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Ford board pushing Mulally for decision amidst fears story is drowning out other news

Automakers and their executives rarely like to divulge information regarding future goings on, but the board of directors at Ford sound like they're getting a little antsy about chief executive officer Alan Mulally and his plans for 2014.
According to Reuters, as news of Mulally's possible departure to Microsoft continues to swirl, Ford's board is looking to push the affable executive to make a decision about his future sooner rather than later. Apparently, the board is growing concerned that this will-he/won't-he drama may end up distracting the media from covering Ford's other big news events next year - items like the debut of key all-new products like the Mustang and F-150.
So far, the picture for Mulally's eventual successor remains fuzzy, but it's understood that the leading candidate remains the company's chief operating officer, Mark Fields. Just recently, we heard that Mulally will stay until the end of 2014, but a few months ago, Ford seemed open to the idea of him stepping down earlier than that.

Major automakers post mixed US June sales figures

General Motors, Ford and Fiat Chrysler Automobiles NV posted declines in US new vehicle sales for June on Monday, while major Japanese automakers reported stronger figures. Once again, demand for pickup trucks and crossovers offset a decline in sedan sales. Automakers' shares rose as overall industry sales still came in above Wall Street expectations. The US auto industry is bracing for a downturn after hitting a record 17.55 million new vehicles sold in 2016. Analysts had predicted that overall, US vehicle sales would fall in June for the fourth consecutive month. As the market has shown signs of cooling, automakers have hiked discounts and loosened lending terms. Car shopping website Edmunds said on Monday the average length of a car loan reached an all-time high of 69.3 months in June. "It's financially risky, leaving borrowers exposed to being upside down on their vehicles for a large chunk of their loans," said Jessica Caldwell, Edmunds' executive director of industry analysis. GM said its sales fell about 5 percent versus June 2016, but that the industry would see stronger sales in the second half of 2017 versus the first half. "Under the current economic conditions, we anticipate US retail vehicle sales will remain strong for the foreseeable future." GM shares were up 2.4 percent in morning trading, while Ford rose 3.3 percent and FCA shares jumped 6 percent. "US total sales are moderating due to an industry-wide pullback in daily rental sales, but key US economic fundamentals clearly remain positive," said GM chief economist Mustafa Mohatarem. "Under the current economic conditions, we anticipate US retail vehicle sales will remain strong for the foreseeable future." Ford said its sales for June were hit by lower fleet sales to rental agencies, businesses, and government entities, which fell 13.9 percent, while sales to consumers were flat. But it sold a record 406,464 SUVs in the first half of the year, with Explorer sales increasing 23 percent in June. And sales of the F-150 had their strongest June since 2001. On a media call, Ford executives said an initial read of automakers' sales figures indicated a seasonally adjusted annualized rate of around 17 million new vehicles for the month, which would be better than 16.6 million units analysts had predicted. FCA said June sales decreased 7 percent versus the same month a year earlier.

Ford exec reveals new F-150 Raptor packs 450 horsepower

Between the new GT supercar, Shelby GT350R muscle car and F-150 Raptor off-roader, Ford had quite the array of performance machinery on display at the Detroit Auto Show earlier this month. One thing it didn't reveal about any of the three, however, is how much power they'd pack, but a senior executive at the Blue Oval automaker has reportedly let the cat out of the bag when it comes to the Raptor. During a televised interview during the Rolex 24 at Daytona this past weekend, Ford's product development chief Raj Nair is said to have revealed that the new F-150 Raptor will offer 450 horsepower. That's pretty impressive from a 3.5-liter turbocharged V6, and would put the new Raptor out ahead of the 411 hp produced by the 6.2-liter naturally aspirated V8 in the previous SVT Raptor. That doesn't give us the whole picture, though, because in a vehicle this big especially, torque will play a huge factor. The outgoing Raptor offered 424 pound-feet of twist, and the existing 3.5-liter EcoBoost engine is already producing 420 lb-ft – so it seems fairly safe to assume the new Raptor will eclipse those figures as well, but we'll have to wait for official word to find out for sure. Related Video: