Page 2 - Ford

Strike cuts Ford sales by 100,000 vehicles, cost $1.7 billion in profits

A six-week United Auto Workers strike at Ford cut sales by about 100,000 vehicles and cost the company USD 1.7 billion in lost profits this year, the automaker said Thursday. Additional labour costs from the four-year and eight-month agreement will total USD 8.8 billion by the end of the contract, translating to about USD 900 per vehicle by 2028, Chief Financial Officer John Lawler said in a company release. Ford will work to offset that cost through higher productivity and reducing expenses, Lawler said. The Dearborn, Michigan, automaker re-issued full-year earnings guidance that was withdrawn during the strike, but it trimmed its expectations. The company now expects to earn USD 10 billion to USD 10.5 billion before taxes in 2023. That's down from USD 11 billion to USD 12 billion that it projected last summer. Ford said the strike caused it to lose production of high-profit trucks and SUVs. UAW workers shut down the company's largest and most profitable factory in Louisville, ...

Ford executive chair Bill Ford calls on autoworkers to end strike

Ford Motor Co. Executive Chairman Bill Ford called on autoworkers to come together to end a monthlong strike that he says could cost the company the ability to invest in the future. In a rare speech during contract talks in the company's hometown of Dearborn, Michigan, Ford said high labour costs could limit the company's ability to make future investments. If we lose it, we will lose to the competition. America loses. Many jobs will be lost, said the great grandson of company founder Henry Ford. The company, he said, builds more vehicles in America and has more United Auto Workers employees than any company as he called for an end to what he said was an acrimonious strike. The company is near an impasse with the United Auto Workers union, which walked out in targeted strikes at all three Detroit automakers on September 15. Last week 8,700 union members walked out at the largest and most profitable Ford plant in the world, the Kentucky Truck Plant in Louisville. After the walkout,

US expands Ford engine probe to 2 motors, nearly 709,000 vehicles

US auto safety investigators have expanded a probe into Ford Motor Co. engine failures to include nearly 709,000 vehicles. The National Highway Traffic Safety Administration also said in documents posted Monday on its website that it upgraded the investigation to an engineering analysis, a step closer to a recall. The investigation now covers Ford's F-150 pickup truck, as well as Explorer, Bronco and Edge SUVs and Lincoln Nautilus and Aviator SUVs. All are from the 2021 and 2022 model years and are equipped with 2.7-liter or 3.0-liter V6 turbocharged engines. The agency says that under normal driving conditions the engines can lose power due to catastrophic engine failure related to allegedly faulty valves. The agency opened its initial investigation in May of last year after getting three letters from owners. Initially the probe was looking at failure of the 2.7-liter engine on Broncos. Since then, Ford reported 861 customer complaints, warranty claims and engine replacements ..

United Auto Workers union go on historic strike on 'Big Three' firms

The walkouts at the Detroit Three will halt production of the Ford Bronco, Jeep Wrangler and Chevrolet Colorado pickup truck, along with other popular models

Ford lures Apple executive to run new unit selling software subscriptions

Ford has hired away a key Apple executive to run a new business unit that will sell software-related subscription services to vehicle owners. The Dearborn, Michigan, automaker said Monday it hired Peter Stern, who was Apple's vice president of services. He'll run Ford Integrated Services, a unit that will combine software and hardware into services. At Apple, Stern oversaw Apple TV plus, iCloud storage, Apple Books, the arcade and fitness operations and other businesses, Ford said in a statement Monday. Stern started Monday and reports directly to CEO Jim Farley. Stern also will expand Ford's BlueCruise hands-free partially automated driving system, as well as productivity and safety and security services, the statement said.

