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Entries in Ford (29)

Thursday
May262011

Six More Small Cars Receive Top Safety Award

Fstop/Photodisc/Getty Images(ARLINGTON, Va.) -- The number of small cars that have been named Top Safety Picks by the Insurance Institute for Highway Safety grew to 22 Thursday, when the organization announced the latest vehicles to earn the prize.

After evaluating 13 small cars, the IIHS awarded the top crash-test rating to six models: the 2012 Ford Focus and Honda Civic, the 2011 Hyundai Elantra, Lexus CT 200h, Nissan Juke, and Toyota Prius.

Dodge Caliber, Honda CR-Z and Insight, Nissan's Sentra and Versa, Scion xD, and Suzuki SX4 were also tested but they were not named Top Safety Picks.

To earn the top honor, cars must receive a rating of "good" in front, side, rollover, and rear impact crash tests, and have available electronic stability control.

Copyright 2011 ABC News Radio

Monday
May092011

US Regulators Investigating Ford Pickup Trucks for Recall

KAREN BLEIER/AFP/Getty Images(DETROIT) -- More than two million Ford pickup trucks could be recalled due to a fuel tank problem.

The National Highway Traffic Safety Administration announced Monday that steel belts around the fuel tank in the F-150 models from 1997 to 2001 can fracture from rusting. The group started conducting an investigation after complaints came in of the tanks dragging on the road and leaking fuel.

So far there have been two cases of F-150s exploding. There were no reported injuries in either incident.

There are an estimated 2.7 million Ford F-150 pickup trucks that could be affected by the recall.

Copyright 2011 ABC News Radio

Tuesday
May032011

Ford, GM Report April Profits

Comstock/Thinkstock(DETROIT) -- The comeback of American car sales appears to be accelerating, as both General Motors and Ford reported sales gains on Tuesday. GM car and truck sales jumped 27 percent last month, while Ford says sales last month rose more than 16 percent compared to the year before.

With gas well above $4 in some areas, many car buyers are opting for smaller fuel-efficient models.

GM says it sold more than 25,000 Chevy Cruze compacts in April, its best month so far.

Detroit’s gains come as Japanese carmakers struggle with parts shortages since the March earthquake damaged factories.

Copyright 2011 ABC News Radio

Saturday
Apr022011

Top Ford Execs Receive Increased Paychecks for 2010

Sean Gallup/Getty Images(DETROIT) -- Ford's two top executives each received $26.5 million pay packages in 2010, according to the Securities and Exchange Commission. Now some say that the increased compensation could serve as an obstacle for management when it begins union negotiations. The current union contract with Ford expires September 14.

President and CEO Alan Mulally's pay in 2010 rose 48 percent from 2009 to $26.5 million. That's in addition to the $54.5 million in stock awards he received for achieving company targets in both 2009 and 2010. In total, Mulally received about $83 million from Ford in 2010.

Meanwhile, Executive Chairman Bill Ford has declined compensation from 2005 until 2010, when the car manufacturer achieved a full year profitably. For 2010, however, Ford received compensation of $26.46 million in addition to a stock award last month valued at $42.4 million, which brought his total compensation to nearly $69 million.

Last year the company reported $6.6 billion in net income and in March of this year Ford’s monthly U.S. sales surpassed General Motors for only the second time in thirteen years.

Copyright 2011 ABC News Radio

Monday
Feb142011

General Motors Announces Bonuses For Hourly Workers

Photo Courtesy - Getty Images(DETROIT) – In documents unveiled Monday, it was revealed that General Motors plans to give bonuses of at least $4,000 to each of its 45,000 hourly workers in the United States.

The car giant, which employs over 200,000 people across the globe, is on track to make its first annual profit since 2004. General Motors was a recipient of several billion dollars in federal relief money, which was paid back in full by April, but it has already announced over $4 billion in profit through the third quarter of last year.

This move by GM comes after an announcement by Ford, which said it will be giving bonuses of $5,000 to its United Auto Workers employees.

Both GM and Ford announced white-collar workers within their companies would be getting bonuses as well.

Copyright 2011 ABC News Radio

Monday
Feb072011

Ford to Boost U.S. Production, Cut Luxury Dealers

Photo Courtesy - Getty Images(SAN FRANCISCO) -- Ford Motor Co. has announced it will expand U.S. production by 13 percent this quarter amid increasing demand from car dealers.

The carmaker made the announcement Sunday before a group of more than 500 Ford dealers at the National Automobile Dealers Association convention.

The expansion, which comes on the heels of Ford's largest increase in January retail sales in a decade, could also lead to additional shifts at several plants to keep up with the boost.

At a promising time for some Ford dealers, however, others could see their doors closed as the company looks to cut back on its luxury brands by closing an additional 100 Lincoln dealers.

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

Monday
Jan102011

Volt Named Car of the Year

Chevrolet[dot]com(DETROIT) -- Automotive journalists selected the Chevrolet Volt as the North American car of the year for 2011 on Monday. 

It will be next year before the Volt goes on sale nationwide. "We are very bullish on the Volt so we are continuously monitoring and watching and when the time presents itself when the country is ready for more we are absolutely prepared and interested in giving them more Volts", says Chevrolet's Pamela Fletcher, who expects to sell about 45,000 of them. 

The cars run on electricity for 40 miles before a backup gas engine takes over. The Volt costs about $41,000 before a $7,500 tax credit drops the price. 

Nissan is ramping up production of the Leaf and Ford just introduced the electric Focus. "It's important that we get these vehicles out there, get them launched and then get the customers and country frankly to realize these are important vehicles and this is the way we ought to go in the country", says Ford Chairman Bill Ford. With gas prices rising he expects demand for electric cars to grow, though it'll be next year before most Americans have the opportunity to drive them. 

Copyright 2011 ABC News Radio

Monday
Jan102011

Ford to Add 7,000 U.S. Workers in Next Two Years

Photo Courtesy - Getty Images(DETROIT) -- Ford Motor Company announced Monday it will add 7,000 new hourly and salaried jobs between this year and next in the United States. 
 
This year alone, Ford is adding nearly 4,000 hourly jobs at several of its U.S. plants, including 1,800 at Louisville Assembly Plant, which is preparing to launch the next-generation Ford Escape late in the year. Ford also will add 750 salaried engineering jobs in product development and manufacturing. Next year, Ford expects to add at least 2,500 more new manufacturing positions.
 
“Ford is committed to American manufacturing, and we are on a path to add more than 7,000 American workers over the next two years as we continue to grow our product lineup,” said Mark Fields, Ford president of The Americas. “Working with our partners, including the UAW, Ford is finding competitive ways to engineer and build even more high-quality, fuel-efficient vehicles with technologies American consumers really want.”
 
Ford is recruiting salaried engineers specializing in batteries, system controls, software and energy storage to work on electric vehicles in Detroit and eight other cities including Boston; Chicago; Cincinnati; Columbus, Ohio; Milwaukee; Raleigh and Durham, N.C.; and San Jose, Calif. This recruitment launches at the 2011 North American International Auto Show during industry preview days on Jan. 12 and Jan. 13.

Copyright 2011 ABC News Radio

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