Posts Tagged ‘Ford’

Ford Gives The U.S. Hope

Wednesday, August 4th, 2010

Ford reports an exceptionally strong first half of 2010 and causes optimism for the U.S. auto industry.

  • Ford’s second-quarter earnings were much stronger than expected and the company is on track for “solid profits” in 2010.
  • Ford plans to discontinue its Mercury brand and sell Volvo to China’s Geely in the 3rd quarter because it wants to focus on mass marketing Ford and Lincoln brands.
  • Ford was the only large U.S. automaker to avoid bankruptcy in 2009, and is therefore in greater debt than GM and Chrysler.
  • Ford paid back 7 billion dollars of debt in the 2nd quarter (now $27.3 billion in debt) and plans to continue debt reduction.

Facts & Figures

  • Second-quarter net profits were $2.6 billion, compared to $2.26 one year ago.
  • Ford revenue increased by $4.5 billion to $31.3 billion.
  • This is the 4th consecutive quarter that Ford has reported profits.

Best Quote

“We delivered a very strong second quarter and first half of 2010 and are ahead of where we thought we would be despite the still-challenging business conditions.” -Alan Mulally, Ford Motor Co., Chief Executive

Ford for Facebookers

Friday, February 12th, 2010

American automakers shift their focus to smaller vehicles and younger consumers. Who’s buying?

  • Ford, Chrysler and GM are attempting to expand their consumer base by utilizing social media platforms such as Facebook.
  • Dealerships are remodeling their stores and lots, so they no longer resemble truck lots and instead have a clean, modern aesthetic intended to appeal to people who buy small cars.
  • Salespeople are being taught how to effectively discuss potential buyer concerns, such as fuel efficiency, as well as how their cars compare to Toyota’s and Honda’s.

Facts & Figures

  • In 2009, small cars made up 19% of the 8.65 million light vehicles sold in the U.S, which pickups and SUVs composed 46%.
  • Only 7% of “millennials” (people born between 1979 and 1985) consider a Ford when shopping for a small car.
  • Ford will send a social media consultant to its largest 800 dealerships – about 25% of its stores, to build an online infrastructure within the company.

Best Quote

“Gas prices and lifestyle changes are going to push more people into small cars.” – Tony Pack, General Manager of “Five Star Ford” in Dallas, TX