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Ford defends plan to shareholders: ‘We're simply reinventing the American car’

Ford's top executives took heat from shareholders over their plan to do away with sedans as we know them in Ford's North American lineup, as the company held its annual meeting Thursday. Critics said the plan to shelve the Fiesta, Focus and Taurus, reduce the Focus to one crossover model, and concentrate on high-margin trucks and SUVs was a shortsighted abandonment of entire market segments of affordable vehicles. "This doesn't mean we intend to lose those customers," Ford CEO Jim Hackett said. "We want to give them what they're telling us they really want. We're simply reinventing the American car." Ford has said SUVs/crossovers and pickups will constitute 90 percent of its North American lineup by 2020. And though only the Mustang and new Focus Active will remain, it plans to add new vehicles going forward that offer better fuel economy and utility, including EVs and hybrids. Hackett characterized the shift not as an abandonment of traditional cars but as a transformation of them. "We don't want anyone to think we're leaving anything," Hackett said. "We're just moving to a modern version. This is an exciting new generation of vehicles coming from Ford." It was Hackett's first annual meeting as CEO, and for the second year it was conducted online rather than in person. The change to Ford's lineup is part of Hackett's overall plan to cut $25.2 billion in costs by the year 2022. Executive Chairman Bill Ford Jr. blamed the negative reaction to the lineup plan on media coverage. "I wish the coverage had been a little different," he said. "If you got beyond the headline, you'll see we're adding to our product lineup and by 2020 we'll have the freshest showroom in the industry. The headlines look like Ford's retreating. In fact, nothing could be further from the truth." While Ford was clear about its plans for the Blue Oval, it has been less clear about the Lincoln brand. Hackett on Thursday said only that the Lincoln Continental, re-introduced just two years ago, would continue "through its life cycle" — but it has been such a slow seller that rumor has Ford killing the Continental again after that, and Hackett made no mention of a new generation. Presumably the MKZ sedan will go away when its twin the Ford Fusion does, but although Ford has outlined end dates for other models, the Fusion's departure is open-ended. The stock price has been a frustration for investors for years and has fallen 12 percent since the first of the year.

New car market raining on convertibles' parade

Whether fitted with soft or hard folding lids, today's droptops are better than ever for year-round motoring. Advancements in power top mechanisms, sealing, aerodynamics, structural rigidity, rollover safety and creature comforts like heated and cooled seats mean that modern convertibles are more versatile and better to drive than ever before. Yet the segment's sales took a dive during the recession and haven't come back, Automotive News reports.
Part of that is because automakers are looking at today's more sensible buyers and simply not developing as many new models, and that lack of fresh iron is curbing sales. AN cites R.L. Polk data which notes that only about one percent of new vehicles registered in the US last year had tops that folded. Back in 2009, it was 1.4 percent, and it was 2 percent in 2006. All-in, some 151,636 convertibles were registered in 2012. That's more units more than were registered in each of the past three years, but the market has also grown as the economy has picked up speed, and as a percentage of new vehicles purchased, convertible sales are lagging.
Thus far in 2013, the Ford Mustang is America's top-selling convertible, with 6,421 units registered through the end of April, followed by its rival, the Chevrolet Camaro, at 4,751 units. The Volkswagen Beetle isn't far behind, with 4,305, but from that point, it's a steep drop off to the fourth-place Mercedes-Benz SL-Class and its 2,380 sales.

Bodie Stroud seriously updates the 1956 Ford F-100 into the BSI X-100

If you thought pickups could use a lot more love in the resto-mod world, then Bodie Stroud – he of "The Real Thing" Mustang – has something for you: the BSI X-100. His team starts with the body of a 1956 Ford F-100, but the sheetmetal is about all the nostalgia you're going to get; the body, tweaked with a chopped hood and a larger rear window on the cab, sits on a custom steel ladder-frame chassis. Out back is a one-piece, tubbed bed, and behind that are taillights from a 1948 (gasp!) Chevrolet. Under that hood is either a 412-horsepower, 5.0-liter Ford Racing Coyote crate engine, or a supercharged, 6.0-liter, 630-hp Ford Racing Aluminator motor, shifting through a Ford 4R70W four-speed automatic. Inside, the dash is reworked to fit gauges from a Ford F-150 King Ranch Edition, and the bench is swapped out for buckets from a Mustang GT. The independent front and four-link rear suspension are adjustable, helping to make room for staggered wheels - 19 inches in front, 20 inches in back, and larger can be accommodated. Six-piston Wilwood brakes handle the stopping. There's a lot of fabrication and hand-work involved, and it doesn't come cheap: BSI says the turnkey package starts at $180,000. If you've got it, this is an exceptional way to flaunt it. The press release below has all the details. THE BSI 1956 X-100: TIMELESS LINES, MODERN TECH New pickup from Bodie Stroud Industries melds the iconic style of the 1956 F-100 with a cutting-edge chassis and drivetrain to create a hand-built, all-new truck with the performance and reliability of a modern sports car. Sun Valley, Calif. (March, 2015) – In an era when anyone can walk into a dealership with good credit and a yearning to go fast and drive out in a 500+ horsepower sports car, owning and driving something truly unique has become a challenge. With that in mind, the craftsmen at Los Angeles-based Bodie Stroud Industries (BSI) have come up with something truly special – a brand new line of hand-built, turn-key pickups with the looks and sheet metal of an American icon, subtly massaged and fitted to a modern chassis and powered by the latest engine, transmission and electronics from Detroit. The result is the world's first all-new, turn-key 1956 Pickup: the BSI X-100. "When most people think about classic trucks, what comes to mind is usually the 1956 F-100, it's one of the most timeless designs of all time," says BSI founder Bodie Stroud.