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Ford CEO Jim Hackett reviewing the future of technology, Lincoln, overseas markets

By Paul Lienert and Joseph White Ford Chief Executive Jim Hackett is reviewing the automaker's operations in India and other markets, as well as Ford's future product programs including plans to build a self-driving commercial vehicle in 2021. Hackett, who took over as CEO in May, has told investors he is working on a 100-day review of Ford's operations but has so far provided few details of the process, except to indicate that it is looking at the automakers' luxury vehicle strategy, the future of its small vehicles and investments in emerging markets. Ford Chief Financial Officer Bob Shanks told Reuters in an interview that the review covers a range of issues, including Ford's strategy for India. "We have a lot of work to do (as) we address issues of how to fix India," Shanks said. "Everything is on the table." General Motors in May said it would stop selling cars in India but continue to produce vehicles there for export. Shanks said no decisions have been made and noted that Ford has a larger business in India than GM did. "We are very cognizant that will be the third-largest market in the world," he said. "Some big decisions will be made," Shanks said, but he cautioned Ford may not disclose all those decisions at the end of the 100-day review. Hackett is addressing challenges that have contributed to a nearly 8 percent decline in Ford's share price this year. The review of the Lincoln luxury brand includes whether current plans will meet former CEO Mark Fields' ambitious targets for growth and revenue, people familiar with the process said. Ford has set a target of putting a self-driving shuttle into commercial ride-sharing fleets by 2021. Hackett is reviewing the investment and timing for that project, the sources said. Hackett also assessing whether to reduce and consolidate production of models such as the Fiesta subcompact and two midsized sedans that are built in multiple locations around the world, but are experiencing slowing demand. One proposal would shift production of the next-generation Mondeo midsized sedan from Europe to Mexico, where it would share an assembly line with its sibling, the Ford Fusion, avoiding the cost of retooling two plants. Shortly after he took charge, Hackett approved a proposal to shift production of the next-generation Focus for North America from Mexico to China, saving the company an estimated $500 million by consolidating two factories into one.

Dealers price gouging Ford Mustang 50th Anniversary Edition by up to $20k [UPDATE]

UPDATE: Sheehy Ford's Cory Belcher got back to us, confirming that the price premium was related to the limited nature of the 50th Anniversary Mustang and that the figure listed was based on what other dealers were charging, while adding that the dealership was "very flexible" on the final price of the special edition car. So while there remains a hefty markup, it's possible that consumers could get out the door without spending quite so much over MSRP. It's no secret that dealers take some – let's call them "liberties" – with the prices on vehicles that are very new, highly in demand or available in very limited numbers. As we've explained before, they're well within their rights to charge so-called market value adjustments. We don't usually see these adjustments on mainstream vehicles, though. Then again, you could argue that the 2015 Ford Mustang 50th Anniversary Edition is not necessarily a mainstream vehicle. It starts at $46,170, which isn't peanuts, but it's still a Mustang. There's still a large portion of the buying public that could put one in their driveway, if they so chose. Then again, maybe they can't. That's because dealers are (still) issuing massive premiums on top of MSRP for the limited-edition model. It's happening at Sheehy Ford Gaithersburg, where a salesperson named Lou confirmed to Autoblog that the dealership is charging around $20,000 over MSRP on not one, but two Anniversary Editions. He explained that Sheehy isn't alone in the upcharge: "We like to see what other dealers are asking for," he told us, in reference to the limited edition 'Stang. We have a message in for the dealership's general manager for deeper info, too, and will update this post when/if we hear back. We corroborated Lou's story, though, with another Maryland area dealer, Century Ford, who confirmed that the $46,995 listed on the dealer's website for its Wimbledon White Anniversary car was incorrect, and the actual price was "around $64,000." He echoed Lou's reasoning for the upcharge, while adding that dealers are likely only going to see one or two examples, of the 1,964 produced. Perhaps the most worrying part of this entire affair is the sense of deceit that accompanies it. Neither of the dealers we spoke to copped to the market value adjustments on their website. We had to call and ask specifically about the cars in question to get the actual price.

Revisiting the 2008-09 auto bailout that saved GM and Chrysler

The Federal Reserve stayed open late on December 31, 2008. There's almost no way you could remember that because barely anyone knew at the time. But General Motors had to pay its bills, and the Fed wired money so GM could still buy things in January. Without those funds, the nation's largest automaker wouldn't have seen much of 2009. It's one of many heart-stopping moments that illustrate just how close Detroit's Big Three came to extinction nearly a decade ago. They're chronicled in a new movie, Live Another Day, premiering in theaters September 16. Filmmakers Bill Burke and Didier Pietri interviewed nearly all of the key executives, federal officials, and union chiefs to recreate the auto industry's most perilous period. The movie begins in the aftermath of Lehman Brothers' demise amid the global financial meltdown. Things looked bleak for American carmakers, and their CEOs were laughed off Capitol Hill when they sought a Wall Street-style bailout. "It was a feeling that it was the end of the world," Pietri told Autoblog in an interview where he and Burke previewed the film. Saved by last-minute loans authorized by the Bush Administration after Congress refused to act, Detroit staggered into 2009 with a faint pulse. Live Another Day illustrates the downward spiral that played out that winter as President Obama and his task force – with little prior knowledge of the auto industry – wrestled over the fate of hundreds of thousands of jobs. GM's longtime CEO Rick Wagoner was fired in March. Fiat CEO Sergio Marchionne suddenly appeared as a savior for Chrysler, with his own motives. Obama rejected restructuring plans from the automakers. Chrysler declared bankruptcy on April 30. GM followed June 1. The sequence was very public, but Pietri and Burke showcase lesser-known events that shaped the outcome. They also seek to dispel the notion that the government rescued GM and Chrysler from incompetent leaders. "We never subscribed to the theories that the management structures of the companies were a bunch of idiots who didn't know what is going on," Pietri said. At one point, Chrysler executives were negotiating with Marchionne and Fiat. Unbeknownst to them, the government was having its own talks with the Italian automaker. The filmmakers also cast light on the bankruptcy process, which was shredded to shepherd two of America's industrial icons through reorganizations.