Ford Motor Co. said its chief financial officer, Bob Shanks, will retire in December, capping a 42-year career at the automaker.
The Dearborn, Michigan-based company on Thursday said that...
DETROIT (AP) — Ford Motor Co. is repackaging a previously announced $900 million manufacturing investment in the Detroit area, boosting the number of jobs added from 850 to 900.
Ford Motor Co. said Tuesday it will shift 550 jobs to its Kentucky Truck Plant to boost production of its Expedition and Lincoln Navigator vehicles to meet growing demand for its large...
Ford family member on foundation board for 1st time in years
DETROIT (AP) — A member of the Ford family is on the board of the New York City-based foundation that bears its name for the first time in more than four decades.
Ford begins probe into whether gas mileage was overstated
DETROIT (AP) — Ford Motor Co. has launched an investigation into whether it overstated gas mileage and understated emissions from a wide range of vehicles.
Group defends article on Henry Ford’s anti-Semitic views
DETROIT (AP) — A Detroit-area historical group is protesting a mayor's decision to stop it from sending out the latest issue of its publication, which delves into Ford Motor Co. founder Henry Ford's anti-Semitism.
Companies hope vests will ease burden for assembly workers
FLAT ROCK, Mich. (AP) — Ford Motor Co. and other manufacturers want to help their workers take a load off. Or at least make it easier to lift a load up.
Ford is among several companies providing wearable technology to elevate and support their workers' arms.
Nicholas Gotts wears an EksoVest during his shifts building Mustangs at the Flat Rock Assembly Plant in suburban Detroit. He says the exoskeleton makes his job "a whole lot easier and a lot less strenuous."
Ford posts quarterly loss amid struggles in Europe, China
DEARBORN, Mich. (AP) — Ford Motor Co., which has struggled overseas and saw U.S. sales fall last year, reported its first quarterly net loss in two years Wednesday.
The Dearborn, Michigan, company said it lost $116 million, or 3 cents a share, in the fourth quarter, compared with a $2.52 billion profit a year earlier. It last posted a quarterly loss in the fourth quarter of 2016.
The loss included an $877 million one-time charge to revalue global pension assets due to a late-year market slide.
Ford puts 2018 adjusted profit outlook below Street view
DEARBORN, Mich. (AP) — Ford is calling for 2018 adjusted earnings of $1.30 per share, slightly below Wall Street's view, because of challenges including higher commodity and warranty costs and a business decline in China.
Analysts predict earnings of $1.33 per share, according to FactSet.
Looking ahead, Ford Motor Co. Chief Financial Officer Bob Shanks said in a statement Wednesday that the automobile maker sees the potential for year-over-year improvement in revenue in 2019.
VW, Ford team up on pickups, explore deal on electrics
FRANKFURT, Germany (AP) — Volkswagen and Ford are forming a global alliance to develop commercial vans and medium-sized pickups together while exploring broader cooperation on future battery-powered and autonomous vehicles and services.
Volkswagen CEO Herbert Diess and Ford CEO Jim Hackett said Tuesday that the first jointly developed vehicles could hit the market as early as 2022 and that the linkup would offer efficiencies that would mean stronger profits starting in 2023.
Auto industry troubles buffet Ford, Jaguar Land Rover
FRANKFURT, Germany (AP) — The headwinds buffeting the global auto industry made themselves felt in Europe on Thursday as mass-market carmaker Ford and luxury-focused Jaguar Land Rover announced sweeping restructurings that will cost thousands of jobs.
Waning iPhone demand highlights Chinese consumer anxiety
BEIJING (AP) — Apple's $1,000 iPhone is a tough sell to consumers in China unnerved by an economic slump and the trade war with the U.S.
CEO Tim Cook said in a letter to shareholders Wednesday that demand for iPhones is waning and revenue for the last quarter of 2018 will fall well below projections, a decrease he traced mainly to China.
Tobacco giant strides into vape market with $13B Juul stake
Altria, one of the world's biggest tobacco companies, is spending nearly $13 billion to buy a huge stake in the vape company Juul as cigarette use continues to decline.
The Marlboro maker said Thursday that it will take a 35 percent share of Juul, putting the value of the company at $38 billion, larger than Ford Motor Co., Delta Air Lines or the retail giant Target.
Fiat Chrysler taps Amazon, Shell execs to fill roles
MILAN (AP) — Fiat Chrysler Automobiles is tapping executives from Amazon and Shell Oil Company with previous automotive industry experience to fill its ranks.
