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07-25-2008, 07:02 AM
Ford posts $8.7 billion loss; Euro Focus, unibody Explorer planned for 2010
July 24, 2008
Source: Leftlanenews
Ford on Thursday reported its second quarter financial details, saying it posted an $8.7 billion loss as high gas prices and a difficult economy drove buyers away from its highly profitable trucks and SUVs, in the process toppling the best-selling vehicle in North America, the Ford F-150.
In contrast, the company earned $750 million in the second quarter of 2007. Following this weekââ¬â¢s Q&A session with the companyââ¬â¢s Executive VP Mark Fields, the automaker announced steps to attempt to turnaround from the loss.
Part of that plan includes bringing six small European vehicles for sale in North America, as well as converting truck and SUV plants as soon as December.
The automaker also promises to double its four-cylinder engine production capacity in North America by 2011, while doubling hybrid vehicle models and their numbers by 2009 in light of the higher cost of gas.
The fuel-efficient light-duty Ranger pick-up also got a stay of execution, at least until 2011.
Serious doubts about the future of the Mercury brand were also officially put to rest, as Ford promises to revitalize the near-luxury nameplateââ¬â¢s lineup before 2011. A new small car for the brand will come in 2010, Ford promised.
Specific models announced during the report include the European Transit Connect cargo van coming to North America in mid 2009, along with the seven-passenger Lincoln MKT crossover next year, and sedan and hatchback versions of the Ford Fiesta early in 2010. North America will finally get a new, European Focus in 2010, in both sedan and five-door hatch form.
As previously rumored, the Explorer SUV will switch to a unibody design in 2010 as opposed to the current body-on-frame, which should save weight and increase fuel economy by as much as 25 percent.
The automakerââ¬â¢s Michigan Truck Plant will be converted to build C-car (Focus) platform small cars, with a Louisville, Kentucky plant stopping Explorer production in favor of more C-platform cars by 2011. The truck plant in Cuautitlan, Mexico will build the Fiesta small car in 2010.
Finally, Ford will continue to buy out workers at U.S. plants and other facilities in its attempts to reduce North American salaried jobs by 15 percent by August.
July 24, 2008
Source: Leftlanenews
Ford on Thursday reported its second quarter financial details, saying it posted an $8.7 billion loss as high gas prices and a difficult economy drove buyers away from its highly profitable trucks and SUVs, in the process toppling the best-selling vehicle in North America, the Ford F-150.
In contrast, the company earned $750 million in the second quarter of 2007. Following this weekââ¬â¢s Q&A session with the companyââ¬â¢s Executive VP Mark Fields, the automaker announced steps to attempt to turnaround from the loss.
Part of that plan includes bringing six small European vehicles for sale in North America, as well as converting truck and SUV plants as soon as December.
The automaker also promises to double its four-cylinder engine production capacity in North America by 2011, while doubling hybrid vehicle models and their numbers by 2009 in light of the higher cost of gas.
The fuel-efficient light-duty Ranger pick-up also got a stay of execution, at least until 2011.
Serious doubts about the future of the Mercury brand were also officially put to rest, as Ford promises to revitalize the near-luxury nameplateââ¬â¢s lineup before 2011. A new small car for the brand will come in 2010, Ford promised.
Specific models announced during the report include the European Transit Connect cargo van coming to North America in mid 2009, along with the seven-passenger Lincoln MKT crossover next year, and sedan and hatchback versions of the Ford Fiesta early in 2010. North America will finally get a new, European Focus in 2010, in both sedan and five-door hatch form.
As previously rumored, the Explorer SUV will switch to a unibody design in 2010 as opposed to the current body-on-frame, which should save weight and increase fuel economy by as much as 25 percent.
The automakerââ¬â¢s Michigan Truck Plant will be converted to build C-car (Focus) platform small cars, with a Louisville, Kentucky plant stopping Explorer production in favor of more C-platform cars by 2011. The truck plant in Cuautitlan, Mexico will build the Fiesta small car in 2010.
Finally, Ford will continue to buy out workers at U.S. plants and other facilities in its attempts to reduce North American salaried jobs by 15 percent by August.
I was the only member on this board with a Yellow Focus Sedan, and a 2002+ Euro Facelift on a sedan.