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Ford Mustang returning to Australia in 2016

Australia's Herald Sun newspaper has reported that the next-generation Ford Mustang is heading Down Under in 2016, just as Ford is hanging the "Closed for Good" sign on its Australian manufacturing operations and sending the Falcon to its grave. Ford hasn't offered any official word on the matter, but the paper says that Ford's global VP of sales and marketing, Jim Farley, is flying to Australia to make the announcement himself.
While Ford converted Mustangs in the early 2000s from left-hand to right-hand drive for the Australian market and then sold them at high prices, it's been almost five decades since Ford imported a dedicated right-hand-drive Mustang to Oz. The arrival of the global model specifically made for places like Australia and the UK means Ford will also be able to offer them at better prices than the converted models; the Herald Sun says the price is expected to be "close to $50,000."
And that's for one of the "V8 performance models," which are the only ones Australia will get; Ford apparently won't send the turbocharged four cylinder or the V6. The Aussies could find out in a month from now whether this rumor is true. We will all find out what this Mustang fuss is about when the car debuts at next year's New York Auto Show.

Ford sets rules for dealers selling electric cars: Fixed no-haggle pricing

Are you tired of reading about shady dealers marking up cars and taking advantage of buyers? Apparently, Ford is, too. According to The Drive, The Blue Oval issued a warning at its annual dealer conference, telling franchisees that they have until the end of October to decide whether to commit to fixed, no haggle pricing or be cut out of selling EVs. Ford is far from the only auto brand watching its dealers make up their own pricing, but it’s been one of the quickest to act on the issue. Earlier this year, the automaker split its business operations, with one part of the company focusing solely on electric vehicles and powertrain development and the other continuing FordÂ’s gas vehicle development. If dealers want to sell EVs, theyÂ’ll have to opt into the rules for Ford Model E (the brandÂ’s electric business arm) — one of which is a commitment to transparent, no-haggle pricing. Once theyÂ’ve agreed to the terms and conditions, Ford dealers become Model E Certified. The automaker views this as an opportunity to push more of its network toward a model that Tesla and other startups adopted. Many younger buyers favor direct sales, as it limits the in-person time required to buy a car and makes the purchase process easier for many. This is undoubtedly an annoyance for dealers, but theyÂ’ve long been asked to make investments to promote new products and initiatives. The shift to electrification has required the franchisees to make even more significant commitments, and in some cases, sizable financial investments, to meet automakersÂ’ new requirements. Automakers, including Ford, have provided off-ramps for dealers not interested in making the switch to EVs. Cadillac saw an exodus of more than a third of its dealer network after it issued new rules for electric vehicle sales. Ford will likely see some attrition with this policy change, but itÂ’s offering dealers an opportunity to “spend more to make more,” so to speak. Stores already committed to selling EVs can promise to invest an additional amount – up to half a million dollars – to build additional chargers and invest in other equipment. Those that do can earn an “Elite” designation on their Model E certification and are not subject to allocation limits and other speedbumps that other certified dealers see. Earnings/Financials Green Ford Lincoln Car Buying Car Dealers Electric

Ford rakes in record $2.5b profit during Q1 of 2016

Fears that the auto industry is due for a downturn may be fading. Ford posted record profits in the first quarter of 2016, the company announced Thursday. Chief financial officer Bob Shanks said Ford enjoyed its best quarterly performance in history, generating operating profits of $3.8 billion and a record profit margin of 9.8 percent. Overall, the company's $2.5 billion profit in the quarter more than doubled from the 2015 quarterly results. "The first quarter was an absolutely terrific start to the year, an all-time record for the company, with very strong performance across the business," said chief executive officer Mark Fields. "We're excited about our future and confident in our ability to deliver long-term growth and profitability as we expand our business model to be both an auto and a mobility company." During the quarter, Ford announced the creation of Ford Smart Mobility, a new subsidiary that would vet future mobility projects in the realm of car-sharing, fractional ownership and autonomous deployment. The company also kicked off a billion-dollar makeover of its Dearborn, Michigan campus and headquarters. The company's after-tax earnings of $0.68 per share trumped Wall Street's expectations, and were significantly up from $0.39 per share a year ago. The results were buoyed by the company's fourth consecutive quarter of growth in Europe, which comes after a long period of stagnant sales. Ford's earnings results come amid reports that April car sales are on pace to jump 4 percent year over year, which would make it the best-selling April in history. Kelley Blue Book projects that car sales will reach 1.51 million this month, placing the industry on track for 17.5 million vehicles sold in 2016. Even as SUV and crossover sales drive the market, analysts say Nissan and Honda are positioned to benefit from renewed interest in mid-size cars. "Following a disappointing March, we expect sales to get back on track in April with SAAR in the mid-17 million range," said Tim Fleming, analyst for Kelley Blue Book. "Increased fleet sales and rising incentive spending among automakers remain the factors to watch, but the retail demand appears to be holding steady, signaling the industry's strong run isn't over quite yet." Related Video: Image Credit: Getty Earnings/Financials Ford Lincoln 5g Connectivity mobility auto industry financial