By on May 22, 2017

Bill Ford and Mark Fields 2018 Ford F150 - Image: FordPrior to this morning’s announcement that outgoing Ford Motor Company CEO Mark Fields is “retiring,” Fields was in charge at the Blue Oval for nearly three years. Just a little more than ten quarters, to be more precise.

In eight of those quarters, Ford Motor Company U.S. market share declined, year-over-year.

Ford was not without excuse, of course. There was always market share to be taken if Ford wanted it. But an attempt to limit reliance on daily rental fleet sales, particularly with Ford’s passenger car division, did the automaker’s market share no favors. Ford’s transition from old F-150 to the new aluminum-bodied model was a major switch, too, and sales growth during the transition phase wasn’t easy to come by.

Nevertheless, Ford’s U.S. market share didn’t nosedive during the Mark Fields era. The burden on incoming CEO Jim Hackett’s shoulders won’t be the elevation of Ford Motor Company market share in the automaker’s home market.

No, it’s the price of a Ford share that matters right now. (Read More…)

By on May 22, 2017

Mark Fields, Image: Ford Motor Co.

Mark Fields has reportedly been fired from his position as CEO of Ford Motor Company, to be replaced by a man he appointed as head of the automaker’s mobility subsidiary.

According to Forbes, the company will announce the appointment of Jim Hackett as CEO this morning, part of a broader shakeup of the company’s upper ranks. Hackett, former CEO of Steelcase, served on the automaker’s board for three years before being named head of Ford Smart Mobility LLC in March, 2016.

Fields, a 28-year Ford veteran who replaced Alan Mulally in mid-2014, was reportedly booted by the company’s board amid a continued decline in share values. Two weeks ago, the CEO was grilled by board members and shareholders alike over the direction he has taken the company. (Read More…)

By on May 17, 2017

Mark-Fields (Image: Ford)

A day after media reports described an impending mass layoff of Ford Motor Company employees, the automaker has clarified who gets to keep a job.

While the scale of the job reductions is less than previously reported — a 10-percent global workforce reduction is off the table — Ford does plan to cull its salaried North American and Asian workforce by one-tenth in a bid to cut costs.

The move comes after last week’s tense shareholders meeting during which investors and analysts grilled CEO Mark Fields over the company’s sinking market valuation. Since taking the helm three years ago, Fields has seen the company’s stock price sink by roughly 40 percent. Hourly workers aren’t affected by the plan, though the same can’t be said for white-collar employees. (Read More…)

By on May 16, 2017

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The Ford Motor Company is allegedly preparing for a sweeping reduction of its global workforce. Harder days for the auto industry have been a long time coming, but reports claim the impending layoffs are specifically related to shoring up finances and turning around the company’s lagging stock valuation — meaning Ford could be the canary in the coal mine or a lone company desperate to bolster its own profitability and get angry shareholders off its back.

While the automaker has not yet confirmed the cuts, there is every indication an announcement will be made soon. When confronted with the matter, representatives have been careful to make noncommittal statements and doubly cautious not to deny anything.

“We remain focused on the three strategic priorities that will create value and drive profitable growth, which include fortifying the profit pillars in our core business, transforming traditionally underperforming areas of our core business and investing aggressively, but prudently, in emerging opportunities,” Ford said in an official statement. “Reducing costs and becoming as lean and efficient as possible also remain part of that work. We have not announced any new people efficiency actions, nor do we comment on speculation.”  (Read More…)

By on May 11, 2017

ford logo

As anticipated, Ford CEO Mark Fields was grilled today over his plans to improve the company’s waning fortunes by board members who had scheduled extra time to question him.

Hot topics at the annual meeting centered on why profits are falling, what is Ford doing about the market shift toward SUVs, and how the company’s colossal investments into technology are affecting its present-day financial situation. Ford has poured billions into self-driving vehicles and ride-sharing platforms as its traditional car business loses some ground to General Motors in a slowing U.S. market. Fields spearheaded Ford’s rebranding as a mobility company, but many have suggested this future-focus isn’t healthy for the brand.

Fields stuck to his guns, emphasizing that Ford was heading “aggressively but also prudently” into “the biggest strategic shift in the history of our company.”  (Read More…)

By on May 10, 2017

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The board of directors at Ford Motor Company will be seeking answers from CEO Mark Fields on how the brand’s mobility strategy played a role in its lackluster annual earnings report. Inside sources claim board members made extra time leading up to Thursday’s annual shareholders meeting to discuss the company’s future with the CEO.

Fields has promoted Ford’s evolution into a mobility company ever since taking the helm in 2014 — something investors haven’t been particularly receptive of. During Fields’ tenure as CEO, shares in the company have fallen by 35 percent. However, with tech-focused companies typically receiving above-average valuations, the methodology behind his strategy appears sound. Ford has spent billions on the development of autonomous technology and showcased mobility concepts that even Tesla hasn’t bothered with.

