On June 16, 2003, Ford Motor Company officially turns 100 years old. Incredibly, the second largest carmaker in the world was largely the vision of one man. “I will build a car for the great multitude,” founder Henry Ford once said. “It will be so low in price…that no man will be unable to own one.” He might have added, that “many men won’t be able to resist modifying them,” as well. If he were still alive, Henry Ford would probably be surprised to see how much today’s hot rodders and customizers still covet his older cars, especially the ’20s and ’30s-era models he had a hand in creating. Although nearly every domestic make and model has been hopped up or restyled, Fords are indisputably still the most popular canvasses for rodding’s artists. In the mid-’50s, Chevy’s powerful but ubiquitous small-block replaced Ford’s flathead as hot rodding’s powerplant of choice. Still, the resurgence of … [Read more...] about 100 Years of Ford Motor Company – One Fast Century
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The Collectors Foundation, whose mission is to serve young people through the passion of collector car and classic boat enthusiasts, is pleased to announce Ford Motor Company as an educational supporter. With this grant, the Collectors Foundation extends the educational mission of Ford Motor Company Fund, and aids the Collectors Foundation in reaching young people and growing the interest in historic automobiles. “Supporting the Collectors Foundation is a unique way for Ford Motor Company Fund to extend its educational reach to young people interested in working on classic cars,” said Mike Schmidt, director of education, Ford Motor Company Fund. “Education is a top priority at Ford Fund, and this grant helps preserve interest in the history of the auto business in both a fun and educational way.” “The Collectors Foundation and Ford Motor Company have a similar goal of reaching youth in the hobby and we feel this grant helps in achieving our … [Read more...] about The Collectors Foundation & Ford Motor Company Fund – Charitable Foundation
Henry Ford had been tinkering with gasoline engines for nearly a decade before he officially founded the Ford Motor Company on June 16th, 1903. The Quadricycle, shown above after its initial trial run on June 4th, 1896, was powered by a 2-cylinder, four-stroke engine and feature a trolley bell to alert pedestrians. The Quadricycle led to another design in 1898 that convinced Ford to quit his Chief Engineering position at the Edison Illuminating Company and start his own company. His first venture failed, but soon Ford gathered stockholders in the Detroit Automobile Company to found the Henry Ford Company. Shortly after its founding, Henry Leland joined the company and Ford left. The Henry Ford Company was renamed Cadillac Automobile Company. Yep, that Cadillac. You might be thinking, “What’s next, is he going to start a company with some Mopar founding father too?” Actually, yes. Ford went on to forge a partnership with Alexander Malcomson, who backed an auto … [Read more...] about Happy Anniversary Ford Motor Company!
Ford Motor Company posted earnings of $1.6 billion in the first quarter of 2017, off more than one-third from last year’s record first quarter of $2.5 billion. The automaker blamed higher costs due to such factors as increased price of steel and other commodities, plus lower volume and an unfavorable exchange rate, higher warranty costs and new product development. Ford singled out its Lincoln division, F-150 and Super Duty as contributing to higher transaction prices in the U.S. market and helping to deliver a still-healthy profit. Transaction prices for its new cars and trucks rose $1,971 year-over-year, according to Ford, compared with an industry average increase of $506. Revenues totaled $39.1 billion for Q1 ’17. Ford’s adjusted pre-tax profit of $2.2-billion (using non-Generally Accepted Accounting Principles for this specific item) was down from $3.8 billion in Q1 ’16. Mark Fields, president and CEO singled out such “investments in Ford’s … [Read more...] about Ford Motor Company’s Earnings Slide 36 Percent in First Quarter
Ford Motor Company sold 6.6 million cars and trucks globally in 2015, for net revenue of $149.6 billion, up $5.5 billion over 2014. Its pre-tax profit of $10.8 billion was up $3.5 billion over Fiscal Year ’14, with net income of $7.4 billion up from $1.3 billion the year earlier. Like the rest of the automotive world, the propensity of that financial success came from compact and midsize crossover/utility vehicles and large pickup trucks, the latter of which has contributed as much as 90 percent of profit for the world’s fourth-largest automaker in recent years. While Ford expects less industry growth in 2016 than the 2015 results, “we feel there’s some upside opportunity to grow F-150 volume this year,” president and CEO Mark Fields (pictured above) said Thursday, because production of the new aluminum-bodied truck has fully ramped up. Like Fiat Chrysler, Ford sees continued growth in the crossovers/SUVs and trucks, though Ford is not talking about … [Read more...] about Ford Motor Company Earns Record $10.8 Billion Pre-Tax Profit in 2015
