Ford Motor Co. CEO Alan Mulally in a half-hour session today trades “tweets” with the Twitter online community as the auto maker further delves into Internet social networking.
Monday, April 27, 2009
Friday, April 24, 2009
2010 Jaguar XJ Teaser Video
Check out this teaser of the all new 2010 Jaguar XJ! Jaguar = #1 in Dependability !
Wednesday, April 22, 2009
Tuesday, April 14, 2009
Ford soars on debt restructuring
Check out this excellent article from the MSN moneyblog on Ford's plans for the future.
http://blogs.moneycentral.msn.com/topstocks/archive/2009/04/06/ford-soars-on-debt-restructuring.aspx
Thursday, April 9, 2009
Jaguar: #1 Dependability, #1 Sales Satisfaction, #1 Customer Service
Jaguar? Really?
The New York Times may be surprised about our latest accolade, but Jaguar drivers around the world aren’t. That’s because today’s Jaguars are not just beautifully designed, high-performance cars, they’re also incredibly reliable. Just this month Jaguar was recognized for unsurpassed dependability. Which really is no surprise considering our commitment to intelligent design, innovative technology, and obsessive quality. Every rivet, every weld, every moving part is checked before undergoing rigorous testing on the grueling Nürburgring. But of course, when you reinvent a car company, you don’t just reinvent the cars. You transform the whole customer service experience. And if you do this well, the world begins to notice. Over the past 12 months, Jaguar has been ranked #1 in Vehicle Dependability, #1 in Sales Satisfaction, and #1 in Customer Service by renowned organizations. Dependability. Sales Satisfaction. Service. Three things you may not immediately be thinking about when you hear the roar of a 510 hp Jaguar, but three things you’ll appreciate in the years to come. Really.
For more info visit: www.JaguarUSA.com/really
Tuesday, April 7, 2009
Incredible Deals Possible With Clunkers Bill BusinessWeek.com 04/01/09 by David Kiley
One proposed Clunker bill, introduced by Rep. Betty Sutton (D-OH) would result in some sensational deals on new cars if some version of the bill gets passed in Congress.
This is a bill that would use tax-payer dollars to add to new-car incentives. The idea is to give people money to buy new cars, stimulate the economy and get older cars with poor emissions performance off the road.
Edmunds.com gave me MSRPs and current incentives on five vehicles that would easily qualify for the federal incentives under the Sutton bill; though I caution that there is committee work being done on the bills in Congress that may not come out as generous as Sutton’s. This is back-of-the-envelope. But it’s pretty close. And it assumes that the car companies would keep up their levels of incentives, though some may be backed off if the government steps in.
The Chevy Malibu: MSRP is $25,510. GM already has incentives taking it down to $20,510. The four cylinder Malibu would qualify for a $5,000 added incentive, while the six-cylinder would qualify for a $4,000 rebate. Take an additional $300 off for the sales tax credit. Final price: $14,700 for a Malibu.
Ford Focus: MSRP is $18,466. Ford’s incentives take it down to $15,200. The Focus would qualify for a $5,000 federal rebate. Sales tax savings would be around $225.00. Final price: about $10,000.
Honda Civic: MSRP is $20,589. Honda’s incentives take it down to $18,417. Add the Federal rebate of $5,000 and the tax credit worth about $275. Final price: About $13,000.
Dodge Ram: The Sutton bill calls for commercial trucks to be bought as long as a nine-year-old or older truck is scrapped. No fuel economy provision for businesses. MSRP on the RAM 1500 Edmunds cites is $39,010. Chrysler’s incentives already take it down to $27,973. The federal rebate would be $5,000, and the tax credit is worth about $400. Final price: $22,500 for a pretty loaded truck.
Toyota Camry: MSRP is $25,037. Toyota already discounts it to $21,338. Add a $5,000 federal rebate for the four-cylinder, or $4,000 for the six cylinder. Tax credit savings is about $300. Final price: About $16,000 for the four cylinder Camry.
The Sutton bill, like others, is structured to get people out of older cars with poorer emissions and fuel economy performance, and into a new, greener car that will stimulate the economy.
Getting out of, say, a 1995 Explorer and into a Malibu, Ford Fusion or even a Focus, is not far fetched. Ford, for example, says the trend has already begun of baby boomers who bought minivans and SUVs in their child rearing ages trading them in for cars. That trend is only going to continue.
Think of young drivers who inherited some of these SUVs and Oldsmobiles from their parents and grandparents. If the clunker bill passes, it’s hard to imagine getting this much vehicle for such a low price again after the money for the bill runs out.
The only alteration to the above numbers I’d make is that you would need to add to your total cost the cost of financing ( if you couldn’t get zero-percent) and the value of your trade in. As the car will be scrapped, there is no trade in value.
