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Automakers make up 10% of Forbes list of 100 largest companies
Posted by: | CommentsFiled under: BMW, Ford, GM, Honda, Hyundai, Mercedes-Benz, Mitsubishi, Nissan, Toyota, Volkswagen
Forbes has measured the largest 100 companies in the world, and 10 automakers have made the list. This list is unique in that it measures the size of a company using a combination of sales, assets, profits and market value.
Volkswagen was rated as the top automaker in the top 100 (number 17 overall), with sales of $221 billion and $21.5 billion in profit. Toyota finished a close second, ranked number 25 overall with sales of $228.5 billion. Daimler finished at 37 due in part to $188.7 billion in assets and a $66.3 billion market cap. Ford came in at 44 with a market value of $47.5 billion. Honda, which also sells motorcycles and generators, among other things, rounds out the top five with $137.7 billion in assets.
Finishing outside of the top five were BMW (61), General Motors (63), Nissan (85), Mitsubishi (95) and Hyundai (96). Mitsubishi made the top 100 in part because it sells hoards of electronics around the world.
No automakers were able to crack the top 10, even with massive sales volume and solid profits. The top 10 was, however, dominated by the oil companies that feed those cars and trucks. Exxon finished number one, with five other oil companies in the top 12.
Automakers make up 10% of Forbes list of 100 largest companies originally appeared on Autoblog on Thu, 19 Apr 2012 16:58:00 EST. Please see our terms for use of feeds.
Ford says it already has 8,000 orders for new Escape
Posted by: | CommentsFiled under: Car Buying, Crossover, Ford
The 2013 Escape will soon arrive in dealerships, and it appears Ford has quite a few excited buyers waiting in the wings. The Detroit Free Press reports that Ford already has about 8,000 pre-sales in-hand before buyers have even had the chance to drive the handsome crossover.
That’s good news for Ford for obvious reasons, but the new Escape is going to need all the sales it can muster. That’s because the current Escape, which dates all the way back to 2001, has been one of the most consistently hot-selling Ford vehicles ever made. For reference, Ford managed to sell 22,679 units in March – enough to make those 8,000 pre-sales seem like the first few drops in a very large, very important bucket. In fact, in 2012, the outgoing Escape is already ahead of its 2011 sales pace by nearly 3,000 units.
At this point, it’s difficult to project whether the new Escape will be able to surpass sales of the outgoing model, but we are pretty sure Ford will achieve higher transaction prices. The departing CUV features a hoard of cash incentives, but the new model features pricey options and a top-of-the-line Titanium trim model that can crest $37,000 with options. Speaking of pricing, Ford has finalized the numbers and options on its Escape configurator since we first told you about it in January, and you can check it out here.
Ford says it already has 8,000 orders for new Escape originally appeared on Autoblog on Mon, 16 Apr 2012 10:33:00 EST. Please see our terms for use of feeds.
Ford recalls 140,000 new Focus models over wiper concern
Posted by: | CommentsFiled under: Government/Legal, Recalls, Safety, Ford
The National Highway Traffic Safety Association has announced on its website that Ford is recalling 140,000 Focus models built between August 1, 2010 and October 18, 2011. The defect in question is a seal in the wiring harness connector to the passenger side wiper motor that may be missing.
If the seal is AWOL, water can build up in the connector, which could over time render the passenger-side wiper useless. And if that happens, visibility could of course be altered, resulting in a higher probability of a crash.
To fix the issue, affected Focus owners need to take their vehicles to a Ford dealer for a free inspection of the wiper connector. A technician will clean and seal any connector that needs it, and any wiper motor that no longer works will be replaced free of charge. Hit the jump to read over the NHTSA press release.
Continue reading Ford recalls 140,000 new Focus models over wiper concern
Ford recalls 140,000 new Focus models over wiper concern originally appeared on Autoblog on Sun, 08 Apr 2012 12:01:00 EST. Please see our terms for use of feeds.
Ford defends ballooning fleet sales
Posted by: | CommentsFiled under: SUV, Truck, Government/Legal, Crossover, Ford
“Fleet” is sort of a dirty word when describing vehicle sales, and the Detroit Three have traditionally been quite smitten with bulk buyers. Unfortunately fleet sales have been demonized for a reason. They can adversely affect resale values, and since fleet buyers tend to expect warehouse store pricing, they’re obviously not great for the bottom line, either. But one automaker seems more than happy to sell to fleets: Ford.
Bloomberg reports that a larger percentage of Ford’s overall sales are going to fleets, rising from 22 percent of in 2006 to 27 percent in 2011. Of those vehicles, 41 percent reportedly went to the likes of Hertz and Enterprise. That leaves the rest of the sales at the local, state and federal level, plus a smattering of commercial buyers. In other words, needy customers with cash in hand. And those buyers tend to want high-margin rides like trucks, crossovers and SUVs; vehicles Ford make money on.
Ford fleet director Kevin Koswick tells Bloomberg that the automaker knows what it’s doing, adding “I don’t see it as an issue as long as you manage your fleet and you’re balanced in what you do.”
Ford defends ballooning fleet sales originally appeared on Autoblog on Sat, 31 Mar 2012 16:03:00 EST. Please see our terms for use of feeds.