JP Morgan and Ford cancel plans to attend Saudi investor event
JP Morgan & Chase Chief Executive Jamie Dimon and Ford Motor Chairman Bill Ford dropped plans to attend a Saudi investor conference, the companies stated on Sunday, the recent such high-profile announcements following the disappearance of Saudi journalist Jamal Khashoggi. The cancellations could increase pressure on other U.S. companies such as Goldman Sachs Group Inc,
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Ford switches electric vans in Germany as diesel bans loom
Ford Motor is constructing an electric delivery van in Europe using technology given by Deutsche Post startup StreetScooter, as Germany clamp down on diesel emissions. In the recent move, a German court on Tuesday ordered Berlin to enforce driving bans on older diesel vehicles to curb pollution and conform to European Union standards. “Manufacturing the
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Ford selects BBDO as lead creative agency in blow to UK’s WPP
Ford has selected Omnicom’s BBDO as its lead creative advertising agency in a blow to its partner of 75 years, WPP. The British group, the world’s largest advertising company, is on their way to rebuild after the sudden departure of its founder Martin Sorrell previously this year. New boss Mark Read is preparing fresh investment
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Ford to stop making Focus cars in Argentina in next year
Ford Motor stated on Monday it has strategies to stop building its Focus compact cars in Argentina in May 2019 as it looks to recover from losses from its operations in South America. Ford stated it will keep building Ranger compact pickups at its Pacheco plant located in Argentina, which employs about 3,440 people. A
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Ford feels encouraged by new trade pact
Ford Motor stated on Monday it feels “very encouraged” by an announcement of a revised free trade deal reached late Sunday between the United States, Canada and Mexico — an agreement that is probably going to remove significant uncertainty from automakers who feared a collapse of trading regulations. “We stand ready to be a collaborative
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Trump metals tariffs to cost Ford $1 billion in profits, says Ford CEO
Steel and aluminum tariffs imposed by the Trump administration have cost Ford Motor about $1 billion in profits, its chief executive officer stated on Wednesday, where as Honda Motor stated higher steel costs have brought “hundreds of millions of dollars” in recent costs. “From Ford’s perspective the metals tariffs took about $1 billion in profit
Ford extends talks with Volkswagen and Mahindra to cut expenses
With its stock trading close to a 6-year low late last month, Ford Motor CEO Jim Hackett gathered the automaker’s top 300 executives close to its headquarters located in Michigan for a global leadership meeting. Hackett’s message: Ford should put in motion plans to restructure its business now in order to secure promised expenses savings,
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French minister Bruno Le Maire optimistic over buyer for Ford Blanquefort plant
French Economy minister Bruno Le Maire stated on Friday that discussions with Belgian transmissions provider Punch Powerglide regarding the purchase of Ford’s Blanquefort gearbox plant in southwestern France should be concluded in October. In June, the U.S. automaker had stated it would shut the plant if no purchaser could be found for the site, that
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Ford recalls two million trucks due to seat belt fire risk
Ford Motor stated on Thursday it is going to recall 2 million F-150 pickup trucks in North America due to a seat belt problem that could generate a lot of sparks and cause fires. The U.S. automaker stated it is aware of 17 reports of smoke or fire in the United States and six in
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Ford Motor plans cut car models as part of restructuring
Ford Motor prepares to drop production of some of its vehicle models as part of a planned operational restructuring declared earlier this year, sources informed The Times. The British newspaper reported that Ford prepared to end production of Mondeo, Galaxy and S-Max models and focus on more lucrative sport utility vehicles. Ford further prepares to
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Ford is no longer planning to sell Chinese-made vehicle in the United States
Ford Motor has abruptly ended a plan to sell a Chinese-made small vehicle in the United States due to the prospect of higher U.S. tariffs, the head of the automaker’s North American operations stated Friday. The automaker’s decision follows the U.S. President Donald Trump’s escalation of a trade battle with China, cautioning to impose duties
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Ford reveals $740 million investment in Detroit train station, city development project
Ford Motor revealed Tuesday it will invest $740 million on a project to reinnovate Michigan Central Station, Detroit’s historic but dilapidated former rail station, along with other neighborhood sites. Ford aims to transform the building into a campus of offices for about 5,000 tech workers and software engineers concentrated on self-driving vehicles and ancillary technologies
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3,968 Ford cars recalled over clutch pressure plate issue
Russia’s standards agency stated on Tuesday it had been told about the recall of 3,968 Ford cars sold from 2011 and 2016. The cars, consisting of the Focus, C-Max, Mondeo and Kuga models were recalled due to a possible issue with the clutch pressure plates, the agency stated.
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New Ford SUV revealed, Territory to go on sale in China next year
Ford continues to struggle to gain the sales numbers it had hoped for in China. However the Blue Oval has come up with a strategy to introduce as much as 50 new models in the country from now and 2025. One of the first will be the new budget friendly Ford Territory crossover. The plan
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Ford plans to introduce a small utility vehicle
Ford Motor prepares to introduce a small utility vehicle based on its compact Focus sedan, with more rough offroad styling cues compared to the Escape, a top executive stated on Wednesday. The new model, that will share parts with the Focus and Escape, will showcase “offroad positioning and imagery” and will carry a premium cost,
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