Ford recalls 870K F-150 pickups in US, parking brakes turn on unexpectedly

Ford is recalling more than 870,000 newer F-150 pickup trucks in the US because the electric parking brakes can turn on unexpectedly. The recall covers certain pickups from the 2021 through 2023 model years with single exhaust systems. Ford's F-Series pickups are the top-selling vehicles in the US. The company says in documents posted by government safety regulators on Friday that a rear wiring bundle can come in contact with the rear axle housing. That can chafe the wiring and cause a short circuit, which can turn on the parking brake without action from the driver, increasing the risk of a crash. Drivers may see a parking brake warning light and a warning message on the dashboard. Ford says in documents that it has 918 warranty claims and three field reports of wire chafing in North America. Of these, 299 indicated unexpected parking brake activation, and 19 of these happened while the trucks were being driven. The company says it doesn't know of any crashes or injuries caused b

US probes complaints that Ford Escape doors open while SUVs being driven

US auto safety regulators are investigating complaints that the doors on some Ford Escapes can open while the SUVs are being driven. The investigation by the National Highway Traffic Safety Administration covers 346,000 Escapes from the 2020 and 2021 model years. The agency says in documents posted Tuesday on its website that it has 118 complaints that spot welds in a door assembly bracket can fail. Investigators contacted some of the owners and found 25 reports of minor injuries. Many reported a popping noise when they opened the door as a bracket begins to separate. The agency says continued use could dislodge the door, and it could fail to latch when closed. Ford says it's working with the agency to support the investigation. NHTSA says the probe will determine whether the problem creates an unreasonable risk to highway safety. The agency could seek a recall.

Ford cutting several hundred jobs to reduce cost amid transition to EVs

Ford Motor Co. is going through another round of white-collar job cuts as the company continues to reduce costs amid a transition to electric vehicles. The company confirmed on Tuesday that it was starting to notify several hundred engineers and other salaried employees that their jobs are being eliminated. The firings come after around 200 Ford contract employees were let go last week. Spokesman T.R. Reid wouldn't give a specific number of Ford jobs that are being cut this week, but said they are not nearly the scale of those made last summer when the company let go of 3,000 white-collar workers and another 1,000 contractors largely in the US. Most of the cuts were in engineering, but all business units will see job cuts, Reid said. Teams that were affected were pulled together yesterday to let them know that there would be actions taken this week. Then individual people will be notified today and tomorrow, Reid said. CEO Jim Farley has said much of Ford's workforce doesn't have

Ford Motor issues recall notice for 125,000 vehicles that could catch fire

The recall applies to Escapes from 2020 to 2023, Mavericks from 2022 to 2023, and Corsairs from 2021 to 2023, the report mentioned

Ford EV owners to get access to Tesla Supercharger network next spring

All of Ford Motor Co's current and future electric vehicles will have access to about 12,000 Tesla Supercharger stations in the US and Canada starting next spring. Ford CEO Jim Farley and Tesla CEO Elon Musk announced the agreement Thursday during a Twitter Spaces audio chat. We think this is a huge move for our industry and for all electric customers, Farley said. Musk said he didn't want Tesla's network to be a walled garden and that he wants to use it to support sustainable transportation. It is our intent to do everything possible to support Ford and have Ford be on an equal footing at Tesla Superchargers, Musk said. Farley said there will be a cost to Ford owners, perhaps a monthly subscription, but he didn't give specifics. Details of any financial arrangement between Ford and Tesla were not announced. At first, Ford's current electric vehicles will need an adapter to hook into the Tesla stations, which have their own connector. But Ford will switch to Tesla's North America

Will stop competing in over-served markets, instead play big bets: Ford

Ford Motor Co. CEO Jim Farley says the company will stop competing in over-served market segments and instead will place big bets on connected vehicles and digital services. The days of Ford being all things to all people are over, Farley said in a statement ahead of the company's capital markets day event on Monday. He says Ford will be competing differently, going for tailored ownership experiences rather than jockeying for slivers of market share with complex vehicles in over-served market segments. The company is expected to detail how it will accomplish this at the daylong event near its headquarters in Dearborn, Michigan. Executives are to explain how Ford will get to a 10 per cent pretax profit margin in 2026. It reiterated 2023 full-year guidance of USD 9 billion to USD 11 billion in adjusted pretax profits. Ford has split itself into three business units, Ford Blue for gasoline-powered and hybrid vehicles, Ford Model e for electric vehicles and digital products, and Ford

Ford's F-150 leaves tough choices for buyers seeking EV tax credits

Dozens of other electric cars and trucks didn't make the cut, either because they aren't manufactured in the US or don't use American parts and pieces

