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Ford Motor Co. Sets Records, Beats Earnings Forecasts

Few clouds on the immediate horizon.

by on Jul.28, 2015

Ford hopes to drive revenues even higher with the new Limited version of its F-150 pickup.

Just about any way you look at it, the second quarter was a good one for Ford Motor Co., the second-largest domestic automaker not only handily beating Wall Street analysts’ forecasts but delivering record numbers in North America and Asia/Pacific.

Even Europe came close to breaking even after years of heavy losses, noted Ford President and CEO Mark Fields. All told, the maker delivered net income of $1.9 billion per share, a 44% or $544 million year-over-year rise. On a per-share basis, Ford made 47 cents. That was up seven cents per share compared to the second-quarter of 2014 – and 10 cents more than the Wall Street consensus forecast.

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“We delivered an outstanding second quarter, a great first half of 2015, and we are confident the second half of the year will be even stronger,” declared Fields in a prepared statement accompanying the earnings report. “The entire Ford team is focused on accelerating our One Ford plan, delivering product excellence and driving innovation in every part of our business.”

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Ford Moves to Pilot Stage on Smart Mobility Program

Maker ready to implement plans after six months.

by on Jun.24, 2015

Ford CEO Mark Fields announced plans to implement some of the programs being testing in the maker's Smart Mobility plan.

Ford Motor Co. says its ready to implement some the lessons learned from a research program that delves into the changing landscape of mass mobility in era of smart phones and instant connectivity that was launched only six months ago.

Mark Fields, Ford chief executive officer, said the automakers operate pilot projects keyed to Ford Smart Mobility and move from research to the start of implementation, of new mobility products.

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“We now are moving from experimentation to implementation,” said Mark Fields, Ford president and CEO, at the annual said at the annual Further with Ford trends conference in San Francisco. (more…)

Is Ford Ready to Race New GT at Le Mans?

Maker set to announce “significant performance news.”

by on Jun.12, 2015

Ford Chairman Bill Ford and CEO Mark Fields unveiling the new Ford GT supercar at the Detroit Auto Show.

Ford Motor Co. is only promising some “significant performance news” will be announced in Cologne, Germany today. But based on a variety of hints the maker has been dropping, the betting is that it will announce plans to return to Le Mans in the near future, all but certainly to race the reborn Ford GT.

Rumors of a new Le Mans program began to surface even before Ford revealed the latest take on the ultracar at the North American International Auto Show in Detroit last January. Company officials then suggested they might have additional plans for the GT.

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The announcement will come just a day before the 2015 Le Mans race gets the green flag. If Ford were to put the GT back on the track in 2016 it would be more than just a coincidence. That would mark the 50th anniversary of the maker’s stunning victory at Le Mans with its original GT40 Mk II

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Ford Sales, Earnings Fall Short for First Quarter

Detroit maker hurt by problems in Europe, slow U.S. rollout of F-150.

by on Apr.28, 2015

Ford CEO Mark Fields remains optimistic about the maker's expectations for all of 2015.

(This story has been updated with additional details on Ford’s Q1 earnings and full-year forecast.)

Hurt by weak sales in Europe, the slow ramp-up of its new F-150 pickup at home, as well as the strong dollars, Ford Motor Co. delivered a weaker-than-expected showing for the first quarter of 2015, earnings off 6.5%, to $924 million.

That worked out to just 23 cents a share, the Detroit maker reported, down from 25 cents a year ago. The consensus estimate on Wall Street was 26 cents per share, according to both Fact Set and Thomson Reuters. Revenues also fell short, at $31.8 billion, down from $33.9 billion a year ago.

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Nonetheless, CEO Mark Fields declared that 2015 will be a “breakthrough year,” adding in a statement that the first quarter, a good start to a year in which our results will grow progressively stronger as the new products we have been launching start to pay off.”

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Ford Chief Fields Earns More Than $18 Million

CEO’s compensation includes salary of $1.6 million.

by on Mar.27, 2015

Ford CEO Mark Fields received more than $18 million in compensation in 2014.

Strong auto sales often means there’s money to go around for workers. The top “worker” at Ford, Mark Fields, earned $18,596,497 in 2014 as the company earned a pre-tax profit of $6.3 billion.

Fields’ compensation, which is a combination of his base salary and stock awards, options and other awards, was an increase from 2013 when his compensation was $10,170,578 as Ford’s chief operating officer.

