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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."

Ford CEO told Trump 1 million jobs at stake because of fuel economy regs

Bloomberg is reporting that Mark Fields, Ford's CEO, pushed President Donald Trump for market-driven national fuel economy standards, and that up to a million jobs could be at stake if those national regulations didn't take consumer expectations into account. Fields was reporting on his conversation with Trump in remarks made at the National Automobile Dealers Association in New Orleans, Bloomberg reports. The report also states that he and fellow CEOs Mary Barra of GM and Sergio Marchionne of FCA aren't seeking to eliminate fuel economy standards altogether, but rather to make them more flexible. Bloomberg reports that Fields didn't cite the studies he was referring to in support of his job loss figures, so we can't independently verify Fields' math at this time. But his push to stop selling cars consumers don't want – that is to say, more hybrids and EVs than consumer demand supports right now – is clear. We've already reported on that. To level an educated guess at what will happen next, Trump seems likely to reduce the stringent 2025 fuel economy targets, perhaps freezing them at current levels. The automakers are already invested in producing vehicles that meet current standards, and they also have to think about foreign markets like Europe that aren't likely to relax standards below current levels. If you consider economies of scale, automakers are likely to ask for federal standards that match global standards for their largest markets as closely as possible. We'll see if Trump buys Fields' math, but Ford isn't hedging its bets. Backing out of the Mexican assembly plant cost the company $200 million – not a huge sum compared to the total value of Ford, a massive company which had its second best year ever, but still an important gesture to Trump about Ford's priorities. Related Video: News Source: BloombergImage Credit: Bloomberg via Getty Images Government/Legal Green Fiat Ford GM Sergio Marchionne Mary Barra Mark Fields

Ford recalls 300,000 Crown Vics over lighting module

The Basics: Ford is recalling 312,814 units of the Crown Victoria and Mercury Grand Marquis sedans from the 2003-2005 model years. They were built at the St. Thomas Assembly Plant between Oct. 3, 2001, and Aug. 2, 2005. Ford says 296,004 of those units are located in the United States, with another 14,714 in Canada and 2,096 in Mexico. The Problem: The solder joints on the lighting control module could crack, depriving the headlamps of the power they need to light the way ahead. That could increase the risk of a crash, particularly at night and in other low-visibility situations. Injuries/Deaths: Ford reports that it is aware of 11 accidents that resulted from the problem, leading to one injury described as "minor." The Fix: The manufacturer is instructing dealers to replace the entire lighting control module. If You Own One: Make sure your headlights are working before getting under way. If they're not, avoid driving under low-light conditions, including at night, in heavy precipitation, or in fog. Ford Issues Three Safety Recalls and One Safety Compliance Recall in North America DEARBORN, Mich., Dec. 22, 2015 – Ford Motor Company is issuing three safety recalls and one safety compliance recall in North America. Details are as follows: Ford Motor Company issues safety recall for certain 2003-2005 Ford Crown Victoria and Mercury Grand Marquis vehicles to replace lighting control module Ford Motor Company is issuing a safety recall for approximately 313,000 2003-2005 Ford Crown Victoria and Mercury Grand Marquis vehicles to replace a lighting control module. The solder joints on the module could crack and interrupt power to the headlamps – increasing the risk of crash at night. Ford is aware of 11 reports of accidents and one report of a minor injury related to this issue. Affected vehicles include certain 2003-2005 Ford Crown Victoria and Mercury Grand Marquis vehicles built at St. Thomas Assembly Plant, Oct. 3, 2001 through Aug. 2, 2005. There are a total of 312,814 vehicles that might be affected in North America, including 296,004 in the United States and federalized territories, 14,714 in Canada and 2,096 in Mexico. Dealers will replace the lighting control module at no cost to the customer. Ford issues safety recall for certain 2016 Ford F-650 and F-750 vehicles to replace rear air brake chamber Ford is issuing a safety recall for 177 2016 Ford F-650 and F-750 vehicles to replace the rear air brake chamber.