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New UAW boss Williams talks tough, vows 'no more concessions'

Dennis Williams, the newly elected president of the UAW, had some tough words for American automakers in his inauguration speech at the 2014 UAW Convention, striking down the possibility of any additional concessions from the 400,000-strong union.
"No more concessions. We are tired of it. Enough is enough," Williams said during his speech. UAW employees have not received a raise in nearly 10 years, according to Reuters.
Considering the recent strong results for Ford, Chrysler and General Motors, the union's demands are likely to carry a bit more weight in next year's negotiations. And considering Williams' tough stance, we could be in for some fireworks once negotiations commence.

Ford exec downplays idea of aluminum-intensive cars

Ford certainly made waves when it rolled out the all-new 2015 F-150 made primarily out of aluminum. But while trimming weight off its vehicles is a top priority for the Detroit automaker, we shouldn't expect the lightweight metal to be used as widely on passenger cars as it has been on its new pickup. Speaking at the Automotive News World Congress on Wednesday, top Ford exec Joe Hinrichs said that using aluminum in passenger cars isn't as beneficial as it is in trucks – primarily because the weight savings isn't as dramatic, or as deeply needed. Though improved fuel economy is certainly one advantage of aluminum construction in a truck like the F-150, low prices at the pump have prompted Ford to highlight another advantage, and that's capability: With less weight on its own, a lighter-weight truck can carry and tow more than a heavier one, because it all comes down to combined weight ratings. Ford is expected to make the new F-Series Super Duty largely out of aluminum for the same reasons, and we wouldn't be surprised to see the next Expedition use the material as well. But while certain components in Ford passenger cars will be made of aluminum, we shouldn't expect entire chassis and bodywork assemblies to use the material as extensively as on the F-150, or on more upscale passenger cars from the likes of Audi or Jaguar. Dearborn is, however, investing in other lightweight materials. It has a joint venture with Dow Chemical to put carbon fiber into mass production, much as BMW has with its i3. The Blue Oval will use a combination of carbon and aluminum on its 2017 GT supercar, and it has stripped weight by removing amenities from the 2016 Mustang GT350R, but apparently neither is a method Ford can practically apply to its volume models. Related Video: Featured Gallery 2015 Ford F-150 View 36 Photos News Source: TheDetroitBureau.com, Automotive News - sub. req.Tip: Ford Green Ford aluminum joe hinrichs

Ford 2Q profit drops 86% as it restructures overseas

DEARBORN, Mich. (AP) — Ford's net profit tumbled 86% in the second quarter due largely to restructuring costs in Europe and South America. Net income for the April-through-June period dropped to $148 million, or 4 cents per share. Without the charges the company made 28 cents per share. Revenue was flat at $38.9 billion. On average, analysts surveyed by FactSet expected earnings 31 cents per share on revenue of $38.49 billion. Chief Financial Officer Tim Stone says the company had charges of $1.2 billion as it moved to close factories in Europe and South America. He says Ford already is seeing an impact from its global fitness measures that included a reduction of 7,000 white-collar workers. Ford, which released numbers after the markets closed Wednesday, says its results include a $181 million valuation loss on an investment in a software company, trimming 4 cents off adjusted earnings per share. Its stock fell 6.3% in after-hours trading to $9.68. Stone said Ford is in the early stages of its restructuring, but already is seeing improvement in some regions. Free cash flow also improved by 80% to $2.1 billion in the first half of the year, he said. "We're already starting to see some early benefits," he said. "A lot of work to do." The company expects improvement in the second half of the year as more new big SUVs hit dealerships and more of the restructuring takes hold. Ford on Wednesday forecast pretax adjusted earnings of $7 billion to $7.5 billion for all of 2019, compared with $7 billion last year. The company previously had only said that pretax earnings would improve. Full-year adjusted earnings per share are forecast to be $1.20 to $1.35, up from $1.30 in 2018. Previously it did not give per-share guidance. Ford's U.S. sales fell nearly 5% in the second quarter, according to the Edmunds.com auto pricing site, as the company exited most of its passenger car business. But Stone said sales of the new Ford Ranger small pickup offset much of that as its share of the small truck segment rose 14%. Edmunds, which provides content for The Associated Press, said Ford's average vehicle sale price rose 2.8% to $41,328 during the quarter. In North America, Ford's biggest profit center, pretax earnings fell 3% to just under $1.7 billion, which the company blamed on switching its Chicago factory to build new versions of midsize SUVs.