Ford posted an $8.7 billion loss for the second quarter of 2008 that it claims is due to sagging sales in North America and one time charges associated with plant closings. The Blue Oval's brutal second quarter included revenues that were down $5.6B to $38.6B and losses from continuing operations that totaled $1.4 billion. Virtually all the bad news came from North America, as Europe posted a $582m profit, and South America ended the quarter in the black as well. Ford also wrote down $8B in special charges related to its restructuring.
The bigger news came in the form of sweeping changes to Ford's lineup that will begin with switching three truck and SUV plants to car production beginning in December. The Cuautitlan, Mexico; Louisville, KY; and Michigan Truck Plant will all be converted to produce small cars. Cuautitlan will build the Fiesta, and the other two plants will build vehicles based on Ford's next gen C architecture based on the Euro Focus. Below are the main changes Ford announced for 2009 and beyond, and the list is pretty substantial. Note a new car for Mercury, which should deflect rumors that Ford's middle child is getting kicked out of the house. We'll give you more information as we receive it.
Convert the entire Ford, Lincoln and Mercury lineup by 2010
Delay closing Ford Ranger plant from 2009 to 2011
Double hybrid production for 2009
Add European Transit Connect small van to North America in 2009
Add a new Lincoln seven-passenger crossover in 2009
Introduce a new small Mercury for 2010
Add European Ford Fiesta sedan and hatchback in early 2010.
Bring next gen Euro Focus sedan and hatchback in 2010.
Build unibody Ford Explorer in 2010 with fuel savings of 25%
Click above for a hi-res gallery of the Mustang AV8R
The Ford Mustang AV8R is a one-off, aviation-themed Mustang that's been modified with a suite of upgrades from Ford Racing, including the Handling Pack, a Whipple blower, cold air intake, and a new exhaust. Power from the 4.6L V8 subsequently jumps to 400 horses, and the car is further individualized with a custom exterior and interior. Outside, its Satin Silver finish is offset by a black hood and decklid, red accent lines, dark gray side stripes, an Air Force star on each front quarter panel, and an oversized, etched AF star on the glass roof. The faux gas cap on the trunklid also gets a white star motif, and the rear spoiler is black with a red stripe and the AV8R logo in the corner. The front and rear bumpers are swiped from the California Special, while the grille is the same one used on the Bullitt, only with red trim instead of a metallic finish on the lower lip. It's a very sharp-looking car.
Inside, the two-tone leather seats have embroidered AV8R logos, and their brown inserts are reminiscent of an old bomber jacket. Brown hide also adorns the shifter boot. In the video after the jump, we also learn that the interior trim appliqués are pre-production Bullitt units. The car will be auctioned off to benefit the Gathering of Eagles program, which is encourages young people to get involved in aviation.Back in 2006, the first Shelby GT-H brought $250,000 at an auction benefiting the same organization. If you want a shot at the AV8R, you'll need to get yourself out to Oshkosh this weekend. If you're feeling confident, just book a one-way flight. Maybe you'll be able to drive home.
Click above for a high-res gallery of the 2010 Ford Mustang at Road America.
You read that right folks. The 2010 Ford Mustang will make its official debut at the LA Auto Show on November 19th. According to a source speaking with InsideLine, the new 'Stang won't be shown in Detroit as originally rumored, conceivably as a response to the Camaro hype-machine we've had to endure over the last two weeks.
When the wraps are pulled off the 2010 Mustang, expect all-new front and rear fascias, including a new grille, headlamps and taillights, along with a tweaked hood and a few cues rumored to be pulled of the Guigiaro Mustang concept.
Speculation about powertrains has been running rampant for months, but a reworked V8 and V6 is part of the package, and possibly a new turbocharged, EcoBoost bent-six further down the line. Sales will begin late early next year.
When we see things like this, we feel like Bruce Banner... having to contain our anger... at not getting... the Euro Focus. But hopefully tomorrow our fortunes will change, and if they do, here' s a look at the Focus we could get in 2011.
We were happy enough about the second-gen Focus, and this is even better. With a massive front maw, revised panels throughout, and a well executed sportback rear, the Focus Mk. 3 is, as the English would say, a bit of all right. The highlight show continues inside with better materials and an HMI-like control system. The UK will get the car later this year.
Although this Focus isn't slated (yet) for an RS version, it will put on an ST badge and mods at some point, and will come in three-, four-, and five-door variants, plus a wagon and a convertible. And if you're in Spain, you'll get a special edition diesel Focus WRC-S, with a 2.0-liter four-cylinder pumping 134 bhp. Each one of 666 samples will be signed by Ford WRC driver Marcus Gronholm. Prices have not been announced for any of the new Focus models.
