Ford reported a $1.12 billion second-quarter net profit, pushed into the black by a $3.5 billion gain on the value of its stake in the Argo AI autonomous vehicle operation. Without the one-time gain, the company lost $1.9 billion, or a 35 cents per share. But that was far better than the $1.17 a share loss Wall Street had expected, according to FactSet.
The automaker said Tuesday that its revenue from January through March fell nearly 16% to $31.3 billion as most of its factories were shut down for the final week of the quarter.
Ford said it will reopen some key truck factories by mid-April while Honda and Toyota, citing slumping sales, extended shutdowns at North American factories. Ford’s plans raised more concerns at the UAW, which has pressed the Detroit 3 to shutter plants to protect workers and help stem the spread of the coronavirus.
Ford, General Motors, Fiat Chrysler, Honda, and Toyota said they would shut down all factories in the region, citing concerns for employees who work in close quarters building automobiles. Nissan will close U.S. factories. Hyundai shut down its Alabama plant after a worker tested positive for the virus.
The United Auto Workers and Ford Motor Co. will officially launch talks on a four-year contract on Monday that are expected to be contentious, with rising health care costs, job security and the use of temporary workers expected to be major sticking points.
Ford Motor Co gave a fourth-quarter earnings forecast on Wednesday that was below analysts’ expectations, sending shares down slightly in U.S. premarket trading.
Volkswagen AG and Ford Motor Co. are expected to unveil an alliance on Tuesday that combines forces on commercial vehicles and is likely to expand into joint development of electric and self-driving technology, moves meant to save the automakers billions of dollars.
Ford has ended nationwide advertising for the Fiesta, Focus, Fusion and Taurus and also is dialing back spending in certain markets — even though the Fusion will stay in showrooms for now.
Ford on Wednesday reported a rise in net income of 4% to $2 billion during the second quarter despite lower sales and upheaval in its executive ranks.The company attributed the rise to a change in the company’s tax rate and a strong performance from its credit arm.
Hyundai’s reign as the NFL’s only automotive sponsor ended Wednesday when Ford announced a three-year deal as the official truck of the NFL. Hyundai’s four-year deal began last year when the Korean brand replaced General Motors, which had sponsored the NFL since 2001.
Ford said Thursday its second-quarter profit fell 9% to $1.97 billion and warned that the rest of the year would be “much weaker than normal” as U.S. demand softens and the automaker launches redesigned versions of its heavy-duty pickups.
Ford Motor Co. has partnered with NBC to integrate the 2017 Ford Escape into two prime-time shows, The Blacklist and Blindspot. The custom content will air throughout May in pieces jointly created by Ford and NBC. The narrative will highlight various features on the 2017 Escape, including the available Sync connectivity.
Most of the old X-Files gang has gotten back together for the upcoming six-part revival of Fox’s ’90s megahit, which bows on Sunday, Jan. 24. And the reunion isn’t limited to series creator Chris Carter and co-stars David Duchovny and Gillian Anderson; one of the show’s most visible sponsors is also along for the ride. Fox on Tuesday said that long-standing X-Files backer Ford will play a key role in the miniseries, having cut a deal that ensures placement in each of the half-dozen episodes.
Ford earned $2.7 billion in North America, up 89% from a year ago, largely on higher sales of its new F-150 pickup truck. Ford introduced the aluminum-sided truck last fall but didn’t reach full production at its two U.S. factories until June. The results were the strongest indication yet that Ford’s risky decision to remake its best-selling vehicle as a lighter aluminum model is paying off.
DETROIT (AP) — Ford Motor Co. said Thursday it’s laying off 700 workers at a Michigan assembly plant because of slow sales of the small cars and hybrids it makes. The Michigan Assembly Plant, in the Detroit suburb of Wayne, will move from three shifts to two starting June 22, spokeswoman Kristina Adamski said. The […]
Ford will use the first-ever College Football Playoff to launch the advertising campaign for the redesigned F-150, but viewers won’t hear a word about how the truck’s lighter aluminum body helps improve fuel efficiency.
Known for his casual, laid-back charm, Rowe was the face of Ford cars, trucks and service for seven years in TV spots created by WPP Group’s Team Detroit. “We decided after a great association with Mike Rowe for several years that it was time to move in a new direction,” said a Ford spokesman. “We are no longer working together.”
In what the network is characterizing as its most ambitious co-branded marketing campaign to date, the CW and Ford have teamed up on a cross-platform initiative that will give viewers a sneak peek at a roster of new and returning series. Rolling out today, the campaign incorporates elements from Ford’s social engagement effort (“Fiesta Movement: A Social Remix”).
Ford said that it sold nearly half a million of the compact cars in the first six months of the year and that it expects the world’s-best pace to continue.“The Focus is attracting many new customers to the Ford brand for the very first time, particularly in Asia where we are growing every day,” says global market chief Jim Farley.
The car and truck maker said Wednesday that it now expects full-year U.S. sales to be in the range of 14.5 million to 15 million. That’s up from 13.5 million to 14.5 million at the beginning of this year.
Ford is giving players of digital games a virtual view of the Focus sedan. The Dearborn, Mich.-based automaker is putting the redesigned car in the Electronic Arts platform “The Sims 3,” the latest iteration of a life-simulation game of which EA says it has sold over 145 million copies. Brian McClary, Ford’s social and emerging media specialist, says the involvement demonstrates Ford’s efforts to find alternative channels beyond traditional media.
Mazda cars sold in the U.S. will be shipped from Japan and Mexico starting around 2013, according to a report by Nikkei financial daily.
As millions of TV viewers tune into tonight’s American Idol finale, some viewers might find that their iPads seem to be watching the show as well. The Idol fan site AmericanIdolNet.com will display a number of banner ads that directly react to commercials shown on TV, asking viewers whether the Ford commercial on their TV screen is convincing enough for them to buy a new car.
The CW and Ford are collaborating on a campaign starring CW actors across three ads every hour in most of the network’s primetime lineup.
Ford Motor Co. says its U.S. sales rose 15% in 2010, while Chrysler today reported that its U.S. sales rose 17% last year, helped by purchases from rental car companies and strong demand for its new Jeep.