Filed under: Ford, Earnings/Financials

Ford Motor Company has reported a fourth quarter profit for 2009 that helped the Dearborn, MI-based automaker end the last fiscal year in the black, its first yearly profit in about four years. While Ford’s 2009 Q4 income was $868 million versus a loss of $5.9 billion the year prior, the effect on the year as a whole put $2.7 billion in the automaker’s pockets versus a loss of $14.8 billion in 2008. What’s more, Ford’s Chief Financial Officer Lewis Booth forecasts a profitable 2010 and raised the company’s outlook in 2011 from “break-even or better” to “solidly profitable.”

Booth did caution that much of last year’s profit had to do with debt restructuring, but Ford also lowered its structural costs in Q4 by $500 million and $5.1 billion for all of 2009, which also beat the company’s own goal of a $4 billion reduction.

While financial numbers are difficult to understand and even harder to explain, there is one thing Ford announced that we’re sure everyone can understand. The company will raise its first quarter production levels in North America by 20,000 units, from 550,000 to 570,000. This will help Ford meet rising demand for its cars and trucks and keep inventory hovering around a 60-day supply, the industry standard.

[Source: Ford, Automotive News - sub. req. | Image: Karen Bleier/AFP/Getty]

Ford earned $2.7B profit in 2009, predicts repeat in 2010 originally appeared on Autoblog on Thu, 28 Jan 2010 08:33:00 EST. Please see our terms for use of feeds.

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Filed under: Sedan, Etc., Government/Legal, Safety, Ford

When we look at Motor Trend magazine’s golden calipers, we think of a prestigious trophy awarded each year to the publication’s top car and truck of the year. Apparently, the Transportation Security Administration officials at the Detroit Metropolitan Airport see a weapon of mass destruction. Or something.

The proud engineers at Ford have been taking their well-deserved 2010 Ford Fusion Car of the Year award all over town, taking pictures and having a little fun, mimicking what athletes do when they win Lord Stanley’s Cup in hockey or the Lombardi Trophy in football. Ford Research & Advanced Engineering employee Tony Phillips went as far as Disney World with the award, but apparently not before coming to the attention of the TSA at Detroit Metro airport. Phillips had rightly brought the sizable trophy onto the plane as a carry-on – after all, who would want to tell Allan Mulally that they lost the trophy at baggage claim?

MT’s shiny hardware was eventually let on the plane after “some interesting discussion, and it made its way to Orlando to ride some rides and hang with Mickey. Surprisingly, the Orlando TSA agents were more familiar with Ford’s award than were the security agents in the Motor City, and congratulations were given to them on the accomplishment. Just as an FYI for Ford, you can bring by your trophy to Autoblog headquarters any time you wish. We won’t even frisk you at the door.

[Source: @Ford Online]

Ford employees take Motor Trend calipers to Disney World, hit TSA snag in Detroit originally appeared on Autoblog on Wed, 27 Jan 2010 18:29:00 EST. Please see our terms for use of feeds.

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Filed under: Ford, Lincoln, Mercury

You’d be forgiven for assuming Ford would be willing to let Mercury die a slow, drawn out death. In fact, it seems like that’s what’s taking place naturally, what with the stunning lack of interesting new product over the last few years decades. According to Ford head honcho Alan Mulally, though, that’s not the plan, at least for now.

Speaking at the Washington Auto Show, Mulally reportedly said, “That’s our plan – to continuously improve the Mercury and Lincoln brands,” reiterating twice that this is the plan “right now.” Some are taking this to mean that Mercury’s future may actually be up in the air, seeing the phrase “right now” as Mulally’s way of saying the plan could soon change.

In any case, Ford’s stated goal with the Mercury brand’s lineup continues to revolve around small, premium vehicles that aren’t necessarily available in nearly identical across the aisle in the Ford dealership. Whatever happens, we’re just hoping that Ford finds a place in its heart to keep Jill Wagner around as a spokesmodel.

[Source: Inside Line]

Mulally: Mercury’s star still shining bright… for now originally appeared on Autoblog on Wed, 27 Jan 2010 17:40:00 EST. Please see our terms for use of feeds.

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Filed under: Detroit Auto Show, Truck, Etc., Work, Ford, GM

Well this is just too bad. As you may recall, Pickuptrucks.com was chatting with Tom Stephens, GM’s vice chairman of global product operations, about GM’s new heavy duty pickup trucks. Suddenly Stephens said something quite interesting:

“You know what I want to do to prove it? I want to take our truck and Ford’s [new Super Duty] and chain them together back-to-back. Then I want to have them pull against each other. I know our truck will beat theirs.”

How cool would that have been? Supremely cool. However, Ford chooses to think different. Via twitter, Ford was asked by a Pickuptrucks.com reader if they’d accept the challenge. Ford said, “We typically don’t respond to challenges. We let the vehicles speak for themselves.” Ford ended their statement with this link illustrating that the Ford F Series has been America’s best selling vehicle for 33 years straight. As we used to say in 4th grade, “Oooh! Burned!”

Still, we would have really loved to watch a tug of war. Who would have won? Probably a Dodge. On a semi-related note, Pickuptrucks.com’s Mike Levine was bragging via Facebook about the Ford SVT Raptor he’s driving this week. We asked him if he would like to chain it to the 470-hp Jaguar XF Supercharged we’re driving this week and have ourselves a little tug of war. Levine’s response, “Only if we do it in mid-air.” Touché.

[Source: Pickuptrucks.com]

Ford turns down Heavy Duty tug of war challenge with GM originally appeared on Autoblog on Wed, 27 Jan 2010 16:20:00 EST. Please see our terms for use of feeds.

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