. Those numbers come thank to the record-breaking pretax operating profit in North America of $2.33B on revenues of $19.5B, the third straight quarter that The Blue Oval has crossed the two-billion mark. Customers are paying more, on average, for Ford v
Ford President and CEO Alan Mulally was on CBS This Morning talking about a variety of topics ranging from trade tensions between the U.S. and China to the 2013 Ford Fusion, but our interest was piqued when he started talking about his retirement. Just last week, we reported that Mark Fields is being named the Chief Operating Officer at Ford, putting him in a prime position to take over the reins of the company following eventual Mulally's departure.
Buick has done well for itself in the Chinese auto market, and now Ford Motor Company is hoping it can find a similar success by introducing Lincoln to the growing market. Starting during the second half of 2014, Lincoln will begin selling its cars in China through a dealer network that will deliver a personalized brand experience.
Ford Motor Company knows a thing or two about building an empire on the back of a rock-bottom-priced automobile sold to customers in rural regions. That's why the company's strategy in China has been baffling to some analysts. Fords are expensive in China, and there are only a few models that you can get there. This is a problem for Ford, especially as the market for new cars in China, once hotter than the sun, cools a bit. With other markets plumbing new depths, Bloomberg reports that Ford is g