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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."

May 2016: FCA wins, Ford and GM stumble on weak car volumes

The May 2016 sales numbers are in, and it looks as though FCA is getting some vindication for boldly cancelling two slow-selling car models. Meanwhile, Ford saw overall sales dip and GM's May volume took a big dive versus the same month in 2015. While Marchionne's decision to axe the Chrysler 200 and Dodge Dart has drawn criticism as being short-sighted, it's working for FCA so far. Although the Dart and 200 aren't out of production yet and no capacity has been shifted to crossover or trucks, May's numbers show that the emphasis on Jeep and Ram models makes sense right now. FCA's US sales rose 1 percent last month compared to May 2015, putting the year-to-date total at 955,186 vehicles, an increase of 6 percent compared to the same period last year. Standouts included the Jeep Renegade, Compass, and Patriot, and the Fiat 500X. Ram pickup sales were down 3 percent. And your fun fact is that Alfa Romeo sales were up precisely 10 percent, for a total of 44 4Cs sold versus 40 in the same month last year. At FoMoCo, the Ford brand took a hit to the tune of 6.4 percent from May 2015 to 2016, registering 226,190 sales last month. Lincoln showed improvement on its modest numbers, going from 9,174 to 9,807, a 6.9 percent increase. Overall, Ford was down 5.9 percent for the month to 235,997; despite the slump, year-to-date total Ford sales are up 4.2 percent to 1,112,939. Strong sellers included Escape, Expedition, F-Series, and Transit - big stuff. Most small and/or efficient models (Fiesta, Focus, Fusion, C-Max) saw sales slides. Fusion sales were also down, likely due to effects of model changeover to the freshened 2017 model. Ford has promised four new crossovers and SUVs by 2020 and if things keep trending this way the company will be able to sell them, but things could change in the next four years. GM saw the worst of it for domestic brands. Retail and fleet sales were down for each of the four divisions, with the May 2016 total dropping 18 percent to 240,450 vehicles. GM's year-to-date sales are down 5.0 percent in 2016 to 1,183,705. Both the Sierra and Silverado were down significantly, and the majority of Chevy, Buick, GMC, and Cadillac nameplates saw sales decreases, with both small cars and larger utilities included. Not even big stuff could help GM this month, it seems. We'll have more on the rest of the industry's May sales as those figures trickle in.

2024 Lincoln Nautilus pricing is already out, and it's up

The new 2024 Lincoln Nautilus was just revealed, but now pricing is already out. Not only is pricing available to walk through, but Lincoln opened up its configurator and is allowing you to build and price one. As you might expect from a new generation with a whole lot more features, the base price is up. A 2024 Nautilus Premiere starts at $51,810, including the $1,395 destination charge — weÂ’ll note that the new Nautilus will be built in China now, but the destination fee is the same as the Canadian-built 2023 model. Overall, the new Nautilus is $5,590 more than the outgoing version. Considering that AWD is now standard equipment, and the plethora of additional tech/features now present in this new generation, the increase is no surprise. The Nautilus comes with a gas-only 2.0-liter turbo engine as standard equipment, but you can select the hybrid option for an extra $1,500. LincolnÂ’s mid-level trim is the Reserve at $56,145, which adds “premium” leather seats in the first and second rows, a leather-wrapped steering wheel, unique “jewel” accented grille and 21-inch wheels instead of the 19-inch wheels standard on the Premiere. Both the Premiere and Reserve have very expensive packages that group together a bunch of premium options — weÂ’d recommend reading through them on the configurator to see if theyÂ’re must-haves for your needs. If you want BlueCruise 1.2 (hands-free driver assist system) or one of the available Revel audio systems, though, youÂ’ll need to select one of these packages. Per usual with Lincoln, the Black Label trim is the range-topper. It comes with nearly every option as standard equipment and starts at $75,860. The biggest choices you can make here are powertrain — Lincoln still charges $1,500 extra for the hybrid in the Black Label — and then picking your exterior and interior color themes. Chalet, a cream and brown theme, or Redwood, a reddish-brown and black theme, can be selected on the inside. ThereÂ’s a $3,000 Jet Appearance Package available, too, which comes with unique wheels, fully-blacked-out exterior trim and a unique interior. You can even spend $2,000 on LincolnÂ’s fancy, new Chroma Caviar Dark Grey Metallic paint, the most expensive color in the catalog. Check all of these boxes, and you can get a Nautilus up to $82,360. At that price, you could buy an entry-level Navigator or a well-equipped Aviator.