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William Clay Ford Sr. dead at 88

William Clay Ford, retired vice chairman of Ford Motor Company and the last surviving grandchild of company founder Henry Ford, died this morning after a bout with pneumonia. He was 88.
Ford spent 57 years with his grandfather's company, joining the board of directors in 1948 before graduating from college. Ford also held a position as chairman of the design committee, as well as the chairman of the executive committee and vice chairman of the Board of Directors during his tenure with the company. In a 2013 Detroit Free Press story, retired CFO Allan Gilmour said Ford had an eye for design, and was once able to pick out when a fiberglass model of a Ford Contour was asymmetrical, off by an inch on one side. He retired and assumed the position of director emeritus in 2005.
"My father was a great business leader and humanitarian who dedicated his life to the company and the community," said Bill Ford, Jr., Ford's current executive chairman. "He also was a wonderful family man, a loving husband, father, grandfather and great-grandfather. He will be greatly missed by everyone who knew him, yet he will continue to inspire us all."

Ford Escort Concept goes back to basics

Here's the thing about China: The folks buying cars there have a very different set of standards than shoppers in many other markets around the globe. While we all drool over hot metal with bold designs, and while we appreciate automakers going an extra step to inject even their cheapest offerings with aggressive and interesting cues, that sort of sheetmetal sex appeal doesn't always sell in the People's Republic. Case in point is Jaguar, which may be designing a more traditional-looking version of its XJ for the Chinese market, or more to the point of this story, Ford currently sells the less-exciting, last-generation Focus compact in China right alongside the new one.
So consider this new Shanghai-bound C-segment concept a preview of what's to come for that more traditional, budget-minded, less-sexy market. More proof of this pudding: Ford's even calling this concept the Escort - a nod to the Blue Oval's compact car days of yore, and a name that stirs up thoughts of basic, affordable transportation rather than great driving dynamics or bold design. "Customers in China described seeking a vehicle that is stylish - but not one that is arrogant or pretentious," Ford states. And this new Escort concept previews a possibility of providing exactly that for this rapidly expanding automotive market.
What you're looking at, then, is one of the most simple Ford designs we've seen of late, though it still incorporates all of the automaker's latest DNA. The signature hexagonal grille is front and center, flanked by attractive LED headlamps and chrome-rimmed foglamp housings. The entire car's design focuses on clean, smooth surfaces, with one strong character line flowing from front to back just below the beltline. We will say that the car looks decidedly more premium from the rear view, where narrow, horizontal taillamps with an LED accent give the car added visual width. Bland as it may be, it's a handsome little concept, though fear what would likely happen if all of the conceptual details get dumbed down for a production model.

Ford nets $5.7B in 2012, $1.6B in fourth quarter

Ford brought in $5.7 billion in net income during 2012, which is around $307 million less than one year prior. Even so, the automaker closed out 2012 with the highest pre-tax profit for a single quarter in nearly 10 years, earning $1.7 billion in the fourth quarter thanks largely to a higher-than-average truck mix in the US. That's a jump of $577 million over 2011. Likewise, that translated into fourth quarter income of $1.6 billion. All told, Ford set a full-year pre-tax profit record in 2012. But that doesn't necessarily mean everything is rosy in the land of the Blue Oval.
Like every other manufacturer, 2012 saw Ford get hammered in the European Union, where a deep economic recession continues to drive down consumer confidence. The automaker lost more than $700 million in Europe, and saw full revenue of $26.6 billion in 2012. That's a decline of $7.2 billion compared to last yea. Ford says the market for new vehicles in Europe has contracted to 13.5 million units, the lowest number in 17 years. You can read the full press release below for more information.