While many seem too impractical or far-fetched to deserve serious attention, the capital behind its self-driving efforts have kept Ford near the front of the pack in the autonomous race. So, what’s the problem?  (Read More…)

By on April 9, 2017

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Ford’s Mark Fields had plenty of positive things to say about last week’s meeting between Donald Trump and Chinese President Xi Jinping. After spending months of his campaign accusing China of stealing American jobs, Trump left the conference optimistic at the prospect of improving the relationship between the two countries.

That’s welcome news for Ford, which wants to dramatically expand its presence in Asia over the coming years. The automaker has already decided to launch Lincoln models in the Asian market, hoping to piggyback off Buick and Cadillac’s success in China. On Thursday Fields also outlined a company decision to have 70 percent of all Ford nameplates sold in China by 2025 be part or fully electric — helping the company meet stricter emission standards and maintain volume in the East.  (Read More…)

By on February 6, 2017

Mark Fields, Image: Ford Motor Co.

Ford CEO Mark Fields used a potential worst-case scenario as the premise for his statements last month when he claimed new federal fuel economy rules would cost the nation one million jobs.

Independent industry analysts and environmental groups looked into Fields’ comments and found huge job losses were just one potential — and unlikely — consequence in a September report by the Center for Automotive Research, Automotive News reported.

(Read More…)

By on January 30, 2017

Mark Fields

Ford Motor Company chief executive officer and doomsday prophet Mark Fields thinks one million American jobs will be placed in peril if the country’s current fuel economy standards aren’t made more flexible.

The alarming scenario was given by Fields to President Trump himself at last week’s private meeting of U.S. automakers at the White House.  (Read More…)

By on January 24, 2017

White House, Washington DC

At the start of the second real workday of the Trump administration, the leaders of the Detroit Three automakers marched into the White House for a breakfast meeting with their newly minted president.

We don’t know for sure what they ate, but we can relate what they talked about. This won’t come as a shock: investment. Specifically, assembly plant investment in the U.S., rather than Mexico.

Ford CEO Mark Fields, General Motors CEO Mary Barra and Fiat Chrysler Automobiles CEO Sergio Marchionne knew the landscape they were entering. Yesterday, Trump signed an executive order that pulled the U.S. out of the Trans-Pacific Partnership and moved to renegotiate the North American Free Trade Agreement. Today, he signed an executive action to advance approval of the Keystone XL and Dakota Access pipelines.

Deals. Besides perhaps eggs and toast, Trump wanted deals. Or, at this early point, promises and assurances at the very least. (Read More…)

By on December 3, 2016

Mark-Fields (Image: Ford)

Ford Motor Company CEO Mark Fields doesn’t have kind words for the Environmental Protection Agency’s surprise decision to keep long-term fuel economy targets in place.

A mid-term review of corporate average fuel economy (CAFE) targets set in 2012 kicked off earlier this year, but the timing of the agency’s recent decision to maintain the 54.5 mile-per-gallon goal reeks of politics, Fields claims.

For automakers, reaching 54.5 mpg means extra costs. To avoid this, Ford is prepared to turn to its election campaign sparring partner — President-elect Donald Trump — for help. (Read More…)

By on November 16, 2016

Mark-Fields (Image: Ford)

There’s something about billions of dollars in investment and carefully planned long-term product strategies that make it hard for an automaker to turn on a dime in the face of a threat.

Ford Motor Company CEO Mark Fields says his company has no plans to reverse course on its goal of boosting production of cars and components in Mexico, even after President-elect Trump’s promise of a 35-percent tariff on vehicles crossing the Rio Grande.

It’s a game of chicken Ford intents to win. (Read More…)

By on March 21, 2016

2014 Jeep Wrangler

Americans might finally start to see a few of these so-called “Jeeps” roaming around their hometown.

That, Mark Fields can pick up everyone’s tab, eight (speeds) isn’t enough at General Motors, the Phaeton ends its long farewell, and GM Korea wants out of its slump … after the break!

(Read More…)

By on January 7, 2016

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Regulators may rain on Elio’s parade even before they got started.

That, Volvo takes a serious stab at full-size luxury conventional wisdom, the big get bigger and Ford’s hybrids only go so far … after the break!

(Read More…)

By on December 16, 2015

2015 Ford F-150

Ford will have a rear-wheel drive, hybrid F-150 truck by the end of the decade, Ford CEO Mark Fields told NPR on Tuesday.

“Well, we do have plans to have a rear-wheel drive hybrid truck but the end of the decade. So yes, we’re working on electrified F-series, and it’s really around a conventional hybrid,” Fields said during an interview.

The automaker announced earlier this month that it would invest $4.5 billion in electrification and will unveil a refreshed hybrid Fusion at the North American International Auto Show next month as part of that plan. The hybridized, full-size pickup will arrive by 2020, although the automaker doesn’t plan on total market domination for the truck — at least right now.

(Read More…)

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