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2015 F-150 launch to curb Ford profits?

Ford is making a big bet on aluminum with its new 2015 F-150, and it's possible that the decision will hurt the company financially, at least in the short term. After earning a record $8.6 billion in 2013, the Blue Oval does not expect to set another record in 2014. According to Automotive News, that's "largely attributable to F Series," says Bob Shanks, Ford's Chief Financial Officer.
To retool for the new F-150, Ford will idle its Dearborn Truck Plant in Michigan for 11 weeks and the Ford Kansas City Assembly Plant in Missouri for 2 weeks. "3 of the 13 overall weeks occur during what normally is our summer shutdown timeframe," said Mike Levine, Ford Trucks Communication Manager, in an email to Autoblog. The extra 10 weeks will be preparing for the more aluminum-intensive construction for the trucks and will mean over 2 months of no F-150s being made. For comparison's sake, Chrysler boss Sergio Marchionne just confirmed that the 200 plant in Sterling Heights, MI will be down for 30 days to retool for the new model, but obviously there are many more F-150 production variables than for the midsize sedan.
Levine notes that Ford is already running three shifts at both plants, and says the automaker has plans to ensure that there is adequate supply of the full-size pickups during the retooling process. The company does not want to suffer a shortage of the vehicle that accounted for 31-percent of its 2013 US sales and an even bigger percentage of its profits.

With contract expiration days away, UAW targets GM first for negotiations

The United Auto Workers union on Tuesday said that it would target General Motors as the first of the Detroit automakers for talks ahead of the current four-year contract's expiration on Sept. 14. This year's contract talks between the union and GM, Ford and Fiat Chrysler Automobiles NV are expected to be contentious as U.S. new vehicle sales are slowing and automakers face rising costs associated with the development of electric vehicles and self-driving cars. Rising healthcare costs, job security, profit sharing and the use of temporary workers are expected to be major sticking points. GM in particular has been a target of union ire since announcing the closure of five North American plants late last year. That move drew a wave of criticism, including from U.S. President Donald Trump. Trump has repeatedly prodded GM and last week said the No. 1 U.S. automaker should begin moving its operations in China back to the United States. "We are prepared and we are all ready to stand up for our members, our communities and our manufacturing future," UAW President Gary Jones said in a statement. In a statement, GM said, "We look forward to having constructive discussions with the UAW on reaching an agreement that builds a strong future for our employees and our business." The contracts come at a difficult time for the UAW, as a federal corruption investigation into the union continues to grow. Last week, the FBI conducted searches at Jones' home, a union retreat and multiple other locations, including the home of the union's previous president, Dennis Williams. To date, seven people linked to the union and the automaker have been sentenced in the government's corruption investigation. Reporting by Nick Carey.

1994 McLaren F1 LM-Specification fetches $19.8M at Monterey

The botched sale of that World War II-era 1939 Porsche Type 64 may have somewhat overshadowed the RM Sotheby’s auction last weekend at Monterey, but the event wasnÂ’t without its highlights. Exhibit A: The one-of-two 1994 McLaren F1 LM-Specification supercar that we told you about a month ago netted a whopping $19.8 million at the RM SothebyÂ’s auction last weekend in Monterey, and an almost equally rare 1965 Ford GT40 Roadster Prototype also netted seven figures.  The F1 is one of 106 examples ever built and one of just two in LM-Specification (the LM stands for “Le Mans”). McLaren upgraded the standard F1 at the factory post-production, adding a 680-horsepower GTR engine, an extra-high downforce coachwork kit highlighted by the massive rear wing, race-spec dampers, two more radiators and so forth. It also gained a more comfortable interior and creature comforts, with an upgraded air conditioning, radio, new headlights and a different steering wheel. Finally, the exterior was given a coat of silver paint, replacing the factory blue. Four bidders spent four-and-a-half minutes trying to outbid one another for the car, which eventually went to an unidentified American private collector. Also successfully auctioned on Friday: the 1965 Ford GT40 Roadster Prototype for $7.65 million, which fell right in line with expectations of between $7 million and $9 million. It helped pave the way for the Mark IV race cars that won the 24 Hours of Le Mans. As a reminder, it was the first of five GT40 Roadster Prototypes ever built, with seven hardtop versions also built, and it underwent a full restoration in 1983 and a mechanical overhaul in 2003. And it sure is pretty to look at.