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Ford defends plan to shareholders: ‘We're simply reinventing the American car’

Ford's top executives took heat from shareholders over their plan to do away with sedans as we know them in Ford's North American lineup, as the company held its annual meeting Thursday. Critics said the plan to shelve the Fiesta, Focus and Taurus, reduce the Focus to one crossover model, and concentrate on high-margin trucks and SUVs was a shortsighted abandonment of entire market segments of affordable vehicles. "This doesn't mean we intend to lose those customers," Ford CEO Jim Hackett said. "We want to give them what they're telling us they really want. We're simply reinventing the American car." Ford has said SUVs/crossovers and pickups will constitute 90 percent of its North American lineup by 2020. And though only the Mustang and new Focus Active will remain, it plans to add new vehicles going forward that offer better fuel economy and utility, including EVs and hybrids. Hackett characterized the shift not as an abandonment of traditional cars but as a transformation of them. "We don't want anyone to think we're leaving anything," Hackett said. "We're just moving to a modern version. This is an exciting new generation of vehicles coming from Ford." It was Hackett's first annual meeting as CEO, and for the second year it was conducted online rather than in person. The change to Ford's lineup is part of Hackett's overall plan to cut $25.2 billion in costs by the year 2022. Executive Chairman Bill Ford Jr. blamed the negative reaction to the lineup plan on media coverage. "I wish the coverage had been a little different," he said. "If you got beyond the headline, you'll see we're adding to our product lineup and by 2020 we'll have the freshest showroom in the industry. The headlines look like Ford's retreating. In fact, nothing could be further from the truth." While Ford was clear about its plans for the Blue Oval, it has been less clear about the Lincoln brand. Hackett on Thursday said only that the Lincoln Continental, re-introduced just two years ago, would continue "through its life cycle" — but it has been such a slow seller that rumor has Ford killing the Continental again after that, and Hackett made no mention of a new generation. Presumably the MKZ sedan will go away when its twin the Ford Fusion does, but although Ford has outlined end dates for other models, the Fusion's departure is open-ended. The stock price has been a frustration for investors for years and has fallen 12 percent since the first of the year.

Ford, Toyota clean up in Best Car For The Money Awards

The U.S. News Best Cars for the Money Awards picks winners by looking at the average transaction price, five-year total cost of ownership, the regard a car has from the automotive press, reliability figures from J.D. Power and Associates and safety data from the National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety. The result, according to the magazine, is "the best combination of critical acclaim and long-term value."
Ford nabbed six of the 21 categories that received awards this year, the Focus, Fusion, Fusion Hybrid, Taurus, Escape and Edge getting trophies. Toyota and its Lexus and Scion sub-brands took another five, the Tacoma and Tundra owning the two categories given to pickup trucks. The other ten awards were split between Honda with three, Buick with two, and one each for Subaru, BMW, Hyundai, Chevrolet and Mazda.
Follow the link to see all the winners and read about why they were chosen.

Woman reunited with stolen Mustang after 28 years

An enthusiast Christmas story: Salinas, California resident Lynda Alsip bought a 1967 Ford Mustang in 1984 when she was 17 years old, having saved $800 after a summer of toil at a grocery store. She got a vanity plate that read "LYNDA67," for the year she was born, but she only got to enjoy the car for two years: in 1986, after a night out, someone stole it from her apartment complex. She hadn't seen it since. Then a man – another Salinas resident – tried to register the car at the DMV this year. He said he bought it as a project car in 1991, yet the DMV couldn't find any record of it. The DMV office sent the case of the untraceable car to the California Highway Patrol, where Officer Christopher Menchen dug into the records, and his search paid off. The officer located Alsip's stolen record report from 1986 and connected the Mustang to it's registered owner in 1986, who was Alsip's mother. The CHP found the forest green Mustang in the man's garage, and they figure it's been there since 1991. After waiting through the still-ongoing three-month investigation, the CHP reunited Alsip – now a wife and a mother of two – with her car on December 22. It's undriveable, but her original vanity plate is back on and she plans to restore it. The video above has the story. News Source: USA Today, NBC Bay Area Government/Legal Ford Coupe Classics Videos California stolen car 1967 ford mustang