After nearly eight years of getting little or no attention from the White House, it seems as though Detroit's automakers will be a major focus the 2008 Election. With the economy looking worse by the day, lawmakers in Washington have been kicking around the idea of a second economic stimulus package to get people shopping again, and Mowtown's lawmakers want in on the money. Michigan's two Democratic senators are attempting to use the prospect of such a bill to include federally-backed loans to help automakers and suppliers build new factories and engineer new models. The $4B would be used to offset the costs associated with the Treasury Department giving automakers $25B in loans at a discounted rate. Automakers have been against such a loan in the past, but with worsening conditions and tighter lending practices the idea is likely to sound much more exciting this time around.
Presumed Democratic Presidential candidate Barack Obama told the UAW in a letter that he supports the $4B in federal aid, stating that he would "provide real solutions necessary to help this industry compete and win in the global economy." Obama also promised tax breaks for consumers that purchase ultra fuel efficient vehicles and tax credits for automakers as well. Presumed Republican nominee John McCain opposes the idea of federally backed loans, but he does support tax breaks to those that purchase fuel efficient vehicles and a $300M in prize money for electric battery powered vehicles
Mercury has been languishing over the last several years with badged-engineered products barely distinguishable from their Ford brethren. As the market shifts towards smaller cars with higher fuel efficiency, there may be a golden opportunity for the Mercury brand to actually prove its worth as Ford's outlet for European-designed vehicles for the American market. In a move akin to what General Motors has done with Saturn, importing Opels to the U.S. in an attempt to revive the marque, Ford could bring its highly-desirable Euro-only models to the States badged as Mercurys.
According to unnamed sources, the New York Times is suggesting that Ford will begin manufacturing six Euro-spec models right here in America at plants formerly used to produce F-Series trucks, SUVs and vans. We'll have to wait until this Thursday before any official announcements are made by the Blue Oval, but that gives us some time to speculate on which Kinetic-infused products are on their way. That's what the comments are for -- have at.
Ford is hoping to continue the reduction of both the number of vehicles the automaker will produce and, correspondingly, its hourly blue-collar workforce. In order to make good with the UAW, the same buyout packages available last year are being extended to these unionized workers. The packages have not changed since they were offered to Ford employees in Kentucky in June of 2007. These latest buyout announcements involve workers from plants in either Michigan or Ohio, a further blow to the already weakened economies in these two auto-heavy states.
Earlier this year, Ford said it was hoping for another 9,000 hourly workers to take buyouts. Between 2006 and 2007, a total of 33,600 union workers accepted either buyout packages or early retirement packages, a huge percentage of Ford's total employees. At this rate, we wonder how many UAW workers Ford will have left after it's all said and done.
We wrote about it earlier, just as a rumor, but it looks like an announcement is imminent: the Wall Street Journal says that Ford is going to make European cars on this side of the pond. However, it isn't merely North American plants that will be changed over, but American plants. The Journal doesn't give any further indication of where those plants might be or what those cars might be, only saying that the strategy could be revealed during Ford's Q2 earnings announcement this Thursday. But we'll say again: come on, Mondeo! (And Focus and Focus Coupe and Ka and...)
In the wake of GM's Tuesday press conference detailing its plans to have enough cash on hand through 2009, politicians have been eager to voice their thoughts regarding the possibility of a government bailout. President Bush gave the possibility a strong no, but the two guys in line for his job have taken a different route.
Senator Obama has said that he supports automaker's attempts to restructure without outside help, but says he's willing to work with the companies on fuel saving tech. Republican Senator John McCain took an even stronger pro-automaker stance, saying "if it looks like it is approaching that, everyone has to consider every option." The Arizona Senator and presumed Republican nominee has stated in the past that he wouldn't support a buyout, but would instead provide tax breaks and infrastructure support to create more fuel efficient vehicles. McCain's "every option" comment may not sit well with his party, but it could sound good to Detroit automakers. McCain is visiting the GM tech center today. Both presidential candidates are working hard to woo Michigan voters, which will be a key state to win in the November election. Even though GM has stated it isn't looking for a handout, Michigan residents would love to know that the automaker would get one if it really needed it.
Click the image above for more high res photos of the 2009 Ford Flex
When the Ford Fairlane concept bowed in Detroit in 2005, it proved that Ford could design a stylish crossover recognizable from a mile away. Unfortunately, Ford didn't exactly have a stellar record of bringing hot concepts to market, so expectations were low that we would ever see the Fairlane reach production. Fast forward to 2008, and the Ford Flex is born. It's bigger than the Fairlane, yet it looks very much like the outlandish wagon that we saw in Motor City a few years earlier. Does the Ford Flex have the style, capability and appointments to be a player in the suddenly crowded large CUV market? Or is this modern day Woody just another oversized people hauler that misses the mark? Hit the jump to see how the all-new Flex fared during its stay in the Autoblog Garage.
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