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Ford News

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  • steverstever Viva Las CrucesPosts: 41,296
    News to me....

    "But in the past four years, Ford has doubled the number of Quick Lane centers nationwide -- to 500 -- as the automaker and its dealers try to capture more of the profitable parts-and-service business. Suttles noted that consumers have generally disliked getting their car serviced at dealerships, where they have often had to make appointments and face long waits, among other aggravations."

    Ford moves steadily into Quick Lanes

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    Minivan fan. Feel free to message or email me - stever@edmunds.com.

  • A fugly car, designed for Americans that have Big-Gulp size cup-holders and useless decorative bling as criteria on their shopping list.
  • larsblarsb Posts: 8,204
    I don't think they hit the mark:

    Ford posts largest quarterly loss in the histowy of it's wurld

    Ford Suffers Record Loss
    As Oil Shock Hits Industry
    By MATTHEW DOLAN and JEFF BENNETT
    July 25, 2008; Page A1

    DETROIT -- In a fresh sign of the turmoil wrought upon the auto industry by high fuel prices and cratering demand for trucks, Ford Motor Co. reported an $8.7 billion loss for the second quarter and outlined a plan to reorient its North American operations to ramp up production of small cars.

    Ford's loss was its largest quarterly setback ever.
  • jeyhoejeyhoe Posts: 490
    The 'histowy of the wurld'? Go back to dwiving youw hybwid and weave us awone.
  • nippononlynippononly SF Bay AreaPosts: 12,693
    Volvo lost more money in this quarter than it did in the same quarter last year. But the bottom line is it lost money consistently. Time to DUMP IT NOW.

    They say they have cash reserves of $28 billion and access to credit of another $10 billion, which means at their current burn rate of just shy of $1 billion PER MONTH, they still could go three more years without seeing profits and without going out of business or declaring bankruptcy. That might be enough time, but I dunno:

    - they plan to rejuvenate the Mercury line, talk about throwing your money STRAIGHT down the toilet

    - they plan to "ramp up hybrid production" in 2009, yes, but what's their big new model debut for '09? Mmm hmm, the Lincoln 7-passenger. See above regarding throwing money down the toilet.

    - they sure are gung ho about bringing those European Fiestas here....but not any time soon, as they are still two years away, if then.

    - the European Focus they should have brought here years and years ago finally arrives next year. But if they didn't bring it before because they would have to sell it at a loss, what has changed that it will now be profitable?

    - they are still gung ho about continuing the Explorer as a unibody crossover, which means I guess Taurus X goes away? But talk about a flooded market segment, 5- and 7-passenger crossovers....

    - oh yeah, and they have extended the run of the Ranger to 2011, which is actually kinda interesting in a twisted way. A truck designed in the 90s will still be sold brand new in the 2010s. It's kinda like a museum piece you can buy in running condition brand new, and actually drive around....VW did this in third world countries for an extra 20 years with its original VW Beetle. In Mexico City they used them as taxicabs.

    I think Ford will still be hurting in two years, and probably still in three years when all this cash they have sitting around has been exhausted. Their stock is down to $5 now, maybe people will think it is a bargain. Me, I would stay away.

    2013 Civic SI, 2009 Outback Sport 5-spd (stick)

  • bumpybumpy Posts: 4,435
    the European Focus they should have brought here years and years ago finally arrives next year. But if they didn't bring it before because they would have to sell it at a loss, what has changed that it will now be profitable?

    Supposedly, the reskinned old Focus we got was supposed to be cheaper to design than refitting the factories for the Euro Focus (but that turned out to be wrong). Also, people are actually now willing to pay money for smaller cars with interior features from bigger cars, so Ford doesn't have to blow out Foci for $12k anymore (or so they hope).
  • nortsr1nortsr1 Posts: 1,060
    I believe I read in the latest issue of Motor Trend that the Europenn Focus (if brought over here as is....would have to be priced at $28,000.00(that's U.S.Dollars) and there is no way the U.S. Buyer would pay $28,000.00 for a Ford Focus. It went on to state that in order to get the price low enough for U.S. sales it will lower the interior standards and probably do a lot of other decontnting to get a feasable price.
    Seems to me they will have to do a lot of the aforementioned to get a decent sellable low price against some stiff competition.
    Yes, they would probably pay more money as you stated...but....how much more!! :confuse:
  • bumpybumpy Posts: 4,435
    Those sorts of articles always start with the price in Euros or pounds, then do a straight currency conversion, which is wholly unrealistic. If Ford were to ship them over here, they'd probably be realistically in the $18-24k range. However, what Ford is actually doing is importing the designs and building them in North America (hopefully without any of that decontenting nonsense, which is what ruined previous attempts to bring Euro cars here) which should put the price range in Civic territory.
  • Volvo lost more money in this quarter than it did in the same quarter last year. But the bottom line is it lost money consistently. Time to DUMP IT NOW.