CEO Mike Manley said in a letter to employees Thursday that Mark Stewart would join FCA as chief operating officer of North America from Amazon, "a company known for its culture of innovation, and obsession with delivering incredible value to customers."
Michigan OKs incentives it says will create 4,500 jobs
LANSING, Mich. (AP) — A Michigan board has approved tax breaks and other incentives the state says will create more than 4,500 jobs, including 2,500 at Ford Motor Co. as part of the automaker's plan to renovate Detroit's train depot and redevelop nearby properties for researching and developing self-driving vehicles.
The Strategic Fund board Tuesday authorized putting the Corktown properties into a Renaissance Zone, meaning Ford won't pay $200 million-plus in property taxes over 30 years.
Chinese automaker Zotye plans to sell vehicles in US in 2020
BEIJING (AP) — Chinese automaker Zotye Auto said it plans to start selling vehicles in the United States in 2020.
Zotye said it will work with an American partner, HAAH Automotive Holdings. The companies said Wednesday the first model for the U.S. market will be an SUV but gave no details.
Children’s hospital gets grant to fight distracted driving
NASHVILLE, Tenn. (AP) — The Ford Motor Company Fund is giving a Nashville hospital $100,000 for its work teaching teens about distracted driving.
- Valley Morning StarTest drive a Ford for a good causeApril 6, 2019
- The Detroit NewsCarmakers sell more to rental fleets as retail slipsApril 4, 2019
- The Detroit NewsFord to cut more than 5,000 jobs in GermanyMarch 15, 2019
- The Detroit NewsFord fears double-hit from no-deal Brexit tariffsMarch 13, 2019
- The Daily JournalGilbert 'Swede' KellyFebruary 8, 2019
Correction: Ford-Scooters story
NEW YORK (AP) — In a story Nov. 8 about Ford buying electric scooter company Spin, The Associated Press reported erroneously the owner of Ford Go Bike. Motivate owns the bike share system, not Ford, which is a lead sponsor.
A corrected version of the story is below:
Ford buys electric scooter sharing company Spin
Ford Motor buys electric scooter sharing company Spin, expanding its presence in alternative forms of transportation
Ford’s 3Q net profit falls 37 percent on slowing sales
DEARBORN, Mich. (AP) — Ford Motor Co.'s net profit fell 37 percent in the third quarter as sales slowed in the U.S. and China.
But the company still made $991 million from July through September, or 25 cents per share. Revenue was up 3 percent to $37.67 billion.
Chief Financial Officer Bob Shanks reaffirmed the company's full-year guidance of making an adjusted $1.30 to $1.50 per share, and he said tariffs cost the company about $1 billion.
The Latest: Ford’s 3Q net profit drops 37 percent
DEARBORN, Mich. (AP) — The Latest on Ford's third quarter earnings (all times local):
Ford Motor Co.'s net profit fell 37 percent in the third quarter as sales slowed in the U.S. and China.
Ford revamps China business, hires former Chery exec as CEO
BEIJING (AP) — Ford Motor Co. has revamped its Asian operations and made its China business a stand-alone unit, recruiting the head of local automaker Chery Automobile to be its new CEO.
The company said Wednesday that industry veteran Chen Anning will replace Jason Luo, who quit earlier this year, just months after taking over at Ford in China.
Report: Uber IPO could put company value at $120 billion
NEW YORK (AP) — Uber may put forth an initial public offering early next year that values the ride-hailing business at as much as $120 billion, according to a media report.
The Wall Street Journal said Tuesday that Uber Technologies Inc. received valuation proposals from Goldman Sachs and Morgan Stanley. There is no guarantee Uber will fetch that valuation, or go public soon.
Microsoft and Starbucks rise; Wabash National slips
NEW YORK (AP) — Stocks that moved substantially or traded heavily Friday:
Citigroup Inc., up $1.46 to $69.84
The bank's third-quarter profit was higher than analysts had expected.
Starbucks Inc., up $1.59 to $56.45
The coffee chain announced an accelerated repurchase of $5 billion in stock.
Tesla Inc., up $6.55 to $258.78
The electric car maker said customers must order cars by Monday to get the full federal electric vehicle tax credit of $7,500.
Ford celebrates century of production at storied Rouge plant
DEARBORN, Mich. (AP) — Ford Motor Co.'s historic Rouge factory complex will continue well into its second century of production with the announcement Thursday that it will make at least one version of the next-generation F-150 pickup truck.
Executive Chairman Bill Ford announced at a celebration of 100 years of manufacturing at the Rouge that it will make a gas-electric hybrid version of the pickup.
