Thu, 12/02/2010 - 10:12 by Prince damin
Detroit -- U.S. automakers reported a sharp rise in sales in November compared to a year ago with Ford Motor Co. leading the pack with a gain of 20 percent.
General Motors Co. said sales rose 11.4 percent compared to November a year ago. It's numbers were skewed, however, with comparison to a company that was struggling a year ago with Pontiac, Saturn and Hummer brands, which were wound down and Saab, which it sold this year.
Excluding the four brands it no longer operates, sales at GM rose 21 percent, The New York Times reported Wednesday.
Sales at Chrysler LLC also jumped, rising 16.7 percent.
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Thu, 08/26/2010 - 03:55 by Prince damin
Detroit -- Closing out production of Ford Motor Co.'s Crown Victoria police cruiser leaves a niche U.S. market open for rivals, an industry adviser said.
Brian Moran, a former member of the Los Angeles County Sheriff's Department who has worked with Ford and Chrysler, said, "I think that the market share looks appealing to all three manufacturers," referring to Ford, Chrysler and General Motors.
Chrysler said its ambitions are to bump its share of the police car market from 18 percent to 40 percent, the Detroit Free Press reported Wednesday.
This week, Chrysler released photos of its Dodge Charger-based police car option, the Dodge Charger Pursuit.
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Sat, 08/07/2010 - 22:24 by Prince damin
Dearborn, Mich. -- Ford Motor Co. Executive Chairman Bill Ford sold 3.4 million shares of common stock and options in the company for about $28 million, filings show.
Ford also collected his first salary in five years after honoring his pledge not to do so before the company rebounded and returned to profitability, The Wall Street Journal reported Saturday.
The automaker's comeback paid off handsomely for the great-grandson of founder Henry Ford. He is to be paid $4 million in salary and $11 million to $12 million in stock options accrued since 2008.
When the chairman made his pledge in 2008, the company's board decided his salary would be deferred.
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Wed, 08/04/2010 - 02:03 by Prince damin
Detroit -- U.S. sales rose at both Ford Motor Co. and General Motors Corp. in July, an industry research group said in a preliminary report.
Autodata said GM sales rose 6.4 percent in the month compared to July 2009 with total U.S. vehicle sales of 199,602. Ford sold 170,208 cars and light trucks in July, a 3.3 percent increase over July 2009.
For the year-to-date, GM sales are up 13 percent, while Ford sales are up 22.8 percent compared to 2009.
Chrysler LLC, Mitsubishi Motors N.A. Inc. and American Honda Motor Co., did not provide figures for the report.
The report said sales at Toyota Motor Sales U.S.A. were down 3.2 percent on the month, but up 7.5 percent for the year-to-date.
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Mon, 07/26/2010 - 23:08 by Prince damin
Dearborn, Mich. -- Ford Motor Co., launching its 2011 Explorer, said Monday the sport utility vehicle has luxury features that challenge "the SUV status quo."
Ford introduced the vehicle in a number of cities, holding events in Dearborn, Mich., Washington, Dallas, Chicago and elsewhere, The Detroit News reported.
The vehicle "challenges the SUV status quo by offering luxury levels of convenience, connectivity and technology," Ford said in a news release.
"Today's SUV customers really aren't interested in compromising," said Amy Marentic, group marketing manager. "They want luxury, convenience and technology with their all-road capability."
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Sat, 07/10/2010 - 00:39 by Pankaj Damin
Washington -- The U.S. National Highway Traffic Safety Administration announced recalls of Ford Motor Co. Transit Connect vans and four Chrysler vehicles Friday.
Ford is halting sales and recalling 33,728 sold vans due to a failure to meet federal standards on roof strength, relating specifically to the headliner retention pushpin which is situated above the B-pillar on both sides of the vehicle.
The recall involves vans made between December 5, 2008, and May 31, 2010. Consumers were advised to call 866-436-7332 for information.
The NHTSA said Chrysler would recall Dodge Nitro, Dodge Ram, Jeep Liberty and Jeep Wrangler vehicles to either service or replace a foundation component to the master brake cylinder.
