2014 Ford F150 Xlt on 2040-cars

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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.

Ford F-150 Tremor to pace NASCAR Truck Series this weekend

Ford's bro-tastic F-150 Tremor will be pacing this weekend's NASCAR Camping World Truck Series at Michigan International Speedway. The Tremor fills a gap in the Ford F-Series lineup that we imagine the NASCAR set have clamored for - a hot-rod pickup truck.
Where the F-150 Raptor is designed to go quick on anything, the Tremor and its 3.5-liter EcoBoost V6 are designed to tackle the road. The 365-horsepower and 420-pound-foot EcoBoost is unchanged from the rest of the F-150 line, but it combines the shortest drive ratio with the lightest two-door body, making it a bit of hot rod.
Ford will be offering hot laps with Michigan native Brad Keselowski behind the wheel of the Tremor for fans that arrive in the Irish Hills on August 14. The main showing for the new pickup will be the August 17 race, though, when it'll lead the field at the start of the race and through cautions.

2015 Ford F-150 begins rolling off line at second factory

Ford needs more F-150s. Yeah, we just told you that a few days ago. The Blue Oval is reporting that its trucks are spending a mere 18 days on dealer lots, following a January that was the truck's best month in over a decade. Considering both of those facts, the timing is perfect for Ford to ramp up production of its all-aluminum truck by bringing its Kansas City, MO factory online. KC Assembly has been building F-150s for decades, and completed a $1.1-billion expansion to accommodate the all-aluminum 2015 truck (as well as for work on the Transit van). Similar to what was done at Ford's Dearborn, MI factory, the Blue Oval spent 13 weeks upgrading the plant's body shop, paint shop and a road-test course. Over 900 jobs were added as part of the update. Combined with the equally upgraded plant in metro Detroit, Ford can build 700,000 trucks per year. "The all-new F-150 has surpassed our expectations – setting new standards for fullsize truck capability, technology and efficiency," Joe Hinrichs, Ford's Americas president said in a statement. "With production starting at Kansas City Assembly, we are better poised to start meeting growing customer demand for our pickup." Scroll down for the official press blast from the Blue Oval. Related Video: KANSAS CITY ASSEMBLY PLANT COMES ON LINE AS SECOND U.S. FACTORY BUILDING ALL-NEW FORD F-150 2015 Ford F-150 starts production at Kansas City Assembly Plant; along with three shifts in operation at Dearborn Truck Plant, Ford is now producing even more units of the toughest, smartest, most capable F-150 ever All-new F-150 is turning more than four times faster than the overall full-size pickup truck segment; In addition to producing all F-150 models and cab configurations, Kansas City exclusively builds specialty F-150s with 8-foot cargo boxes and heavy payload packages to meet the needs of commercial fleet customers Kansas City Assembly Plant facilities transformed with the latest in manufacturing technology to build the first mass-produced truck in its class featuring a high-strength, military-grade, aluminum-alloy body and bed CLAYCOMO, Mo., March 13, 2015 – Ford today marks the official start of production of the all-new 2015 F-150 at Kansas City Assembly Plant, which joins Dearborn Truck Plant in building the toughest, smartest, most capable F-150 ever. This means Ford has expanded production of the first mass-produced light-duty pickup truck with a high-strength, military-grade, aluminum-alloy body.