So, some people may take themselves out of the process. My 2000 Subaru Legacy, for example, is worth about $4,000 if I sell it. I lose that if I treat as a clunker. But the person who has, or can scare up a 1993 Explorer with 200,000 miles on it or a 1993 Olds Cutlass Ciera with 180,000 miles on it is in a lot better shape. Or take my friend Darlene who has a 1988 Jeep Cherokee whose engine parts are deteriorating from the ethanol levels in today’s gasoline. Her car is worth zip, except to her.
Given the fact that the auto industry is selling at a rate of 9.7 million a year, and the “real” demand is more like 13.5 million but for the Recession, it’s hard to believe that deals like these wouldn’t drag a million additional buyers off the sidelines.
This is a bill that would use tax-payer dollars to add to new-car incentives. The idea is to give people money to buy new cars, stimulate the economy and get older cars with poor emissions performance off the road.
Edmunds.com gave me MSRPs and current incentives on five vehicles that would easily qualify for the federal incentives under the Sutton bill; though I caution that there is committee work being done on the bills in Congress that may not come out as generous as Sutton’s. This is back-of-the-envelope. But it’s pretty close. And it assumes that the car companies would keep up their levels of incentives, though some may be backed off if the government steps in.
The Chevy Malibu: MSRP is $25,510. GM already has incentives taking it down to $20,510. The four cylinder Malibu would qualify for a $5,000 added incentive, while the six-cylinder would qualify for a $4,000 rebate. Take an additional $300 off for the sales tax credit. Final price: $14,700 for a Malibu.
Ford Focus: MSRP is $18,466. Ford’s incentives take it down to $15,200. The Focus would qualify for a $5,000 federal rebate. Sales tax savings would be around $225.00. Final price: about $10,000.
Honda Civic: MSRP is $20,589. Honda’s incentives take it down to $18,417. Add the Federal rebate of $5,000 and the tax credit worth about $275. Final price: About $13,000.
Dodge Ram: The Sutton bill calls for commercial trucks to be bought as long as a nine-year-old or older truck is scrapped. No fuel economy provision for businesses. MSRP on the RAM 1500 Edmunds cites is $39,010. Chrysler’s incentives already take it down to $27,973. The federal rebate would be $5,000, and the tax credit is worth about $400. Final price: $22,500 for a pretty loaded truck.
Toyota Camry: MSRP is $25,037. Toyota already discounts it to $21,338. Add a $5,000 federal rebate for the four-cylinder, or $4,000 for the six cylinder. Tax credit savings is about $300. Final price: About $16,000 for the four cylinder Camry.
The Sutton bill, like others, is structured to get people out of older cars with poorer emissions and fuel economy performance, and into a new, greener car that will stimulate the economy.
Getting out of, say, a 1995 Explorer and into a Malibu, Ford Fusion or even a Focus, is not far fetched. Ford, for example, says the trend has already begun of baby boomers who bought minivans and SUVs in their child rearing ages trading them in for cars. That trend is only going to continue.
Think of young drivers who inherited some of these SUVs and Oldsmobiles from their parents and grandparents. If the clunker bill passes, it’s hard to imagine getting this much vehicle for such a low price again after the money for the bill runs out.
The only alteration to the above numbers I’d make is that you would need to add to your total cost the cost of financing ( if you couldn’t get zero-percent) and the value of your trade in. As the car will be scrapped, there is no trade in value.
So, some people may take themselves out of the process. My 2000 Subaru Legacy, for example, is worth about $4,000 if I sell it. I lose that if I treat as a clunker. But the person who has, or can scare up a 1993 Explorer with 200,000 miles on it or a 1993 Olds Cutlass Ciera with 180,000 miles on it is in a lot better shape. Or take my friend Darlene who has a 1988 Jeep Cherokee whose engine parts are deteriorating from the ethanol levels in today’s gasoline. Her car is worth zip, except to her.
Given the fact that the auto industry is selling at a rate of 9.7 million a year, and the “real” demand is more like 13.5 million but for the Recession, it’s hard to believe that deals like these wouldn’t drag a million additional buyers off the sidelines.
President's press secretary touts Ford Escape Hybrid
David Shepardson / Detroit News Washington Bureau
WASHINGTON -- When in doubt, drive what the boss drives.
President Obama's press secretary owns a Ford Escape Hybrid -- just like his boss.
White House Press Secretary Robert Gibbs touted his grey model during a press briefing Thursday.
