Tag Archives: ford motor

Ford Places $1B Bet in Argo AI on Autonomous Vehicles

The very small Argo AI team of specialists in robotics and artificial intelligence is led by founders Bryan Salesky, CEO, and Peter Rander, COO. Both are alumni of Carnegie Mellon National Robotics Engineering Center and former heads of the self-driving car teams of Google and Uber, respectively. Continue reading

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During Q2 Ford Posts Best Profits, $2.9B, Since 2000

It was Ford’s best automotive quarterly profit since 2000. Continue reading

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Ford Motor Used Vehicle Sales Running at Record Levels

In general, automakers are setting record used car sales through their dealers as the U.S. economy slowly recovers – more than 80% of workers commute to work in vehicles – and interest rates remain at absurdly low rates as taxpayers continue to subsidize the bankers and Wall Street firms that caused the Great Recession. Record high new vehicle prices – more than $30,000 on average for a car, +$40,000 for a truck – are also forcing some buyers into used vehicles. Continue reading

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Ford Motor Q2 Profit at $2.6 Billion or 30 Cents a Share

Ford Motor Company [NYSE: F] reported Q2 2013 pre-tax profits of $2.6 billion today, or 45 cents per share. The good overall result, which had analysts gushing over an automotive operating margin of 6.4%, improved 1.5 percentage points from 2012 at $726 million, or 15 cents per share, higher compared with a year ago. Continue reading

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Ford Motor Posts Q1 Profit of $2.1 Billion

The Ford Motor profit of 41 cents per share was $147 million lower than a year ago as results in Asia were weak because of ongoing expansion; weaker still in South America because of currency problems in Venezuela and Argentina, as well as competition, and frankly disastrous in Europe where Ford has not been able to stem a flood tide of red ink for decades. Continue reading

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Ford Makes $8 Billion in 2012 – Almost all in North America

Ford remains heavily dependent on the slowly recovering North American auto market, where it earned $8.3 billion, with an operating margin of 10% on sales of 2.8 million vehicles during 2012. Because of Ford’s 2012 financial performance, the company will make profit sharing payments to 45,800 U.S. hourly employees of $8,300 each. Ford expects similar North American results in 2013, with perhaps a profit increase if the pickup truck – where it is the sales leader – market continues to recover. Continue reading

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Ex Ford EVP David Thursfield Sentenced to Jail over Divorce

David Thursfield, a former executive vice president of Ford Motor Company and then a top Cerberus executive, has been sentenced to two years in jail in Great Britain for allegedly hiding assets during a contentious divorce settlement in 2005. Continue reading

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Ford’s Mulally to Remain as President CEO through at Least 2014

Ford Motor Company Executive Chairman Bill Ford said today that Alan Mulally plans to continue to serve as Ford president and CEO through at least 2014. Mark Fields was named the company’s chief operating officer effective 1 December. The announcement has industry observers debating whether Fields is ultimately talented enough to lead the U.S.’s second largest automaker. Fields will continue to report to Mulally, as will the company’s chief financial officer, general counsel and group vice president of Human Resources and Corporate Services. Continue reading

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Ford Motor U.S. Sales Flat in October – Second Month on Hold

Ford Motor Company posted weak sales of 168,456 total vehicles in October, unchanged from a year ago in an industry that grew more than 8%. Retail sales were up 2% compared to last year. It was Ford’s second straight no-growth month of the year. Continue reading

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Ford Motor to Sell Former Visteon Lighting Plant in Ohio

After this sale, ACH or Automotive Components Holdings will have only one remaining operation – the climate control business at its Sheldon Road plant in Plymouth Township, Mich. ACH was formed by Ford in 2005 to sell or close 23 former Visteon plants. Continue reading

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Toyota to Increase V6 Engine Output in Alabama

In April, Toyota Motor Sales came within a rounding error of surpassing Ford Motor Company as the Number Two selling automotive group in the U.S. Ford Motor’s U.S. sales decreased 5% in April year-over-year to 179,660 vehicles in a market that was up 2.3%, in part because its plants were running flat out. Number Three Toyota Motor Sales reported April sales of 178,044, up 12%. Year-to-date, Toyota Motor trails Ford Motor by 52,000 cars and light trucks, a gap is decreasing each month. Continue reading

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Harold ‘Red’ Poling – Ex CEO and Chairman of Ford – Dead

My favorite Poling story was when Ford was looking to buy Alfa Romeo. So they had a car in the executive garage for Red and other senior execs to drive. One problem, Red’s big wing tips didn’t allow him to operate the small pedals unimpeded. Therefore, he took them off and drove the car in his socks, leaving the shoes on the walkway. It is unknown if the garage staff polished the shoes while he was gone. Continue reading

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Ford Cuts Summer Shutdown in North America as Lack of Capacity is Hurting Sales and Share in Recovering Market

Ford Motor’s U.S. sales decreased 5% in April to 179,660 vehicles in a market that was up 2.3%, in part because its plants were running flat out. Ford is now facing a strong challenge from Number Three Toyota Motor Sales, which reported April sales of 178,044, up 12% y-o-y. Year-to-date, Toyota Motor trails Ford Motor by 52,000 cars and light trucks, a gap that decreases each month. Continue reading

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Ford Motor Pays CEO Mulally More than $29 Million in 2011

Ford Motor Company paid Alan Mulally, president and CEO, $2,000,000 in salary and $5,460,000 in cash bonus in 2011. Mulally’s total compensation, including the value of long-term stock options, was $29,497,572. Continue reading

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Ford Extends Its $9 billion Revolving Credit Line with Lenders

In a separate transaction, Ford announced its first renminbi-denominated bond issue aimed at RMB investors in Hong Kong, Singapore and elsewhere outside the United States, with total proceeds of RMB 1 billion or about USD $158 million. Ford is losing money in the Asia-Pacific region. In the fourth quarter of 2011, Ford Asia Pacific Africa reported a pre-tax operating loss of $83 million, compared with a profit of $23 million a year ago. Continue reading

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