    Can you cite a source for this?
  • nortsr1nortsr1 Posts: 1,060
    They specified it would be that amount in U.S.Dollars.
  • nippononlynippononly SF Bay AreaPosts: 12,693
    The Volvo unit lost $120 million compared with a loss of $91 million a year ago

    From Automotive News:

    http://www.autonews.com/apps/pbcs.dll/article?AID=/20080724/ANA02/529215502/1200-

    2013 Civic SI, 2009 Outback Sport 5-spd (stick)

  • Thanks for the link to what is, for me, a new news source.
  • jeyhoejeyhoe Posts: 490
    They just laid off the chief designer of the Flex. Source - BON.

    Being a designer (Or engineer) in 'bad' times is very dangerous. I recall when I worked for a government contractor. Big, well known company at the time which was soon after swallowed up by Lockhhed. Any case, there were a couple dozen engineers working on pieces of a project. The ones who were slow and behind schedule had job security. THose who finished their portion were laid off as soon as it tested out clean. Is this any way to run an airline? Or a car company?
  • steverstever Viva Las CrucesPosts: 41,296
    It's going to be tough for any automaker to have a profitable 2009 (the original '08 title was going more or less ok until the credit crisis).

    "Mulally also has agreed to cut his annual salary to $1 to win congressional support of the federal aid plan for Detroit. In a statement, Ford said Mulally's $1 salary is "a sign of his confidence in the company's transformation plan and future."

    Ford also said it is canceling all bonuses to be paid in 2009 for all management employees worldwide and forgoing bonuses for all employees in North America. It is also reducing its U.S. dealers. "By year end, Ford estimates it will have 3,790 U.S. dealers, a reduction of 606 dealers overall — or 14 percent from year-end 2005," it said."

    Ford Speeds Up Plans for Electric Vehicles in New Pitch to Congress (Inside Line)

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  • nippononlynippononly SF Bay AreaPosts: 12,693
    The article says Ford itself doesn't expect to be profitable in 2010. They say 2011, and even then "profitable or at least break-even".

    They are being duplicitous, saying they don't need a bailout, "but may need access to credit in 2009". Of course they will! They just said in the paragraph before they won't make a profit for the next three years! They are trying to make it sound like they are playing along but don't really need a bailout, when the reality is they very much DO need a bailout, they just won't need the first payment for six months (unlike GM, which needs a BIG taxpayer gift under its Christmas tree).

    2013 Civic SI, 2009 Outback Sport 5-spd (stick)

  • cowbellcowbell Posts: 125
    Even with out a profit they will not need it because they have enough cash and credit to keep the lights on until at least 2010.
  • grbeckgrbeck Posts: 2,361
    But part of the reason Ford is burning through cash is that it has not suspended new vehicle development. In some cases, it has accelerated new vehicle programs. GM has dramatically scaled back its new vehicle programs, and Cerberus basically gutted Chrysler's efforts.

    So, yes, Ford is burning through cash, but, unlike GM and Chrysler, it's not burning through cash just keep the lights on. It is using that money for new vehicles - not a bad move, as the economy will eventually improve, and then people will want new cars and trucks.
  • berriberri Posts: 4,234
    I think they are concerned about the Ford family preferential status becoming an issue, so will only take govt $ if it becomes critical as in bankruptcy. However, Mulally seems to have been much better strategically than the other two CEO's and that's why Ford is in a bit better shape right now, but very highly leveraged which will become dangerouis if things continue to degrade.
  • As much as the Fear mongerers would have you believe that all three Detroit Automakers are poised to fail, thus turning this country into a Third World shell of its former self overnight, Ford appears to be able to weather the storm through 2009. So what to do in the meantime?

    I think if anything, Ford is being seen in a much brighter light because of all this bailout news and it would be a great opportunity for the company to arise out of the ashes as a leader rather than a follower. I keep reading alot of folks out there who really believe that under the leadership of Mullally, Ford has really turned a corner and is the most likely to survive this. There have been plenty of these folks who would even put Fords on their shopping list for their next car purchase, something they wouldn't have considered in the past. And to back this up, it looks like Ford quality has matched and even surpassed the Hondas and Toyotas of the world, they are certainly putting the money where their mouths are.

    I seriously hope they keep up the efforts to right the ship, continuing to improve their quality, reliability while staying ahead of the curve in design, feature content and safety. This is a big opportunity to get over the hurdles of past mistakes and winning customers back from the imports and they don't come around to often... Nor would I expect many more opportunities like this in the future.

    So to Ford I say keep up the great work and stick to your guns. Don't get complacent, and don't expect a light at the end of this big, long tunnel. Treat it like there isn't one. ;)
  • fezofezo Posts: 9,387
    Yes, my bet is on Ford. I was reading a first drive of the Fusion hybrid. Assuming a tax credit on release and not horrible ADM that would be on my shopping list. Better performance numbers than a Camry hybrid and better mpg. Nice.

