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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."

EU formally questions French government assistance of Peugeot's finance arm

Recently, the finance arm of PSA/Peugeot-Citroën was in such debt trouble that it was pricing itself out of the car loan market. The rates it was paying to service its debt, which was rated one step above junk, were so high that it was forced to charge car-buying customers higher rates than they could find elsewhere. This was adding to Peugeot's already impressive woes by sending revenue out the door to competitors.
Two months ago a deal was worked out with the French government whereby the state would provide 7 billion euro ($9 billion USD) in bonds to guarantee the finance arm's loans. The French government could nominate someone to join the Peugeot board, Peugeot would guarantee more French jobs, and on top of that deal, other banks would provide non-guaranteed loans. The government would take no equity stake in the car company.
Although not yet finalized, the arrangement is meant to create some breathing room for Peugeot Finance to lower its interest rates for customers, and a government-nominated board member, Louis Gallois, was recently named to Peugeot's supervisory board. The arrangement was also openly questioned by at least three competitors: Ford, Renault - which is 15-percent owned by the French government after it received state aid - and the German state of Lower Saxony, itself a 15-percent shareholder in Volkswagen.

Ford Shelby GT350 shows off HUD shift light [w/video]

We're getting pretty geeked about the upcoming Ford Shelby GT350 as Ford continues the slow trickle of news about the upcoming Mustang track beast. To review: 526 horspower, optional carbon-fiber wheels, and a wicked exhaust note from the flat-plane crank V8. And the latest piece is a programmable shift light that projects onto the windshield The head-up display, officially called Performance Shift Light Indicator, throws a line of amber lights in front of the driver's line of sight. Chevrolet uses a similar system on Camaro and Corvette models with an optional head-up display. While the GM HUD offers additional information like vehicle speed and a tachometer, the Ford system is more customizable. Depending on which of three modes, the lights flash in different patterns: Tach mode moves left to right, Track mode moves from the outside to the end until it makes a solid line, and Drag mode flashes all the light when the rpm limit is his. On the Shelby, the Performance Shift Light Indicator settings are programmed through menus in the instrument cluster's multifunction display. Stay tuned for more GT350 news next week, and check out the full press release below. View 6 Photos Ford Shelby GT350 Gets Racing-Inspired Customizable Shift Light Indicator to Help Drivers Optimize Track Time • Shelby GT350® Mustang features Performance Shift Light Indicator display with Track, Tach and Drag mode • Performance Shift Light Indicator provides the benefits of a shift light while allowing drivers to keep their eyes on the track at all times • Heads-up shift light was developed by reimagining existing hardware and is standard on all-new Shelby GT350 and Shelby® GT350R DEARBORN, Mich., July 23, 2015 – When driving the high-revving, 526-horsepower Shelby GT350® Mustang, drivers would do best to keep eyes on the road. So that's where Ford put the Performance Shift Light Indicator. For decades, race drivers have used shift lights that signal the perfect engine speed for the shift point for maximum acceleration and lower lap times during the intensity of on-track driving. Shift lights allow drivers to concentrate on the road in front of them rather than watching a tachometer. However, most shift lights either obscure the forward field of view or are located low in the instrument cluster where the driver must look down to see it. The Performance Shift Light Indicator is a heads-up display located in front of the driver.