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Tag Archives: Jim Farley
Ford Motor 2023 Q3 Net income $1.2 Billion
“I’m very optimistic about the reality we’re creating with Ford+,” said President and CEO Jim Farley. “We’re building a more dynamic, highly talented and customer-focused company at the intersection of great vehicles, iconic brands, innovative software and high-value services.
“We’re also radically changing how we work with a series of actions that put the right people with the right capabilities in the right places across the organization, so that our promise isn’t masked by cost and quality issues,” Farley claimed. Continue reading
Ford Reaches UAW Contract Agreement If Members Vote Yes
“We are pleased to have reached a tentative agreement on a new labor contract with the UAW covering our U.S. operations,” said Ford CEO and President Jim Farley at 8:43 pm tonight in a Dearborn issued statement.
The agreement, of course is subject is dependent on ratification by Ford’s UAW-represented employees. Continue reading
Posted in economy, labor issues, manufacturing, milestones, mobility company, people, shows and events
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, big three 2023 uaw contract negotiations, Jim Farley, Ken Zino, Shawn fain, stand up strike, uaw, UAW Vice President Chuck Browning, Walter Reuther
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UAW to Start Selective Big Three Strikes at Midnight
UAW President Shawn Fain last night with an audience of ~30,000 on YouTube spoke for more than 50 minutes. His message was simple. “Let’s Stand up and let’s make history,” Fain said. The history he is talking about starts at midnight tonight when the UAW for the first time ever is striking all of the so-called Big Three companies – Ford, General Motors and Stellantis. With defiant language Fain laid out the latest twist in the UAW strategy to “stop the Big Three from killing jobs.” Rather than the traditional single target company, there will be selective and ongoing strikes at all of the companies. Continue reading
Ford UAW Offer – Pay Increases, Tiers Gone. UAW says No
Not a propitious way to start the Labor Day weekend… Continue reading
Mustang GTD – Street Legal 800 Hp Starting at $300,000
“Mustang GTD shatters every preconceived notion of a supercar,” said Jim Farley, Ford president and CEO. “This is a new approach for us. We didn’t engineer a road car for the track, we created a race car for the road. Mustang GTD takes racing technology from our Mustang GT3 race car, wraps it in a carbon fiber Mustang body and unleashes it for the street.” Continue reading
Posted in marketing, performance, racing
Tagged auto industry commentary, autoinformed.com, fia, IMSA GTD Pro, Jim Farley, Ken Zino, Larry Holt, Mark Rushbrook, Multimatic, Mustang GTD, wec
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Apple Software Veteran Peter Stern Joins Ford Motor
Ford and other former members of the old-style auto blacksmithing business – cast it, stamp it, weld it, machine it and put it together – has been confronted with the need to cost effectively deal with so-called connected vehicles. The traditional way of pitting suppliers against one another and buying at lowest cost has failed since the software of the many individual computer modules on current vehicles isn’t always compatible with other computerized systems – creating in effect an electronic Tower of Babble. Continue reading
Ford Motor Posts $3.8B Q2 Earnings on 12% Revenue Increase
“The shift to powerful digital experiences and breakthrough EVs is underway and going to be volatile, so being able to guide customers through and adapt to the pace of adoption are big advantages for us,” said Ford CEO Jim Farley. “Ford+ is making us more resilient, efficient and profitable, which you can see in Ford Pro’s breakout second-quarter revenue improvement (22%) and EBIT margin (15%),” Fairly said selectively. Ford’s electric business – Model e – is forecast to lose ~$4.5 billion during 2023. It lost $1.2 billion during Q2 or $40,000 a vehicle. Continue reading
Ford To Run Mustangs in GT3 and GTD Next Year
The Ford Mustang GT3 race car, based on the new 2024 Mustang Dark Horse, was unveiled today during the centenary celebration on the eve of the 24 Hours of Le Mans. With the reveal, Ford is trying to enter Mustang into the global FIA GT3 racing category, subject to FIA approval. Ford’s last victory at the 24 Hours of Le Mans was in 2016 with the Ford GT. Ford showed a new global Ford Performance branding that will now be used on all its racing vehicles. Continue reading
Posted in news analysis
Tagged auto industry commentary, autoinformed.com, endurance racing, fia, Jim Farley, Ken Zino, le mans, Mustang GT3
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Ford CEO says China is the Main Competitor, Not GM
“If you localize Chinese technology in the US – the customer is going to get screwed,” Farley said. The candid, tough talk comes at a time when Ford is investing more than $50 billion (2022 through 2026) in electric vehicles and battery components. Ford is on track to reach an annual targeted production run rate of 600,000 electric vehicles globally by the end of 2023, and 2 million by the end of 2026. Electric vehicles are expected to account for half of the company’s sales by 2030. Continue reading
Ford Motor Q1 Sales, Profits, Cash Flow Up. But…
Late yesterday Ford Motor posted Q1 2023 revenue of $41.5 billion, up 20% from the same period a year ago on shipments ~1.1 million vehicles, a 9% increase with $1.5B in net income. A year ago Ford posted a net … Continue reading
Posted in economy, electric vehicles, financial results
Tagged auto industry commentary, autoinformed.com, Ford, ford credit, Jim Farley, Ken Zino
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Ford F-150 Lighting Debuts in Norway in 2024
Ford Motor, along with all other global makers, is pursuing complex strategies and elaborate routes while transitioning to electric vehicles. EV demand is accelerating – reinforced and spurred by regulations – in the face of the dire effects of global warming – some, if not most, caused by the ongoing use of fossil fuels and what was in effect denial of the negative consequences of the exclusive use of fossil fuels in transportation. Ford’s challenge is to profitably maintain during this transition both a line of EVs from Ford Model e and the so-called Ford Blue internal combustion vehicles that at some point – perhaps near at hand – are doomed, but remain the foundation of the business. Continue reading
Ford Oakville Assembly in Canada to Convert to EVs
Ford Motor (NYSE: F) said today it is investing C$1.8 billion in its Oakville Assembly Complex to make it into a high-volume hub of electric vehicle manufacturing in Canada. The property, to be renamed Oakville Electric Vehicle Complex, will begin to retool and modernize during Q2of 2024 to prepare for production of next-generation EVs. Continue reading
Ford CEO Jim Farley on UAW Contract Ratification
Ford Motor Company (NYSE: F) President and CEO Jim Farley said this morning, “We are pleased the agreement has been ratified and we are very happy for our more than 57,000 UAW-represented employees and their families.” (AutoInformed: Bill Ford Asks … Continue reading →