A year ago, when the heads of Detroit’s Big Three – GM’s Rick Wagoner, Ford’s Alan Mulally, and Chrysler’s Bob Nardelli – appeared in the infamous Capitol Hill bailout hearings, many lawmakers, and many Americans, decided that this trio from the industrial heartland could all be tarred with the bad-CEO brush. There was a telling moment, during a discussion about executive compensation, when the three CEOs were asked if they were willing to work for a dollar a year.Mulally’s polite reply, “I think I’m OK where I am,” was a juicy piece of red meat for the national media, who were as one in their downright contempt for these three men and the industry they represented. CNN’s Anderson Cooper literally sneered in disgust.The truth of the matter was hard to ascertain in that politically charged Senate hearing room, but it’s now obvious: Alan Mulally was, and is, worth whatever Ford is paying him, because he has almost … [Read more...] about 2010 Man of the Year: Alan Mulally, CEO Ford Motor Company
Ford is the only automaker to earn the recognition by Ethisphere Institute’s 2015 list of World’s Most Ethical CompaniesFord Motor Company has been bestowed with 2015 World’s Most Ethical Company by Ethisphere Institute, an American management consulting firm. Ford is the only automobile company to receive this honor for six consecutive years. The 2015 assessment of the list of World's Most Ethical Companies included 132 firms ranging from 21 countries and 5 continents representing over 50 industries. Talking about the Indian companies, there were only three on the list – Wipro, Tata Steel and Tata Power.Ethisphere Institute has developed a framework which analyzes performance of various companies for the title. The honor is given based on top ratings in five categories – ethics and compliance; corporate citizenship and responsibility; culture of ethics, governance and leadership; innovation; and reputation.“This award celebrates doing business the … [Read more...] about Ford Motor Company Named 2015 Worlds Most Ethical Company, sixth time in a row!
You don’t reach the ripe old age of 101 without accumulating a few stories, and by all accounts, Arjay Miller had them in spades. The former Ford Motor Company “Whiz Kid,” part of a group of young men hired en masse by Henry Ford II following the Second World War, joined his colleagues in turning around a once-revolutionary automaker that had fallen behind the times.After achieving this goal, Miller found himself president of the company, only to give up the cushy, high-flying executive existence for the low-paid academic life he seemed to prefer.Miller, 101, died of a stroke at his Woodside, California home on November 3rd. Stanford University, where Miller served as dean of the Stanford Graduate School of Business for 10 years following his departure from Ford, reported the death on Tuesday.From his rural upbringing in Nebraska, Miller’s path took him to California, where his education consisted of a bachelor of science degree in finance and banking from the … [Read more...] about Last Whiz Kid Dies at 101: Arjay Miller Served as Ford Motor Company’s Seventh President
With its Ford and Lincoln brands, the Ford Motor Company reported 240,250 U.S. sales in May 2017, a 2-percent year-over-year improvement.General Motors, which has outsold Ford Motor Company in 14 consecutive months, sold 237,364 new vehicles in May 2017, a 1-percent year-over-year drop.In May 2017, for the first time since March of last year, the Ford Motor Company outsold General Motors.The Mark Fields era at Ford, a period in which the company’s value crumbled, is over. But if Fields took the blame for what ailed Ford, doesn’t he get the credit for what went right? Besides a handsome severance package, the Mark Fields era ended with Ford Motor Company out in front of General Motors.But how did Ford make it happen? With pickups and fleets. PICKUPIn other words, pickups are hot. GM’s pickups, increasingly de-incentivized, are not.Meanwhile at Ford, F-Series sales jumped 13 percent last month, continuing a trend of improvement from the earlier part of the year … [Read more...] about How Did Ford Motor Company Outsell General Motors In May 2017?
After partnering with the Russian company Sollers for the past five years and investing more than $1 billion into car and engine factories, Ford Motor Company is betting on a Russian rebound and still sees the beleaguered country as a long-term play. Amid GM’s retreat from Russia, Ford stuck to its game plan by spending cash on new models and plants in that country, presumably to avoid a catch-up situation similar to the one it faced in China. According to Automotive News, the commitment paid off in the first quarter of 2016, sending sales up by 93 percent in a market that saw a 17 percent decline over the same period. The Russian automobile market, once the second largest in Europe, is in a steep decline due to a prolonged recession. Exporting vehicles from Russia is also an option being kept open by Ford Sollers, thanks to the ruble’s weakness compared to other currencies. If there’s a shortage of capacity in western Europe, it could create a unique … [Read more...] about Reinvest in Russia? Ford Motor Company Says “Da!”