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Company veterans promoted to set a course for the future of Ford

Ford on Wednesday named two company veterans to lead its auto and mobility businesses as the No. 2 U.S. automaker shifts its focus to autonomous vehicles and realigns its automobile portfolio. Joe Hinrichs was named president of Ford's automotive unit, and Jim Farley will be president, new businesses, technology and strategy, effective May 1. Both will report to Chief Executive Officer Jim Hackett. Hinrichs' goal will be a sustainable EBIT margin (earnings before interest and taxes) of at least 8 percent, Ford said. He'll have responsibility for all of Ford's global business units, and both the Ford and Lincoln brands. And he'll lead all of the automotive skills teams, from product development through customer experience. "Joe Hinrichs possesses the knowledge, experience and leadership to now take our Automotive business to world-class levels of product excellence, customer satisfaction, efficiency and financial performance," Hackett said. "As we enter a busy period for new product launches and further restructuring in underperforming markets, Joe's leadership in transforming businesses through focused execution will be key." Farley is charged with leading Ford's strategic transformation, in which it hopes to gain higher margins through smart/connected vehicles. He'll oversee corporate strategy, global data analytics, global partnerships, research and advanced engineering, including initiatives in smart mobility and autonomous vehicles. "Jim Farley's job is to drive us into the future, both strategically and operationally, from AVs to mobility experiences to leveraging AI and big data. Jim combines an innate feel for what customers want and need in vehicles and the ability to translate this into the vehicles and services of the future," Hackett said. Marcy Klevorn, president of Ford Mobility, plans to retire Oct. 1 after 36 years at Ford. Until then, she will report to Hackett in a strategic role. "I have asked Marcy to work with me and the senior team to accelerate our transformation," Hackett said. "Marcy's decades of experience working with many of the leading companies in the tech space as well as the work she has done with the transformation of Ford IT and the establishment of Ford Mobility gives her unique knowledge to drive these initiatives."

Ford books $1.2B profit in second quarter on strength of trucks

Ford is rolling along nicely, with a positive second-quarter sales report and a $2.3 billion profit in North America. The Dearborn, Michigan-based manufacturer captured $1.2 billion globally from April to June, with a $177 million profit in Asia. Even in Europe, the land of doom and gloom for automakers not named Mazda, Ford saw some success as it lowered its expected full-year loss from $2 billion to $1.8 billion. The company lost $348 million in Europe during the second quarter, which, believe it or not, represents a $56-million improvement over 2012.
According to the report on CNBC, Ford enjoyed a three-percent increase in pre-market trading thanks to the news. The strong demand for the F-150 propelled growth in the US market, while Ford's 47-percent increase in Asian sales can be attributed to the new EcoSport crossover and Kuga (Ford Escape in the US) arriving in the somewhat fragile Chinese market.
Pre-tax profits for Ford are expected to be in the neighborhood of $8 billion by the end of the year, with sales the US, Europe, and China all looking up. The company also shifted $4.78 billion of asset-backed debt in the form of bonds, according to a report by Bloomberg. This move came amidst rumors of the Federal Reserve cutting back on its $85-billion-per-month bond purchases. Ford wasn't alone among automakers looking to sell off debt, though, as Mercedes-Benz and Nissan shifted around $1 billion each in bonds relating to auto loans.

2020 Ford Super Duty Tremor vs. 2020 Ram 2500 Power Wagon: How they compare on paper

(Editor's Note: Due to inconsistencies in manufacturer reporting methods for ground clearance, an earlier version of this article stated the Ram Power Wagon's "ground clearance" to be 14.3 inches when in fact that is its "running clearance," which is deemed the ground to the lowest point of the truck MINUS the axles. The numbers below now reflect true ground clearance, or the ground to the lowest point of the truck, period. The chart and text have been updated to show both measurements for maximum accuracy and clarity.) For several years, the Ram 2500 Power Wagon has been the unquestioned king of heavy duty off-roaders. But competition is coming, and some of the strongest is from the 2020 Ford Super Duty Tremor. We decided to take a look at these trucks' specs and features to see how they compare in the realm of capability. The raw numbers are below along with some notes on each truck's unique features that go beyond the spec sheet. Off-road capability While both of these trucks boast impressive clambering abilities, each with particular strengths. The Super Duty Tremor earns points for better ground clearance and axle clearance, as well as approach angle. Some of the credit goes to the larger 35-inch tires and a shortened front air dam. On the other hand, the Power Wagon leads the Ford in departure angle, and in the ramp travel index. The latter is largely the result of the Power Wagon's electronically disconnecting sway bars, and for those unfamiliar, the ramp travel index measures articulation by having a truck drive one wheel up a ramp with the other on the ground. The farther the truck goes with the ground wheel in contact with the, well, ground, the better the score and the better the articulation. Numbers aren't everything, though. It's important to look at the equipment each truck offers, and things are closer, here, but the Ram still has an edge. Both feature off-road-friendly solid axles at both ends, but only the Power Wagon has fully locking differentials front and rear. The Tremor has a locking rear differential while the front is a limited-slip differential. The Power Wagon comes standard with a 12,000-pound integrated Warn winch, whereas such a winch is an option on the Tremor. The Tremor has its own unique features, though, including the 35-inch tires rather than the Ram's 33-inchers, and it has Ford's fancy off-road cruise control function called Trail Control. Both trucks have shocks and springs tuned for off-road use.