"It's a nice car. It really is," Gibbs told reporters. "I'm a proud Ford owner, and I'm happy to say that. No, the president's Ford is back in Chicago, probably for good reason. The Secret Service doesn't let him drive anymore, which I know he misses. But, no, obviously, the president believes that American automakers are building cars that Americans want to buy and that are also being sold overseas."
In 2007, facing criticism, Obama sold his less efficient V8 Chrysler 300C, replacing it with a Ford Escape Hybrid.
Ford is the only of the Detroit Three automakers that has declined to seek government loans.
Friday, April 3, 2009
Mulally says Ford now has competitive edge -- CEO believes key concessions will allow automaker to survive industry's crisis
The Detroit News 03/30/09 Dearborn--
When Alan Mulally flew into town a little more than two years ago to take the top job at Ford Motor Co., many wondered what an aerospace executive from Seattle knew that Detroit's best and brightest did not.
Plenty, apparently. Days before word that General Motors Corp. CEO Rick Wagoner was ousted by the Obama administration as part of a plan to provide GM with more federal aid, Mulally sat in his corner office on the 12th floor of Ford headquarters with a grin on his face.
Asked why he was smiling, he did not hesitate: Ford has won all of the concessions it needs from labor and investors to weather the industry's crisis -- even if car and truck sales continue to decline.
Just three months ago, Ford said it might have to join GM and Chrysler LLC in asking Washington for help if auto sales did not bottom out by May or June.
But Ford has since reached an agreement with the United Auto Workers to reduce labor costs, and Ford bondholders snapped up an offer to swap debt for equity in the company, money-saving moves that put Ford on a more level playing field with Asian rivals.
"We are competitive now," Mulally told The Detroit News in an interview Friday. "The downturn is a temporary thing. We just have to make it through it."
Analysts are predicting that March auto sales, to be released on Wednesday, will come in well below February's dismal numbers -- demand fell 41.4 percent last month compared to a year ago -- suggesting that there is no end in sight to the sales slump that has automakers reeling from Detroit to Tokyo. But Mulally said Ford has taken all the steps necessary to respond to the crisis.
Over the past month, the automaker has convinced UAW members to accept major modifications to the union's labor contract. Sources say those concessions will cut Ford's labor costs to less than $50 an hour, putting it on par with Japanese manufacturing operations in the United States. Ford also offered bondholders a debt restructuring that was oversubscribed within a couple of weeks.
"Investors jumped on the offer like it had slapped their mothers," said analyst Shelly Lombard of Gimme Credit. "Ford will shed $2.2 billion of bank debt, $4 (billion) to $4.4 billion of bonds, and $4.9 billion of convertible notes. That's $11.1 (billion) to $11.5 billion or almost a third of its $36 billion of debt. And we estimate Ford will save as much as $600 million of interest expense (annually)."
Now, Mulally says, it is just a matter of continuing to match production to the actual demand for Ford's cars and trucks.
Judging by inventory levels, Ford has been doing that. Despite the sales drop, the company ended February with 32 percent fewer vehicles on dealer lots than a year ago.
Ford could still benefit from more consolidation among its dealers and suppliers, but that is likely to occur organically given the weak economy.
"They've done what they have in their control to do, and they've done a terrific job doing it," said David Cole, chairman of the Center for Automotive Research in Ann Arbor. "There's nothing obvious left to do."
Consumers appreciate Ford's effort to save itself without government loans, Mulally said, and that is having an impact on the showroom floor. Still, some have suggested that Ford is playing a dangerous game by touting its self-reliance when the industry's recovery is far from certain.
Mulally is adamant that the only scenario that would force Ford to ask for government aid now is if the country's economic decline dramatically worsens. He is confident that the Obama administration will not let that happen.
"We have the economy on the top of the agenda, and we're moving decisively to deal with it," Mulally said. "We're not taking taxpayer money."
Cole said that message has resonated with American consumers, who mainly oppose anything resembling a bailout. But he stressed that Ford cannot begin to rebound until there is a broader recovery in the U.S. auto market.
When Alan Mulally flew into town a little more than two years ago to take the top job at Ford Motor Co., many wondered what an aerospace executive from Seattle knew that Detroit's best and brightest did not.
Plenty, apparently. Days before word that General Motors Corp. CEO Rick Wagoner was ousted by the Obama administration as part of a plan to provide GM with more federal aid, Mulally sat in his corner office on the 12th floor of Ford headquarters with a grin on his face.
Asked why he was smiling, he did not hesitate: Ford has won all of the concessions it needs from labor and investors to weather the industry's crisis -- even if car and truck sales continue to decline.
Just three months ago, Ford said it might have to join GM and Chrysler LLC in asking Washington for help if auto sales did not bottom out by May or June.
