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William Clay Ford Sr. dead at 88

William Clay Ford, retired vice chairman of Ford Motor Company and the last surviving grandchild of company founder Henry Ford, died this morning after a bout with pneumonia. He was 88.
Ford spent 57 years with his grandfather's company, joining the board of directors in 1948 before graduating from college. Ford also held a position as chairman of the design committee, as well as the chairman of the executive committee and vice chairman of the Board of Directors during his tenure with the company. In a 2013 Detroit Free Press story, retired CFO Allan Gilmour said Ford had an eye for design, and was once able to pick out when a fiberglass model of a Ford Contour was asymmetrical, off by an inch on one side. He retired and assumed the position of director emeritus in 2005.
"My father was a great business leader and humanitarian who dedicated his life to the company and the community," said Bill Ford, Jr., Ford's current executive chairman. "He also was a wonderful family man, a loving husband, father, grandfather and great-grandfather. He will be greatly missed by everyone who knew him, yet he will continue to inspire us all."

2013 Shelby 1000 unleashes its 1,200 horsepower ahead of NY show reveal

True story: Last fall, I had the opportunity to spend a week with Ford's new 2013 Shelby GT500 - the Blue Oval's factory Mustang with 662 horsepower and 631 pound-feet of torque. It's an amazing beast, to be sure. I'm not sure if it was Michigan's damp streets strewn with potholes and wet leaves, but at no point did I ever say to myself, "You know, Ford is on to a really good thing here, but what it really needs is about twice the power." And yet, for people in warmer climes with infrastructure in better nick - or for those whose muscle cars live their lives out on the track, there's apparently sufficient demand to warrant just such a beast.
Quick studies will recall that Shelby American launched its 1000 last year to commemorate its 50th anniversary, but it is returning to the New York Auto Show with a fresh version based on the 2013 GT500 I drove. The 2013 Shelby 1000 whips up 1,200 horsepower on pump gas thanks to beefed-up forced induction, engine internals and cooling. Wisely, it also incorporates an adjustable suspension and big brake package to make sure those ponies have the best chance being safely deployed to the ground.
What price the world's most powerful "production" muscle car? $154,995 for starters - donor GT500 not included. What, no convertible variant?

Ford Model e losing billions as it says EV unit should be seen as startup

DETROIT — Ford Motor Co.'s electric vehicle business has lost $3 billion before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology. The figures were released Thursday as Ford rolled out a new way of reporting financial results. The new business structure separates electric vehicles, the profitable internal combustion and commercial vehicle operations into three operating units. Company officials said the electric vehicle unit, called “Ford Model e,” will be profitable before taxes by late 2026 with an 8% pretax profit margin. But they wouldn't say exactly when it's expected to start making money. Chief Financial Officer John Lawler said Model e should be viewed as a startup company within Ford. “As everyone knows, EV startups lose money while they invest in capability, develop knowledge, build (sales) volume and gain (market) share,” he said. Model e, he said, is working on second- and even third-generation electric vehicles. It currently offers three EVs for sale in the U.S.: the Mustang Mach E SUV, the F-150 Lightning pickup and an electric Transit commercial van. The new corporate reporting system, Lawler said, is designed to give investors more transparency than the old system of reporting results by geographic regions. The automaker calculated earnings for each of the three units during the past two calendar years. Model e had pretax losses of $900 million in 2021 and $2.1 billion last year, and it is expected to lose $3 billion this year. In the past two years Ford has announced it would build four new battery factories and a new vehicle assembly plant as well as spending heavily to acquire raw materials to build electric vehicles. By the end of this year, the company based in Dearborn, Michigan, expects to be building electric vehicles at a rate of 600,000 per year, reaching a rate of 2 million per year by the end of 2026. Ford Blue, the unit that sells internal combustion and gas-electric hybrid vehicles, made just over $10 billion before taxes during the last two years. Ford Pro, the commercial vehicle unit, made $5.9 billion during those years, the company said. For this year, Ford expects Ford Blue to post a $7 billion pretax profit, modestly better than last year. Ford Pro is expected to earn $6 billion before taxes, nearly double its earnings last year, Lawler said. Ford was to present the new structure, announced last March, to analysts and investors on Thursday.