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Company veterans promoted to set a course for the future of Ford

Ford on Wednesday named two company veterans to lead its auto and mobility businesses as the No. 2 U.S. automaker shifts its focus to autonomous vehicles and realigns its automobile portfolio. Joe Hinrichs was named president of Ford's automotive unit, and Jim Farley will be president, new businesses, technology and strategy, effective May 1. Both will report to Chief Executive Officer Jim Hackett. Hinrichs' goal will be a sustainable EBIT margin (earnings before interest and taxes) of at least 8 percent, Ford said. He'll have responsibility for all of Ford's global business units, and both the Ford and Lincoln brands. And he'll lead all of the automotive skills teams, from product development through customer experience. "Joe Hinrichs possesses the knowledge, experience and leadership to now take our Automotive business to world-class levels of product excellence, customer satisfaction, efficiency and financial performance," Hackett said. "As we enter a busy period for new product launches and further restructuring in underperforming markets, Joe's leadership in transforming businesses through focused execution will be key." Farley is charged with leading Ford's strategic transformation, in which it hopes to gain higher margins through smart/connected vehicles. He'll oversee corporate strategy, global data analytics, global partnerships, research and advanced engineering, including initiatives in smart mobility and autonomous vehicles. "Jim Farley's job is to drive us into the future, both strategically and operationally, from AVs to mobility experiences to leveraging AI and big data. Jim combines an innate feel for what customers want and need in vehicles and the ability to translate this into the vehicles and services of the future," Hackett said. Marcy Klevorn, president of Ford Mobility, plans to retire Oct. 1 after 36 years at Ford. Until then, she will report to Hackett in a strategic role. "I have asked Marcy to work with me and the senior team to accelerate our transformation," Hackett said. "Marcy's decades of experience working with many of the leading companies in the tech space as well as the work she has done with the transformation of Ford IT and the establishment of Ford Mobility gives her unique knowledge to drive these initiatives."

2022 Lincoln Corsair starts at $37,300

A week ago, we posted on price increases and reductions Ford applied to the 2022 Escape. Ford Authority reveals that automaker money men have been working similar equations on MSRPs for the Escape's platform mate, the 2022 Lincoln Corsair. Similar to what was done with the Escape, the Corsair sees a small increase on one of the lower trims and reductions on the upper trims. The discounts are offset slightly by the destination charge going up by $100, from $1,095 to $1,195. The entry-level, front-wheel-drive Corsair only goes up by that higher destination charge, its MSRP sticking at $36,105 and coming to $37,300 after destination. Sending power to the rear wheels raises the price by $200, half of that in the MSRP, totaling $39,600.    The Corsair Reserve with front-wheel drive comes down by $2,125, to $42,020. Opting for all-wheel drive shaves the discount a tad to $2,025, for a total of $44,320. This is no freebie, the reduction coming thanks to product planners removing the 14-speaker Reveal Audio System from the list of standard equipment. Putting that stereo back into the Reveal will cost $3,300, but that price is the result of combining options packages so it does include extra equipment. Audiophiles need to choose the Luxury Package, which costs $2,200; however, in order to get the Luxury, they'll also need to choose the $1,100 Elements package, a cold-weather group with features like a heated steering wheel and seats, and windshield wiper de-icer.    Note, at the time of writing, the Corsair Reserve configurator is a little confusing. It still lists the "Revel Audio System with 14-Speakers including Subwoofer" as standard under the Radio Type tab. Under Audio Upgrade, it lists "Lincoln Premium Audio System with 14-Speakers Including Subwoofer," and wants to charge $3,300 for that. This is backward. The Lincoln Premium Audio is a 10-speaker system, and it's the one that comes standard in 2022.  The Corsair Grand Touring, which only comes with all-wheel drive, drops $60 on MSRP but overall climbs by $40 with the destination charge, to $51,525. The Corsair, like the Escape, is due for a refresh for the 2023 model year that could bring a new powertrain besides the expected interior revisions. A brand new Escape/Corsair duo has been predicted for 2025. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Ford recalls 90,736 vehicles due to engine valve issue

Ford will recall 90,736 vehicles as engine intake valves in the vehicles may break while driving, the National Highway Traffic Safety Administration (NHTSA) said on Saturday. The recall impacts certain 2021-2022 Bronco, F-150, Edge, Explorer, Lincoln Nautilus, and Lincoln Aviator vehicles equipped with either a 2.7L or 3.0L Nano EcoBoost engine, the NHTSA said. According to documents posted by NHTSA and sourced from the automaker, "The engine intake valves may break while driving, which can result in engine failure and a loss of drive power." Following an investigation that started in January, 2022, Ford found 22 instances where "the engine intake valves fractured and fell into the combustion chamber of the engine causing catastrophic engine damage." The automaker's analysis continues: "Ford identified that the potential root cause of the failures was engine intake valve failure due to valves that exceeded the designed specification for hardness, were brittle, and more likely to fracture. Ford determined that this was due to the supplier’s grinding processes and the sensitivity of the intake valve material to grinding processes that were not within control specifications. The intake valve material was changed for vehicles produced after October 31, 2021." Fixing the problem will require replacement of the entire engine. "Dealers will inspect each vehicle to determine its cumulative number of engine cycles. For vehicles that do not meet the engine cycle threshold, dealers will accumulate high revolutions per minute (rpm) engine cycles per a service procedure. Engines will be replaced on vehicles that do not pass the engine cycle accumulation," Ford says.