Ford Motor told to pay Thai customers for transmission woes
BANGKOK (AP) — A Thai court has ordered Ford Motor Co. to pay 291 customers a total of about $720,000 in compensation for selling cars equipped with faulty transmissions.
The Bangkok South Civil Court's decision was welcomed Friday as a victory in a country where consumers rarely win redress.
Company turns Michigan Central Station graffiti into jewelry
DETROIT (AP) — Ford Motor Co. has commissioned a Detroit company to reuse graffiti paint flaking off the Michigan Central Station as the automaker prepares to renovate the long vacant train depot.
Ford selected jewelry design company Rebel Nell to create pieces from paint chips that have fallen from the station's walls. The project pays homage to the artists who've used the train station as a canvas since it closed in 1988, said Shawn Wilson, a Ford spokesman.
- Business WireFord Motor Company, Autonomic, and Amazon Web Services Collaborate to Advance Vehicle Connectivity and Mobility ExperiencesApril 23, 2019
- Business WireFord Motor Company, Autonomic, and Amazon Web Services Collaborate to Advance Vehicle Connectivity and Mobility ExperiencesApril 23, 2019
West Virginia editorial roundup
Recent editorials from West Virginia newspapers:
The Charleston Gazette on the effect of President Donald Trump's trade positions:
Late last week, Ford Motor Co. abandoned plans to build the Focus in China and import it to the United States, thanks to President Trump's new 25 percent tariff.
Pompeo to visit NKorea next week, names Ford exec as envoy
WASHINGTON (AP) — Secretary of State Mike Pompeo on Thursday appointed a senior executive with Ford Motor Co. to be his special envoy for North Korea and said the two would visit Pyongyang next week.
Ford to spend roughly $740M on Detroit redevelopment plans
DETROIT (AP) — Ford Motor Co. plans to spend roughly $740 million renovating Detroit's long vacant train depot and redeveloping other area properties for research and development of self-driving vehicles .
DEARBORN, Mich. (AP) — Ford will celebrate its iconic muscle car next year when it races the Mustang in NASCAR's top Cup Series.
The 2019 Mustang for NASCAR competition was unveiled Thursday at the Ford Motor Company World Headquarters. Stewart-Haas Racing co-owner Tony Stewart drove a Mustang onto a stage for the reveal with all 13 Ford Cup drivers were in attendance.
BOW, N.H. (AP) — Four pickup trucks full of peanut butter — nearly 4,500 pounds — have been collected to help support hungry children in New Hampshire.
The New Hampshire Food Bank and Ford Motor Company collected the jars as part of an annual peanut butter drive.
Ford started its national peanut butter drive in 2014 and has collected enough since then to spread on more than 2.5 million sandwiches.
DETROIT (AP) — Ford Motor Co. said Wednesday it is in the midst of a major restructuring of the company that will cost $7 billion in cash and hit pretax earnings by $11 billion over the next three to five years.
But the company, which also reported a 48 percent second-quarter net profit decline, gave few details on what exactly will be cut or changed, bringing criticism and frustration from Wall Street analysts.
NEW YORK (AP) — General Motors, facing rising commodity costs in a trade showdown with Europe and elsewhere, cut its outlook for the year.
The diminished expectations overshadowed a strong second quarter and shares tumbled more than 7 percent in early trading. The rest of the auto sector was dragged down as well on Wednesday. Ford Motor Co., which reports quarterly earnings later Wednesday, slid 4 percent. The S&P 500 Automobile Manufacturers index plunged 6 percent.
BOW, N.H. (AP) — A pickup truck full of peanut butter could help hungry New Hampshire kids get out of a jam this summer.
The New Hampshire Food Bank is hoping to collect enough jars of peanut butter to fill several Ford F-150 pickup trucks in the next four weeks as part of the national Ford Peanut Butter Drive.
Eileen Liponis, the food bank's director, says summer can be a difficult time for many children who rely on free and reduced-price meals served at schools.
DETROIT (AP) — Ford Motor Co. is celebrating its purchase of Detroit's long vacant train depot that the company plans to redevelop for research and development of self-driving vehicles.
DETROIT (AP) — The annual fireworks over the Detroit River is marking its 60th year of lighting up the skyline of Detroit and neighboring Windsor, Ontario.
The theme for the June 25 Ford Fireworks extravaganza is "Come Alive in the D!" The 24-minute show will feature more than 10,000 pyrotechnic effects visible for miles along the Detroit River. It's produced by The Parade Co. and Dearborn-based Ford Motor Co. has been the title sponsor since 2013.
