1 Owner 1997 Ford F350 Crew Cab 7.3 Powerstroke Diesel 4x4 Only 111,219 Miles on 2040-cars

Auto blog

Ford starting up 2.0L EcoBoost engine production in Ohio

Joe Hinrichs, Ford's President of The Americas (pictured above), announced today that in late 2014, the automaker will be building the 2.0-liter EcoBoost four-cylinder at its Cleveland Engine Plant, a move requiring a $200-million investment and the hiring of 450 new employees. European-built Ford products will continue to source this engine from the Valencia, Spain plant where all of these EcoBoost four-cylinder engines are currently built, and the new Cleveland engines will be used for all North American-made models.
Ford is planning to build its popular EcoBoost engines regionally to maximize production capacity and meet customer demand. Last year, Ford sold 334,364 vehicles with EcoBoost engines in the US alone, and that number is expected to swell to more than 500,000 by the end of this year, with global sales expected to total 1.6 million. By 2015, Ford says that 95 percent of its nameplates will offer an EcoBoost engine.
One such vehicle that could be adding an EcoBoost engine, according to Automotive News, is none other than the 2015 Ford Mustang. The report says that Ford could use either the 2.0-liter EcoBoost or an upcoming 2.3-liter EcoBoost in the sixth-generation pony car.

Ford workers vote to ratify new four-year UAW contract

DETROIT — The United Auto Workers union said on Friday that rank-and-file members at Ford have voted in favor of a new four-year labor contract with the No. 2 U.S. automaker. The UAW will now focus on Fiat Chrysler Automobiles (FCA), the sole remaining Detroit automaker without a new labor contract. Talks with FCA are expected to begin on Monday, a UAW spokesman said. The union said 56.3% of Ford's hourly workers voted to approve the deal, which allowed the company to avoid a strike like the one that cost its larger rival General Motors about $3 billion (GBP2.3 billion). UAW leaders said earlier this month that Ford under the deal agreed to invest more than $6 billion in its U.S. plants, and to create or retain more than 8,500 UAW jobs. The deal also includes pay raises and lump-sum payments over the life of the contract, a pathway to full-time employment for temporary employees and unchanged healthcare coverage. Workers at GM approved a deal in late October that ended a contentious 40-day U.S. strike, the longest automotive labor stoppage since 1970. Detailed terms of the Ford deal — released just a week after GM workers approved their new contract — echoed those agreed to with GM, as the union typically uses the first deal as a template for those that follow. UAW leaders managed contract negotiations with Ford and GM, including the lengthy strike, while struggling with an ongoing federal corruption probe. To date, 10 people have pleaded guilty in connection with the criminal investigation into illegal payoffs. Just last week former UAW vice president and former GM board member Joseph Ashton was charged with conspiracy to commit money laundering and wire fraud. Earlier this month the UAW said that its president, Gary Jones, who had been linked to the ongoing corruption probe, was taking a leave of absence. Rory Gamble, the union's acting head, said last week he will examine every department of the union in response to the spreading federal corruption probe to prevent future misuse of members' dues.

Ford 2Q profit drops 86% as it restructures overseas

DEARBORN, Mich. (AP) — Ford's net profit tumbled 86% in the second quarter due largely to restructuring costs in Europe and South America. Net income for the April-through-June period dropped to $148 million, or 4 cents per share. Without the charges the company made 28 cents per share. Revenue was flat at $38.9 billion. On average, analysts surveyed by FactSet expected earnings 31 cents per share on revenue of $38.49 billion. Chief Financial Officer Tim Stone says the company had charges of $1.2 billion as it moved to close factories in Europe and South America. He says Ford already is seeing an impact from its global fitness measures that included a reduction of 7,000 white-collar workers. Ford, which released numbers after the markets closed Wednesday, says its results include a $181 million valuation loss on an investment in a software company, trimming 4 cents off adjusted earnings per share. Its stock fell 6.3% in after-hours trading to $9.68. Stone said Ford is in the early stages of its restructuring, but already is seeing improvement in some regions. Free cash flow also improved by 80% to $2.1 billion in the first half of the year, he said. "We're already starting to see some early benefits," he said. "A lot of work to do." The company expects improvement in the second half of the year as more new big SUVs hit dealerships and more of the restructuring takes hold. Ford on Wednesday forecast pretax adjusted earnings of $7 billion to $7.5 billion for all of 2019, compared with $7 billion last year. The company previously had only said that pretax earnings would improve. Full-year adjusted earnings per share are forecast to be $1.20 to $1.35, up from $1.30 in 2018. Previously it did not give per-share guidance. Ford's U.S. sales fell nearly 5% in the second quarter, according to the Edmunds.com auto pricing site, as the company exited most of its passenger car business. But Stone said sales of the new Ford Ranger small pickup offset much of that as its share of the small truck segment rose 14%. Edmunds, which provides content for The Associated Press, said Ford's average vehicle sale price rose 2.8% to $41,328 during the quarter. In North America, Ford's biggest profit center, pretax earnings fell 3% to just under $1.7 billion, which the company blamed on switching its Chicago factory to build new versions of midsize SUVs.