    That I am looking at Ford as a possible new car purchase is amazing in that my other experience with them was horrid. I'm seeing too much of a turnaround to ignore it. I'll give them a chance when the time comes.

    I give Bill Ford credit for firing himself and bringing in Mulally.
  • steverstever Viva Las CrucesPosts: 41,296
    "Ford's three brands--Ford, Lincoln, and Mercury--continue to pull away from the rest of the Detroit automakers. Almost all Ford models are now average or better, with the exception of some that are truck-based. Excluding those, Ford's reliability is now on par with good Japanese automakers."

    Consumer Reports, Dec. '08, p.63 (no link unless you have free access through your public library like I do :shades: ). This is a subscriber rating, not the CR vehicle testing rating.

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  • cowbellcowbell Posts: 125
    Recently Bill Ford Jr. said that Ford is actually having a better month than expected. I imagine they're going to increase market share again.

    I wonder how much is at the expense of GM and Chrysler.

    I know in November the market share of the big three was up by a percentage point, and most of that was because of Ford.
  • nippononlynippononly SF Bay AreaPosts: 12,693
    Apparently it has two contenders for NA Car Of The Year and NATOTY. Flex is in the running for car of the year - wait, what? This 2-1/2 ton beast is a "car"? It is larger than last year's truck of the year - the CX9. LOL, OK whatever! The F-150 is the contender for TOTY. The Ram is also in the running.

    http://www.autonews.com/article/20081218/ANA04/812189967/1115
    (free registration link)

    I see that GM and Chrysler are going to get their money from Dubya. I just hope that Ford is not going to regret the decision to pass up the money. I'm sure they WON'T regret not having all the strings that are attached to this bailout.

    2013 Civic SI, 2009 Outback Sport 5-spd (stick)

  • bpizzutibpizzuti Posts: 2,743
    Well, the whole point of the strings are to make it less appealing to take the money, as in they're only going to take it if they really need it. Somehow though, I think Dubya's going to have fewer strings attached than the Congressional funds would have.
  • mtnman1mtnman1 Westerville, OhioPosts: 383
    I hope Ford never takes any money. All the Liberals in Washington and the Enviro-Wacko supporters are salivating right now. Once Obama and the Dems get into power there will be more money given with so many more strings attached. They want to be able to tell the big 3 what kind of vehicles they can build and how to run their companies. The Federal Deficit will skyrocket under the Dems control and our Grandchildren will pay the price with runaway inflation and crushing tax rates someday. If it were up to them, we would be driving around in tiny little subcompact cars. All the fun of driving would be gone. A family would have to drive two cars to go anywhere because of lack of space. :cry:
  • cowbellcowbell Posts: 125
    I guess the choices are strings from Democrats, or no company at all from Republicans. At least with Democrats there will still be a company around that has a chance of producing Cameros and Challengers.

    I hope you were joking about the "The Federal Deficit will skyrocket under the Dems control". I can only assume you were, as a reference to the virtual doubling of the national debt under Bush over the last eight years alone, and how it would be difficult to say it could be any worse under a democrat.
  • steverstever Viva Las CrucesPosts: 41,296
    Let's try to focus (ha!) on FoMoCo and not waste a lot of ink on political parties. Thanks.

    Now, y'all do raise an interesting question. Will Ford gain some fans as a result of not needing an immediate bailout? Will people be peeling their Calvin stickers off their Rams and Silverados and getting new ones for their F-150s?

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  • bpizzutibpizzuti Posts: 2,743
    Let's try to focus (ha!) on FoMoCo and not waste a lot of ink on political parties. Thanks.

    Oh come on, they waste our ink (green) as well as paper, right? :shades:

    I find myself wondering about Ford gaining while GM and Chrysler screw up...mostly because 1: the only ones left buying either ted to be hard core loyalists anyway, more likely to buy a used Studebaker than any other brand of new vehicle. And 2: I'm not sure Ford actually has the production capacity to take on GM and Chrysler's customer base anyway. They spent a lot of money (and time) CUTTING production.
  • cowbellcowbell Posts: 125
    From the news reports out there, Ford is already having a hard time keeping up witht heir current F150 demand.

    There are reports of dealers have to scramble to get vehicles shipped in from other states to meet demand, and this January when every other Ford facility is shut down, there will still be two plants making F150s.

    I think you're right. Even if they wanted to, Ford wouldn't be able to meet demand for a bunch of new buyers from GM & Chrysler.... I guess that's a good position to be in though.
  • steverstever Viva Las CrucesPosts: 41,296
    "In declining any of the $17.4 billion the government is giving Detroit, Ford Motor Co. instantly earned the admiration and appreciation of a frustrated and cash-strapped U.S. consumer base that, once this recession ends, eventually will make its way back into auto showrooms."

    Ford Picks Up PR Points for Declining Auto Bailout (Ad Age)

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