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Fields, who took over as CEO on July 1, earned a base salary of $1,662,500 last year. His total compensation includes a $3,185,000 bonus, long-term stock options and other performance-based equity awards. (more…)

Ford Charges into China with New $760 mil Plant

Ford on the way to becoming China’s fourth-largest carmaker.

by on Mar.24, 2015

The new China plant will initially produce the Ford Edge but will have capacity for five other models.

Late to the Chinese party, Ford Motor Co. is playing a fast-paced game of catch-up. The Detroit maker’s latest move comes with the opening of a new, $760 million assembly plant in Hangzhou, about 100 miles southwest of Shanghai.

The new facility will bring to 1.2 million Ford’s rated annual capacity in China, and could position the company as the market’s fourth-largest manufacturer. But the Hangzhou plant opens just as the Chinese car market begins to cool, along with the rest of the economy, for the first time in more than a decade.

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Nonetheless, Ford CEO Mark Fields, who was on hand for the Tuesday plant dedication, was optimistic, declaring, “This world-class facility will help us accelerate the delivery of high-quality, innovative products to our customers in China.”

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Ford Will Build GT in Canada

Supplier Multimatic also produced Aston Martin One-77 supercar.

by on Feb.16, 2015

Newly painted silver, the Ford GT is now on display at the annual Chicago Auto Show.

Ford’s new all-American supercar, the GT, will actually be rolling out of a plant in Ontario, the maker has confirmed.

The 600-plus horsepower “ultracar” will be produced by Multimatic Inc., a suburban Toronto supplier with extensive experience using the exotic carbon fiber that will be used for the Ford GT body. Multimatic previously produced the Aston Martin One-77 supercar which also used the super-light material.

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Bedecked in a new silver paint scheme, the GT concept is currently on display at the Chicago Auto Show. It was originally painted blue when unveiled at the North American International Auto Show – where it was one of the event’s big surprises.

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Ford Slashes Global Product Platform Count

Fewer platforms but more new products.

by on Jan.19, 2015

Ford's new CEO Mark Fields with the 2015 Edge, one of many new models based on Ford's global platforms.

Hoping to improve its efficiency, driving up margins and driving down costs, Ford has been pushing to eliminate as many regional product platforms as possible. And it’s found ways to go further than originally planned, according to the maker’s CEO.

It will now use just eight separate platforms for its global product line-up, said CEO Mark Fields, during an appearance at an industry confab in Detroit. That’s barely half as many as it had at the beginning of the new millennium, when Ford’s North and South American, European and Asian operations functioned as virtually autonomous entities. And it’s one lower than the goal the maker had set for itself by 2016.

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“That yields tremendous benefits to improving the rate at which we introduce new vehicles,” noted CEO Fields during his comments at the Deutsche Bank Global Industry Conference.

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Lincoln Changes MKX New Car Smell for China

Brand caters to cultural preferences with new entry.

by on Jan.13, 2015

The new car smell that Americans love so much, isn't well liked by the Chinese, which caused Lincoln some problems with the new MKX.

While the development of a new vehicle is a team effort, but at some point every bit of a car eventually falls into the hands of engineers.

“We are focused on delivering engaging and refined luxury vehicles with innovative and thoughtful technologies,” said Kumar Galhotra, president of Lincoln, during the unveiling of the MKX at the North American International Auto Show. “The all-new Lincoln MKX reflects that focus.”

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In the case of the new MKX, engineers were faced with an unusual problem: interior odors. (more…)

Ford’s Smart Mobility Plan Changing Global Transportation

Maker’s 25 experiments expanding knowledge base.

by on Jan.06, 2015

Mark Fields, President and CEO, Ford Motor Company, delivers the opening keynote address at the 2015 International CES.

Ford is not just looking for ways to make cars smarter, it’s trying to change the way people around the world get from place to place. The automaker introduced its plans to do that as well as addressing its progress on autonomous vehicles as well at the Consumer Electronic Show today in Las Vegas.

Ford CEO Mark Fields told a packed house during his keynote address at CES that the automaker is actively pursuing an autonomous vehicle. However, he noted it’s not a race to get done first, but more important to get it done right and make it affordable.

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“Our priority is not in making marketing claims or being in a race for the first autonomous car on the road,” Fields said. “Our priority is in making the first Ford autonomous vehicle accessible to the masses and truly enhancing customers’ lives.” (more…)