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Entries in Ford Motor Company (17)

Friday
Apr012011

Ford Outsells General Motors in March

Bruno Vincent/Getty Images(DETROIT) -- Ford Motor Co. sold more cars and trucks than rival General Motors Co. last month.

Ford reported Friday that the company sold 212,777 units in March, compared to GM’s 206,621 units.

“That's up 19 percent versus a year ago,” said Ford sales analyst George Pippas, who noted that the company’s popular Explorer SUV is helping to drive sales.

“Over 14,000 customers have placed a retail order rather than purchase another vehicle,” Pippas said.

But GM analyst Don Johnson says that his company has seen a strong start to 2011.

“What March really did for us was cap off a very successful first quarter, where our total sales were up 26 percent and our retail sales, which really drove our strong quarterly performance, were up 38 percent,” Johnson said.

Ford is the only of Detroit’s big three automakers that did not take federal bailout money.

Copyright 2011 ABC News Radio

Friday
Jan282011

Ford Announces Best Profit in Over 10 Years

Photo Courtesy - Getty Images(DEARBORN, Mich.) -- Ford Motor Company announced Friday that 2010 was the company’s highest-earning year in more than 10 years.

The company reported a $6.6 billion net income for the year, nearly $3 billion more than it earned in 2009.

Ford was also the top-selling brand in the U.S. in 2010, as an improving economy helped send sales up by 20 percent.

“We are the most preferred brand,” Ford CEO Alan Mulally told ABC News affiliate WJR. “We're the one that's being considered the most of any brand.”

The jump in sales was due in large part to increased demand for Ford's F-Series pickup trucks.

The company’s fourth quarter earnings were down year-over-year in 2010. The company pulled in a net $190 million, a decrease of $696 million from the fourth quarter of 2009.

Copyright 2011 ABC News Radio

Friday
Jan072011

Ford Debuts Electric Focus to Compete Against Chevy Volt, Other Plug-In Cars

Photo Courtesy - ABC News(DEARBORN, Mich.) -- Ford Motor Company made its modern electric debut Friday, unveiling an electric Ford Focus.

Ford introduced the new Focus not at an auto show, but at the Consumer Electronics Show in Las Vegas, a symbolic break in tradition for a car company eager to supercharge a field crowded with plug-in competition.

For Ford, it's a back-to-the-future story. Henry Ford's wife drove an electric car back in 1914, and now their great-grandson Bill Ford will drive an electric vehicle they couldn't have imagined.

Bill Ford, the executive chairman of the Ford Motor Company, told ABC News in an exclusive interview that electric cars are now critical for the auto giant.

"To me, these are very much about signaling where this company is headed and, frankly, where this country ought to be headed," Ford said.

ABC News was given a chance to test-drive the new model at Ford's Dearborn, Mich. headquarters. Nearly identical to Ford's gasoline Focus hatchback, the new electric car accelerates quickly and quietly, going from zero to sixty in less than 10 seconds.

Unlike GM's Chevy Volt, Ford's electric car has no gasoline engine for backup. It can drive from 80 to 100 miles on a full charge. The car even communicates with smart phones, so a driver can call his car remotely and order it to charge immediately, or wait for utility rates to drop at nighttime.

Ford joins GM, Nissan and Toyota in mass-producing plug-in cars.

In San Diego, Tom Hamilton just bought a Nissan Leaf, with big help from the government. He was granted a $7,500 federal tax break, and another $5,000 break from California for buying electric.

"I paid $35,000-ish, and I got $12,500 back," Hamilton said.

Electrics and hybrids are still a tiny sliver of the car market, making up just 2.39 percent of the market in 2010, according to J.D. Power & Associates. But electrics could account for over 8 percent by 2015 and 10 percent by 2020, the firm says.

Copyright 2011 ABC News Radio

Tuesday
Oct262010

Ford Posts $1.7 Billion Earnings in Third Quarter

Photo Courtesy - Getty Images(DEARBORN, Mich.) -- Ford Motor Company reported a net income of $1.7 billion on Tuesday for its third quarter, marking the company's sixth consecutive quarterly profit.  The earnings represent a $690 million improvement from last year's third quarter figures.

