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Fields 'required' to use private aircraft, could make $5.25M as Ford CEO this year

Mark Fields' travels on the friendly skies will soon be a relatively personal affair, as the new CEO at Ford will be required to resume air travel via the company's private planes. Fields caught plenty of flak in 2007 for flying on the company's dime to visit his family in Florida. He's since flown commercial.
According to Ford spokesperson Susan Krusel, who spoke to Bloomberg, Fields (pictured above right, with Bill Ford, Jr. at center and Alan Mulally at left) will switch to private travel "for safety and to maximize his availability for company business." In addition to his new travel arrangements, the 53-year-old exec's salary and bonuses have been revealed.
Regulatory filings by Ford revealed that Fields, whose first day in the big chair was July 1, will receive a base salary this year of $1.25 million and he'll be eligible for $3.5 million in bonuses, both of which are lower than Alan Mulally's $2 million salary and $5.88 million in bonuses received last year. That's also lower than General Motors CEO Mary Barra's alleged $1.6-million salary and considerably less than Sergio Marchionne's $3.19-million fixed salary from Fiat. Despite falling short of other CEOs, Fields' new pay still represents a 33-percent increase over his pay as Chief Operating Officer.

Ford nets $924M in first quarter

Where General Motors' first-quarter 2015 financials showed growth in many major metrics, Ford's newly released numbers had falling figures in most of the vital categories. The automaker's Q1 revenue shrank to $33.9 billion, down $2 billion, and net income fell to $924 million, a $65-million drop. However, pre-tax profits increased slightly to $1.4 billion, $24 million more than in the same period in 2014, and operating margin rose to 3.6 percent, up 0.2 percent. Despite the less-than-stellar numbers, the Blue Oval thinks 2015 should be positive for the company. "The first quarter was a good start to a year in which our results will grow progressively stronger as the new products we have been launching start to pay off," CEO Mark Fields said in the financial announcement. The automaker has 15 vehicles to launch globally this year, and only three of them are already out. By the end of 2015, Ford predicts pre-tax profits of between $8.5 billion and $9.5 billion. In terms of vehicle sales, Ford slipped by 21,000 to a total of 1.568 million worldwide in the first quarter. North American sales dropped to 678,000, which was 39,000 less than last year, and pre-tax profits fell to $1.34 billion, a $160-million fall. The company explained the reductions on this continent as linked to the launches of the latest F-150 and Edge. In other major markets, European wholesales grew to 376,000 vehicles, a 9,000-car boost from last year. Pre-tax results there increased by $9 million, but the area still showed an overall loss of $185 million. In the Asia Pacific region, Ford moved 16,000 more units than in Q1 2014 to reach 366,000. However, due in part to preparing for new vehicles, the company only made $103 million there, a $188-million drop. The automaker released all of these figures as part of a PDF, which you can download here. Related Video:

GM takes 2020 full-size pickup sales crown

It's no secret that 2020 was an unconventional year for auto sales. Extenuating circumstances or not, it was a year of upheaval even for ever-resilient (and ever-profitable) pickups, with General Motors taking the crown from Ford in the full-size segment.  The Ford F-Series still outsold every other full-size pickup nameplate in the country by a significant margin. It's only when you combine GM's Chevrolet Silverado and GMC Sierra variants that you get a number that exceeds Ford's. This isn't really a new phenomenon, either. In fact, it was only somewhat recently that Ford took the overall full-size crown away from GM, and not only did Ford widen the gap in recent years, but Ram has once again become a legitimate challenger, even managing to outsell the Silverado by a healthy margin in 2019, but never coming close to the F-Series in terms of total volume.  But, 2020 being 2020, things got weird yet again. Ram remains relevant, of course, but Ford got caught with its pants down thanks to the one-two punch of COVID and the generational changeover of the core F-150 model, which resulted in a production interruption as the company's assembly facilities transitioned from building the old 2020 model to the new-for-2021. This perfect storm, as it turns out, was sufficient for GM to walk away with the full-size crown. See for yourself: Full-size 2020 pickup sales: GM total: 847,110 F-Series: 787,422 Silverado: 594,094 Ram: 563,676 Sierra: 253,016 Tundra: 109,203 Titan: 26,439 As you can see, Ram slipped back behind Silverado, slotting comfortably into third place. The Silverado 1500 had a flat year, but the heavy- and medium-duty variants bucked the trend and contributed to a slight uptick in sales for the nameplate, while F-Series tumbled more than 12% (nearly 110,000 units), opening the door for GM to steam ahead.  There were similarly significant shakeups in the midsize truck segment. First, 2020 was the first full year of retail sales for the Gladiator pickup, which surged to fourth place behind the stalwart Tacoma, Ranger and Colorado. GM's combined sales of the Colorado and Canyon are good enough for second place by manufacturer, but nowhere close to what it would take to dethrone Toyota.