DETROIT (AP) — The Latest on the planned redevelopment of Detroit's old train station (all times local):
Owners of Detroit's vacant, hulking 105-year-old Michigan Central Station say they've sold the iconic symbol of Detroit's fall from greatness to Ford Motor Co. for redevelopment.
DETROIT (AP) — A global engineering consulting firm is relocating its North American headquarters from the suburbs into Detroit.
Tata Technologies will bring about 150 jobs early next year from Novi, northwest of Detroit, to TechTown near Wayne State University.
Chief Executive Warren Harris said Friday that TechTown's proximity to leading automotive, mobility and tech companies was one reason for the move. The company has 8,500 employees in offices around the world.
Ford looks to snap 16-year Coca-Cola 600 drought
CONCORD, N.C. (AP) — It's been 16 years since Mark Martin won the Coca-Cola 600, and a Ford driver has not been to victory lane for the marquee event since. A Ford driver hasn't hoisted a Cup championship trophy since 2004, either.
There have been some highlights during this past decade of mediocrity, but coming up empty every year in the chase for NASCAR's biggest prize got very tiring to the Ford group.
DETROIT (AP) — A car that once was America's top-seller is about to die — for a second time.
Ford Taurus, may you rest in peace at the salvage yard.
Blame the full-size sedan's slow demise on the national obsession with SUVs and Ford Motor Co.'s need to slash costs and remake itself for a new era of self-driving cars and shuttles.
NEW YORK (AP) — Stocks that moved substantially or traded heavily Thursday:
Facebook Inc., up $14.47 to $174.16
The social media company had a strong first quarter as its data privacy scandal didn't appear to hurt its business.
Ford Motor Co., up 32 cents to $11.43
The automaker said it will stop selling most if its car lines in North American to cut costs.
Chipotle Mexican Grill Inc., up $82.98 to $422.50
The Mexican food chain had a better-than-expected first quarter and said its sales improved.
CANBERRA, Australia (AP) — Ford Motor Co.'s Australian subsidiary has been fined 10 million Australian dollars ($7.6 million) for mishandling customer complaints about faulty automatic transmissions in thousands of cars.
The fine in the Federal Court on Thursday equals the largest penalty ever for a breach of Australian Consumer Law, matching that imposed on the Coles supermarket chain in 2014 for misconduct toward suppliers.
Ford promises more savings as 1Q earnings rise 9 percent
DEARBORN, Mich. (AP) — Ford Motor Co. said Wednesday it will shed most of its North American car lineup as part of broad plan to save money and make the company more competitive in a fast-changing marketplace.
The changes include getting rid of all cars in the region during the next four years except for the Mustang sports car and a compact Focus crossover vehicle, CEO Jim Hackett said as the company released first-quarter earnings.
DETROIT (AP) — Teams from Central Michigan University, the University of Michigan-Flint, and Morehouse and Spelman colleges will compete in a debate hosted by the UAW-Ford in Detroit.
The two-round "Debate in the D" is scheduled to start at 10:30 a.m. Friday at Detroit Preparatory High School at Northwestern.
In its never-ending quest to keep the F-150 America's best-selling pickup, Ford Motor Co. has a new idea: diesel fuel.
The Blue Oval company says its new 3.0-liter Power Stroke diesel engine — the first diesel for the F-150 — delivers best-in-class EPA-estimated fuel economy to its most popular vehicle. And that could make the so-called 2018 "pickup wars" even more competitive.
Ford Motor Co. is officially launching its non-emergency medical shuttle service with the Beaumont Health network.
This on-demand transportation service, dubbed GoRide, covers more than 200 facilities in Southeast Michigan. It started as a pilot in late 2017 with five Ford Transit Wagon vans.
Local car dealership Bradley Ford Lincoln this year became one of only three Ford and Lincoln automobile dealerships in the country to win a prestigious award from the Ford Motor Company.
According to dealership owner Mike Bradley, only a handful of dealers are awarded the Ford President’s Award as an Elite Lincoln Dealer. The award is given in recognition of customer satisfaction and outstanding customer relations in sales and service.
Two years ago, it was the new Toyota Camry. Then it was the new Chevy Camaro this season.
Now it's Ford's turn to debut a new model for the NASCAR Cup Series.
Ford announced Tuesday that the Mustang will be the manufacturer's new body for the 2019 Cup season. It will be the first time the Mustang races in the Cup Series, as Ford's three prior bodies were the Thunderbird, the Taurus and currently the Fusion.