The automaker's third quarter revenue declined by $1.3 billion from the same time last year to $29 billion.

Alan Mulally, Ford's president and CEO, says, “This was another strong quarter and we continue to gain momentum with our One Ford plan.  Delivering world class products and aggressively restructuring our business has enabled us to profitably grow even at low industry volumes in key regions."

Tuesday
Oct262010

'Big Three' to Announce Plans to Invest in Michigan 

Photo Courtesy - Getty Images(DETROIT) -- General Motors Company and Chrysler Group LLC are expected to announce Tuesday how they will spend $2 billion on their Michigan operations, according to The Detroit News.  Their announcement joins Ford Motor Company, who outlined their plans on Monday.

The big three's financial help comes from tax investments from the Michigan Economic Development Corporation.  The agency will officially announce the investments on Tuesday.

Chrysler is set to unveil its intentions to invest $1 billion towards equipment and tooling needed to manufacture midsize automobiles at the Sterling Heights Assembly Plant and for the increased production of four-cylinder engines.  The company hasn't announced any new jobs yet.

General Motors is expected to announce its plans to invest $152 million in Michigan, including $112 million to the Warren Technical Center to help fund hybrid and electric vehicle programs and add up to 900 jobs.  The automaker also plans to invest $40 million at its Brownstown Township Plant, adding another 150 jobs.

Copyright 2010 ABC News Radio

Monday
Oct252010

Ford to Invest $850 Million in Michigan Before Announcing Profitable 3rd Quarter

Photo Courtesy - Getty Images(DETROIT) -- Ford Motor Company Monday announced its plans to invest $850 million in Michigan between 2011 and 2013.  Ford Motor said the sizable investment is intended to create up to 1,200 new full-time jobs by 2013, and to make improvements to its vehicle fuel economy.

"We are pleased to work with state and local government leaders to find new ways to work together, invest in our people as well as Ford facilities, further improve our competitiveness and secure jobs in Michigan," said Mark Fields, Ford's president of the Americas.

This announcement comes just after Ford's recent $950 million investment to repurpose the Michigan Assembly Plant from a large SUV factory to a "state-of-the-art car plant."

Ford will also release its third-quarter financial earnings Tuesday, and the results are expected to be impressive.  In spite of the slowest auto market since 1982, Ford is expected a $1.37 billion profit for the three months ending in September.

Under the leadership of Alan Mulally, Ford has sold off unprofitable brands like Volvo, cut loose slow selling name plates such as Mercury and concentrated its attention on its core brands -- Ford and Lincoln.

Foot traffic in dealerships is up and the company, founded 107 years ago by Henry Ford, is on target for a profitable 2010.

Copyright 2010 ABC News Radio

Tuesday
Oct052010

Ford and N.Y. Power Authority Prepare New York for Electric Vehicles

Photo Courtesy -- New York Power Authority(NEW YORK) -- Ford Motor Company has announced that it will team up with the New York Power Authority (NYPA) to prepare New York state for the operation of electric vehicles.  The collaboration was announced during Ford's "Charging Into the Future Electric Vehicle Tour," which visited New York City Monday.

The plan is that Ford and NYPA will develop consumer outreach and education programs on electric vehicles to ensure the electrical grid can support customers' needs.

“Ford plans on bringing five new electrified vehicles to market over the next two years including the Transit Connect Electric later this year and the Focus battery electric in late 2011,” said Sherif Marakby, Director of Electrification Programs and Engineering, Ford Motor Company.

Marakby added, “We know there is an incredible excitement for electric vehicles in the New York area and across the country.  To support the rollout and acceptance of these vehicles, it is crucial to work with utilities, like NYPA, to make sure the necessary infrastructure is ready.”

NYPA President and Chief Executive Officer, Richard M. Kessel said that the Power Authority is a leader in efforts to introduce electric and hybrid vehicles in the New York Metropolitan Area and other parts of New York state.  Kessel adds, "Ford's new electrified will certainly contribute to the efforts."

Over the next two years, Ford will introduce the Transit Connect Electric small commercial van, the Ford Focus Electric passenger car, two third generation lithium-ion battery hybrids (2012) and a plug-in hybrid (2012).

Copyright 2010 ABC News Radio


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