Ford Motor Company announced Wednesday that it has posted a $1 billion profit for the second quarter of 2012. That sounds like good news for the Blue Oval, until you take into account that Ford posted a $2.4 billion profit for Q2 a year ago. That is a substantial 58 percent loss.
Ford Motor Company's development of upcoming battery-electric vehicles (BEVs) has been, so far, an outside job. Electric versions of the Transit Connect and the Ford Focus were developed with the help of suppliers Azure Dynamics Inc. and Magna International Inc., but Ford has not ruled out producing future BEVs in-house. As Ford's director of electrification programs Sherif Marakby stated:
What's good for the goose may be good for the gander, but what works for one country or automaker doesn't necessarily work for another. So while the Canadian Auto Workers union may have approved a new agreement with Ford, below the 49th parallel their compatriots apparently feel otherwise.
On the surface, at least, news that a company lost $1.4 billion wouldn't normally be greeted as good news by Wall Street. However, the Ford Motor company's just-published quarterly earning reports have done just that, with the stock trading 15% ahead of yesterday and the entire Dow Jones stock market perking up at the news.
Click either image for a high-res gallery of 2010 Ford Taurus spy shots
Ford's biggest announcement at the LA Auto Show was the Lincoln MKS. While the Lincoln brand certainly doesn't scream green transportation, a Ford press release sent out earlier this morning makes sure to note that this car will be "the most powerful and fuel-efficient all-wheel-drive luxury sedan in the market."
In an interview with Whatcar?, Ford's global product development boss Richard Parry-Jones said car buyers need to embrace greener cars if global warming is to be overcome. In fact, Parry-Jones goes on to say it's the role of the consumer, not car manufacturers, to save the planet from polluting automobiles. Government incentives for eco-conscious car shoppers, not punishment of manufacturers, is the way to go, he said.
After 33 years with FoMoCo, A.J. Wagner will retire on January, 1st 2007. Holding both a Vice President's position for the automaker and serving as the president of Ford Motor Credit Company in North America. Wagner's departure, according to the man himself, serves to make Ford, "a smaller, leaner company."
An analyst with Bear Stearns delivered an interesting assessment of the domestic automakers today, stating that Ford's credit rating deserves a boost on the basis of its upcoming expected turnaround performance. The stock's rating was cranked up two notches from "underperform" to "overperform", and indeed its value has enjoyed an increase of nearly 15% in the last month (granted, it's coming off a slump that saw it nearly touch on its 52-week low, and it's still over 20% down from its peak in th
As talks approach with General Motors head Rick Wagoner, Carlos Ghosn is stating that he has no desire to head up the conglomerate if a merger of sorts takes place. Apparently, he feels that he's busy enough running both Nissan and Renault. Ghosn did show some interest in getting a board seat if a deal was struck with GM, though.
As part of Ford Motor Company's Way Forward plan, the automaker has transformed its Dearborn Proving Grounds facility into the new Dearborn Development Center - a $43M renovation that allows for thorough physical testing of a vehicle's performance and durability.
From all appearances, Ford Motor Company feels it will need a well-baited hook in order to attract investors to its most recent issue of bonds. As such, the Blue Oval crew is offering $2.5 billion with rates as high as 10.75 percent - a record for the company. Analysts state that this is "an expensive way" for the company to hold onto its $21.2B in cash, even as its prepares for yet another round of downsizing. Ford itself confesses that selling credit is currently "a little
When Ford Motor Company reports its first quarter earnings tomorrow, the automaker is likely to report a decline thanks to a huge drop in SUV sales and diminishing market share. Analysts say that Ford's dependence on big SUVs, combined with surging gas prices have negated any effect so far of Ford's "Way Forward" plan, which will close 12 plants and cut 30,000 jobs over the next six years.
Could the Lincoln Zephyr, soon to be known as the MKZ, be bringing the average age of Lincoln drivers down a notch or two? Automotive News reports that while the average age of a Lincoln owner is 60 (and the Town Car's drivers are 70 ), the Zephyr's average buyer during the first three weeks of March was 56.
Virtually all automakers attempt to mold their image by aligning themselves with other organizations and sporting events, but we can't think of a recent move as extreme as that of Ford Motor Co. dropping its interest in the genteel sport of golf to sponsor professional bull-riding.