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It's Official: Ford Names Mark Fields Its Next CEO

Alan Mulally, the man who transformed Ford Motor Co. from a dysfunctional money-loser to a thriving company, will retire July 1 and be replaced by Mark Fields, the current chief operating officer. During his eight-year tenure at Ford, Mulally gambled all of the company's assets on a credit line that kept Ford out of bankruptcy, then used a simple "One Ford" plan to change the company's culture. He was hired away from aircraft maker Boeing Co. in 2006 by Bill Ford, who at the time was running the company. Fields, 53, has been in charge of Ford's daily operations since December of 2012 and was widely expected to one day ascend to the top job. The change in leadership is taking place about six months ahead of schedule, but Ford said that was based on Mulally's recommendation that the new leaders were ready. "Alan and I feel strongly that Mark and the entire leadership team are absolutely ready to lead Ford forward, and now is the time to begin the transition," Bill Ford said in a statement Thursday morning. Bill Ford, the company's executive chairman, is the great-grandson of company founder Henry Ford. Mulally, 68, was trained as an aeronautical engineer. He spent 36 years at Boeing - and was president of the company's commercial airplane division - when Bill Ford lured him to the struggling automaker eight years ago. Mulally overcame skepticism about being an outsider in the insular ranks of Detroit car guys by quickly pinpointing the reasons why Ford was losing billions each year. Mulally put a stop to the infighting that had paralyzed the company and instituted weekly management meetings where executives faced new levels of accountability and were encouraged to work together to solve problems. It took two years for Mulally to turn the company around, but since 2009, Ford has posted pretax profits of $34.5 billion and its shares have more than doubled. Fields was one of the executives passed over when Mulally got the top job in 2006. When he was named COO in 2012, Bill Ford said Fields' decision to stay at Ford and learn from Mulally showed a lot of fortitude and has made Fields a better leader. "There was a lot of speculation about whether he was capable. To his great credit, he stuck to it, he learned from it and showed tremendous fortitude in grinding through an incredibly difficult process," Bill Ford said. This marks the second change in leadership at the top of one of the Detroit automakers this year.

Ford idling Michigan Assembly Plant to trim Focus, C-Max supply

Ford will be putting the brakes on production at its Michigan Assembly Plant in Wayne, MI, idling production during the weeks of October 28 and December 16. Ford is citing the first drop in US sales in 27 months, a 4.2-percent dip in September, as the impetus for trimming their supplies, according to Automotive News.
Ford's deft management of its supplies has been part of its success over the years, and seeing supplies of Focus and C-Max, the two vehicles built at MAP, rise from 58 and 108 days, respectively, to 71 and 122 days over the span of a month was apparently all that was need to justify the trimming. As AN points out, the rule of thumb for many automakers is to maintain a 60-day supply of vehicles.
"Ford has been focused on keeping their pricing in check. Their operating margin is in double digits. Nobody else is there and they're obviously very proud of that," Alan Baum, an auto analyst with Baum & Associates told AN. Keeping the supply chain operating smoothly and not increasing supplies too much is crucial to that healthy profit margin. After all, a large supply lowers prices ,which, in turn, cuts profit. So while this news might not be great for employees at MAP, who now have an extra two weeks of vacation time, it's far from a sign of problems in Dearborn. Quite the opposite, actually.

Galpin-Fisker Rocket shows up topless in Monterey

The Rocket Coupe, introduced at the Los Angeles Auto Show last year, was a collaboration in reimagination carried out by designer Henrik Fisker and Galpin Auto Sports on a Ford Mustang. The next version of that concept has come to Pebble Beach in the metallic red form of the Rocket Speedster Concept you see here. In this guise the Mustang convertible gets a speedster tonneau cover that runs all the way to the front seat headrests, covering the back seats. As with the rest of the bodywork the cover is fashioned in carbon fiber, portions of it visible in places like the stripes running along the hood from the hexagonal grill to the tonneau, and the exposed carbon fiber air ducts that are mesh-filled to improve airflow through the cabin. And yes, it still has that nose. Underhood is a supercharged 5.0-liter V8 with 725 horsepower, all that cavalry brought to a stop by 15-inch Brembo Gran Turismo brakes up front tucked behind 21-inch custom wheels. Although it is labeled a concept, it too will go into limited production like its hardtop forebear. The press release below has the info, the gallery above has the goods. Related Video: GALPIN FORD AND HENRIK FISKER UNVEIL ROCKET SPEEDSTER CONCEPT AT 2015 PEBBLE BEACH CONCOURS D'ELEGANCE Acclaimed Automotive Designer and Visionary Customizer turn the Ultimate Mustang into a Stunning Speedster MONTEREY, Calif. (August 15, 2015) – Galpin Auto Sports and Henrik Fisker unveiled the latest iteration of the "Ultimate American Muscle Car" today at the 2015 Pebble Beach Concours d'Elegance; the 2015 Rocket Speedster Concept. Following a short drive onto the legendary Pebble Beach Concept Lawn, Henrik Fisker and Galpin Motors President, Beau Boeckmann introduced the convertible carbon fiber-bodied super-Mustang, intended for low-volume production. The car was featured as one of only a few special designer cars in front the Lodge at Pebble Beach. Featuring a fully integrated carbon fiber speedster cover that transforms the four-seat convertible into a two-seat speedster, this new edition Rocket maintains exceptional visual drama and performance with the top up or down. As with the Rocket Coupe, the Concept carries a carbon fiber hood feeding air into the supercharged 725-hp V8 engine through two sculpted air intakes, aiding the grill and front splitter in maintaining optimal cooling and aerodynamics. Constructed by GFMI Metalcrafters, Inc.