But Ford has since reached an agreement with the United Auto Workers to reduce labor costs, and Ford bondholders snapped up an offer to swap debt for equity in the company, money-saving moves that put Ford on a more level playing field with Asian rivals.
"We are competitive now," Mulally told The Detroit News in an interview Friday. "The downturn is a temporary thing. We just have to make it through it."
Analysts are predicting that March auto sales, to be released on Wednesday, will come in well below February's dismal numbers -- demand fell 41.4 percent last month compared to a year ago -- suggesting that there is no end in sight to the sales slump that has automakers reeling from Detroit to Tokyo. But Mulally said Ford has taken all the steps necessary to respond to the crisis.
Over the past month, the automaker has convinced UAW members to accept major modifications to the union's labor contract. Sources say those concessions will cut Ford's labor costs to less than $50 an hour, putting it on par with Japanese manufacturing operations in the United States. Ford also offered bondholders a debt restructuring that was oversubscribed within a couple of weeks.
"Investors jumped on the offer like it had slapped their mothers," said analyst Shelly Lombard of Gimme Credit. "Ford will shed $2.2 billion of bank debt, $4 (billion) to $4.4 billion of bonds, and $4.9 billion of convertible notes. That's $11.1 (billion) to $11.5 billion or almost a third of its $36 billion of debt. And we estimate Ford will save as much as $600 million of interest expense (annually)."
Now, Mulally says, it is just a matter of continuing to match production to the actual demand for Ford's cars and trucks.
Judging by inventory levels, Ford has been doing that. Despite the sales drop, the company ended February with 32 percent fewer vehicles on dealer lots than a year ago.
Ford could still benefit from more consolidation among its dealers and suppliers, but that is likely to occur organically given the weak economy.
"They've done what they have in their control to do, and they've done a terrific job doing it," said David Cole, chairman of the Center for Automotive Research in Ann Arbor. "There's nothing obvious left to do."
Consumers appreciate Ford's effort to save itself without government loans, Mulally said, and that is having an impact on the showroom floor. Still, some have suggested that Ford is playing a dangerous game by touting its self-reliance when the industry's recovery is far from certain.
Mulally is adamant that the only scenario that would force Ford to ask for government aid now is if the country's economic decline dramatically worsens. He is confident that the Obama administration will not let that happen.
"We have the economy on the top of the agenda, and we're moving decisively to deal with it," Mulally said. "We're not taking taxpayer money."
Cole said that message has resonated with American consumers, who mainly oppose anything resembling a bailout. But he stressed that Ford cannot begin to rebound until there is a broader recovery in the U.S. auto market.
The Ford Story: In The News
It's exciting to see Ford Motor Company taking a leadership position in the marketplace…and it's great to see consumers and the media take notice of how Ford is DIFFERENT from other OEMs. I want so share a couple news articles (below) that are in the papers this week:
USA TODAY -- Today, March 31st: "Cash in Old Cars for New Ones" by Bill Ford, Chairman of FMC (Page 11A)
The Detroit News - March 30th: "Mulally says Ford now has Competitive Edge"
Thanks for ALL YOU DO to support Ford and Lincoln Mercury!
USA TODAY -- Today, March 31st: "Cash in Old Cars for New Ones" by Bill Ford, Chairman of FMC (Page 11A)
The Detroit News - March 30th: "Mulally says Ford now has Competitive Edge"
Thanks for ALL YOU DO to support Ford and Lincoln Mercury!
Ford Advantage & Payment Protection
I'm sure by now you've all seen the communications on the announcement of the FORD ADVANTAGE PLAN. The Company has decided to pull-ahead and announce the program one-day early, with the Ford Payment Protection starting TODAY, March 31st and compatible with ALL current March incentives…providing an excellent value for consumers to make their purchase decision TODAY for the March sales close!
Key highlights of the program are:
Ford leads the industry in boosting consumer confidence with the new Ford Advantage Plan
Ford will cover payments for UP TO 12 MONTHS on any new Ford, Lincoln or Mercury vehicle if customers lose their jobs
0.0% financing is also offered through Ford Motor Credit on select Ford, Lincoln and Mercury vehicles
Ford also is working with its dealers to introduce a local charity support program
For more info, call us at 321-452-9220 and ask to speak with a Sales Associate!
Key highlights of the program are:
Ford leads the industry in boosting consumer confidence with the new Ford Advantage Plan
Ford will cover payments for UP TO 12 MONTHS on any new Ford, Lincoln or Mercury vehicle if customers lose their jobs
0.0% financing is also offered through Ford Motor Credit on select Ford, Lincoln and Mercury vehicles
Ford also is working with its dealers to introduce a local charity support program
For more info, call us at 321-452-9220 and ask to speak with a Sales Associate!
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