October 27, 2020

    Daily Auto News, Luxury Cars, Photos, Prices, Spy Shots, Videos, Incidents and more
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    Ford to build more Lincolns for Chinese market regionally

    Ford Motor prepares to start production of new luxury Lincoln models in China for that sector as they are launched, beginning with the new Corsair later this year, to take advantage of lower costs and avoid the risk of tariffs, a top executive stated on Monday. “It’s a huge, huge opportunity for Lincoln because we […]

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    Tim Stone

    Amazon veteran Tim Stone named as Ford CFO

    Ford Motor on Thursday named Amazon.com veteran Tim Stone as chief financial officer (CFO), the automaker’s first external hire for the role in more than 70 years. Stone, 52, replaces Bob Shanks, who is going to retire at the end of 2019 after working in the company for 42 years. Stone held different financial roles […]

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    Ford CFO Bob Shanks plans to retire

    Ford CFO to retire by the end of the year Ford Motor CFO Bob Shanks prepares to retire and is expected to stay through the end of the year, CNBC reported on Thursday, mentioning sources. A new finance chief would be possibly announced in the second half of 2019, CNBC stated. Shanks became the chief […]

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    Ford CEO tells employees to focus on doubling profit

    Ford Motor CEO Jim Hackett told employees late on Thursday the No. 2 U.S. automaker would not accept last year’s “mediocre” results and said the company was aiming to nearly double its annual operating profit. Hackett made his comments in an email to employees that was seen by Reuters. Ford is restructuring its worldwide operations, […]

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    Ford third-quarter profit beats estimates, shares boosts

    Ford Motor on Wednesday reported little bit higher than expected third-quarter profit and stuck to its targets for 2018, raising investor hopes for a solid fourth quarter and sending its shares about as much as 7 percent after-hours. Profit was down as high commodity costs and a China sales tumbled partially offset strong demand for […]

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    Ford says turnaround to take years as results fell short for 2017 and 2018

    Ford Motor last week estimated financial outcomes for 2017 and 2018 that fell short of investor expectations, in a downbeat projection that contrasted with a more favorable outlook from competing automaker General Motors. Ford Chief Financial Officer Bob Shanks informed experts at an investor conference in Detroit that greater expenses for steel, aluminum and other […]

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    Greater investments, sales fall to weigh on Ford first-quarter earnings

    Ford Motor stated on Thursday it expects reduced profits per share in the first quarter and reduced pretax profit in 2017 because of higher costs on commodities, warranties and investments and a fall in sales volumes specifically fleet sales. Ford shares were low almost 1 percent at $11.66 in morning trading after the announcement, which […]

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    Ford reports lower profits, takes hit from pensions, canceling Mexico plant

    Ford Motor on Thursday reported a fourth-quarter loss, mentioning an accounting change to pensions and expenses for canceling a factory in Mexico, which President Donald Trump had targeted on his way to the White House. Ford likewise reaffirmed its projection that 2017 profits would be lower, which contrasted with more positive forecasts from Detroit competitors […]

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    Donald Trump

    Ford CFO praises ‘pro-growth’ policies of Trump despite clashes

    Ford hopes Trump’s administration will think about relieving greenhouse gas policies and fuel economy policies scheduled to work in between 2020 and 2025 in addition to corporate tax reform. Ford Chief Financial Officer Bob Shanks likes a number of the pro-growth, pro-business authorities that Donald Trump’s inbound administration wishes to pursue although the president-elect has […]

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