Chennai unit severance package for over 2,592 staff cost Ford Rs 1,296 cr

Average pay worked out to Rs 44.8 lakh per employee; The company is yet to find buyers for the unit

Ford's electric vehicle unit loses $3 bn, should be seen as startup

Ford Motor Co.'s electric vehicle business has lost USD 3 billion before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology. The figures were released on Thursday as Ford rolled out a new way of reporting financial results. The new business structure separates electric vehicles, the profitable internal combustion and commercial vehicle operations into three operating units. Company officials said the electric vehicle unit, called Ford Model e, will be profitable before taxes by late 2026 with an 8 per cent pretax profit margin. But they wouldn't say exactly when it's expected to start making money. Chief Financial Officer John Lawler said Model e should be viewed as a startup company within Ford. As everyone knows, EV startups lose money while they invest in capability, develop knowledge, build (sales) volume and gain (market) share, he said. Model e, he said, is working on second- and even third-generatio

Ford recalls 1.5 mn vehicles in US to fix leaky brake hoses, wiper arms

Ford is recalling more than 1.5 million vehicles in the US in two actions to fix leaky brake hoses and windshield wiper arms that can break. The largest of two recalls covers nearly 1.3 million 2013 through 2018 Ford Fusion and Lincoln MKX midsize cars. The company says in documents posted on Friday by safety regulators that the front brake hoses can rupture and leak brake fluid. That would increase brake pedal travel and make stopping distances longer. Dealers will replace the hoses. Ford will mail owner notification letters starting April 17. They'll get a second letter once parts are available for the fix. Ford says it's aware of one crash with no mention of injuries due to the problem. The second recall covers more than 222,000 F-150 pickups from 2021. The windshield wiper arms can break. Dealers will replace the arms if needed. Owners will be notified starting March 27.

Ford Motor Co to cut 1,100 jobs in Spain after other European layoffs

Ford Motor Co. announced Friday that it will cut around 1,100 jobs at its plant in the eastern Spanish city of Valencia. The cuts are in addition to the 2,300 layoffs largely in Germany and the U.K. that the automaker announced last month as part of a leaner, more competitive cost structure in Europe. Ford Spain said in a statement that it notified unions on Friday of what it said was a profound restructuring of its operations, which comes even as Ford champions the Valencia plant as its preferred site to assemble next-generation electric vehicles on the continent. The plant is Ford's only such facility in Spain and employed 5,400 people. Ford has said its strategy to offer an all-electric fleet in Europe by 2035 has not changed and that production of its first European-built electric car is due to start later this year. The cuts were mainly due to the already announced discontinuing production of the S-Max and Galaxy models in April 2023, Ford Spain said in an email. In January,

Ford halts production, shipments of electric truck due to battery issue

US automaker Ford has stopped the production and shipments of its electric F-150 Lightning pickup owing to a battery issue.

Ford to cut 3,800 jobs over next 3 years in Europe, mostly in Germany, UK

Ford said Tuesday that it will cut 3,800 jobs in Europe over the next three years in an effort to streamline its operations as it contends with economic headwinds and increasing competition on electric cars. The automaker said that 2,300 jobs will go in Germany, 1,300 in the UK and 200 elsewhere on the continent. It said that its strategy to offer an all-electric fleet in Europe by 2035 is unchanged and that production of its first European-built electric car is due to start later this year. The company said it is looking for a leaner, more competitive cost structure for Ford in Europe. It said that it will embark on consultations with the intent to achieve the reductions through voluntary separation programmes. Ford aims to cut 2,800 of the jobs in engineering by 2025, a result of the transition to electric cars that are less complex, though it plans to keep around 3,400 engineering jobs in Europe. The remaining 1,000 jobs will be cut on the administrative side. These are difficu

Ford to cut 3,800 engineering, administration jobs in Europe in next 3 yrs

Around 2,300 jobs will go at the carmaker's Cologne and Aachen sites in Germany, 1,300 in the UK and 200 in the rest of Europe, the company said

Ford returns to F1 after 2 decades as racing series see surge in popularity

The automaker will reenter F1 in 2026, when new regulations will require teams to increase electrical power by as much as 50% and use fully sustainable ethanol as fuel