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Thu, 07/01/2010 - 01:47 by Pankaj Damin
Dearborn, Mich. -- U.S. auto giant Ford Motor Co. said Wednesday it would reduce its debt by more than $4 billion including $3.8 billion going to a union healthcare plan.
In the second quarter the company reduced its debt by more than $7 billion, the automaker said in a statement.
Wednesday's payment pays down Notes A and B of debt owed to the United Auto Workers Union Retiree Medical Benefits Trust, including $250 million due on Note A and $610 million due on Note B.
The company noted it had the option of paying Note B with stock but chose to pay all in cash, which gives it a discount.
Ford, along with its financial subsidiary Ford Motor Credit Co., is also paying $2.9 billion to conclude its obligation to Note A, the company said in a statement.
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Sat, 03/13/2010 - 10:29 by Pankaj Damin
Dearnodn, Mich. -- Ford Motor Co. gave U.S. law enforcement officials a look Friday at the Taurus-based police car the company will use to replace the Crown Victoria cruiser.
The Crown Victoria model has become a police department standard, accounting for 75 percent of the police car market with annual sales of around 45,000, the Detroit Free Press reported.
But Ford is phasing out the Crown Victoria Police Interceptor in 2011.
Ford Americas President Mark Fields called the Taurus-based car "the ultimate police vehicle."
The Detroit News said Ford was offering the car with a standard V-6 engine or an "EcoBoost" engine. The fuel efficiency in the Taurus models would be 25 percent better than the Crown Victoria, which made its debut in the early 1980s.
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Thu, 02/11/2010 - 11:45 by Rakhi Kaptiyal
Chicago -- Ford Motor Co. showed off its Transit Connect Electric light-duty commercial van and a mid-cycle freshened Ford Edge crossover in Chicago Wednesday.
The newest version of the compact Transit Connect unveiled in advance of the 102nd Chicago Auto Show, is powered by a high-voltage, 55-kilowatt electric motor and 28-kilowatt, lithium-ion battery that can be recharged by plugging into a household 120-volt outlet for 12 hours -- or a 240-volt outlet for six hours. The commercial van can travel 80 miles on a single charge and hit a top speed of 75 miles per hour.
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Sat, 02/06/2010 - 09:23 by Rakhi Kaptiyal
Chennai, India -- Ford Motor Co. said Friday that its first small Figo hatchback had rolled off the production line in India, where the automobile market is dominated by Suzuki.
About 70 percent of new car sales in India are in the small car category, the Detroit Free Press reported.
Ford has spent half a billion dollars on an assembly line in Chennai, India, to produce 200,000 Figo vehicles a year. Raj Mair, vice president of Ford operations in India said, "We're confident that the new Ford Figo will be extremely attractive to Indian buyers. This car is set to transform Ford from a niche player in India to (the maker of a) vehicle for the masses."
Copyright 2010 United Press International, Inc. (UPI).
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Mon, 01/11/2010 - 22:41 by Inderjit Singh
Detroit -- Ford Motor Co. said Monday it would assign production of a new hybrid and an electric car to the Michigan Assembly plant, where the Ford Focus is built.
The production line for the plant in Wayne, Mich., is scheduled to include a plug-in Focus, with production beginning in 2011, the Detroit Free Press reported.
Ford Chairman Bill Ford Jr. announced the new plans at the North American International Auto Show in Detroit.
In addition, Ford can use the same platform at other factories to produce 10 different vehicles, the newspaper said.
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Wed, 12/09/2009 - 11:33 by shalini.bahadur
Dearborn, Mich. -- Ford Motor Co.'s president for Asia Pacific and Africa Joe Hinrichs said he has not fielded offers from General Motors for its open top executive slot.
GM's recent executive shake up left the chief executive officer job open with the abrupt retirement of Fritz Henderson, who was replaced on an interim basis by Chairman Ed Whitacre Jr.
GM also moved younger executives up the chain of command, which doesn't rule out Hinrichs, who is 42.
Hinrichs, who used to work at GM, is frequently mentioned as a successor to Ford CEO Alan Mulally, the Detroit Free Press reported Tuesday. However, with the CEO slot open at GM, "I have not had any inquires from General Motors," Hinrichs told the newspaper. "I'm happy at Ford," he said.
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