Volkswagen has named a former Ford and GM executive to lead the German automaker’s ambitious growth plans in the U.S. Get the full story »
Ford Motor Co.
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Ford summons dealers to discuss Lincoln’s future
Ford Motor Co. will host a meeting for its Lincoln dealers in early October to discuss its plans for re-energizing a brand that has long trailed luxury market competitors such as Cadillac and Mercedes. Get the full story »
Post clunkers funk hits August auto sales
Auto sales, once a bright spot in the economic recovery, grew fainter last month.
The pain was widespread. Big car companies General Motors, Ford and Toyota all saw sales slip. Smaller automakers like Subaru suffered too, as did companies that appeal to the budget minded, such as Kia and Hyundai. Get the full story »
Interceptor police SUV to be made in Chicago
From WBBM Radio | Ford is announcing today that its plant on Chicago’s far South Side will begin making the new Police Interceptor utility vehicle, designed to have at least 20 percent better fuel economy than the current Crown Victoria police vehicle.
Ford recalls 575K Windstar vans
Ford says it is recalling 575,000 older model Windstar vans in the United States and Canada over concerns that the rear axles can corrode and potentially break.
The recall covers vehicles in the model years 1998 to 2003 sold in states where the heavy use of road salt can cause more corrosion. That includes Canada, New England, the Mid-Atlantic states and the Great Lakes region.
Ford resumes Fiesta shipments after parts glitch
Ford Motor Co. has resumed shipments of the Fiesta after temporarily halting them over a faulty part.
Ford puts exec. chairman back on the payroll
After a five-year wage freeze, Ford Motor Co. Executive Chairman Bill Ford Jr. is getting paid again. It’s another sign that the automaker founded by his great-grandfather Henry Ford is healthy enough to award its top executives generous pay packages.
Bill Ford will be paid $4 million in salary and in stock options with a current value of $11 million to $12 million. The total represents pay he has earned over the last two years.
At Ford plant, Obama says his plan saved industry
President Barack Obama today told workers at a South Side Ford plant that his bailout push helped save an “industry on the brink.” More » Get the full story »
Ford, GM see car sales rise slightly in July
U.S. auto sales ticked higher in July in an uneven recovery that left Toyota Motor Co. and Honda Motor Co. sputtering with declines from strong year-earlier results.
By contrast, the two U.S. automakers run through government-funded bankruptcies last summer, General Motors Co. and Chrysler, posted sales gains of 5 percent each.
Ford Motor Co. only kept pace with a 5 percent gain excluding results for its now-sold Volvo brand, disappointing investors who had hoped for an outsized gain for the only U.S. automaker to have avoided a bailout. Get the full story »
China’s Geely completes purchase of Volvo
Geely Holding Group completed its acquisition of Ford Motor Co.’s Volvo unit Monday in a $1.5 billion deal that gives the small-but-ambitious Chinese automaker a global brand and huge management challenges.
Tenneco rides auto sales rebound to solid 2Q profit
Auto parts maker Tenneco Inc. on Thursday posted a second-quarter profit that surged past Wall Street expectations, as auto production rose by 72 percent in North America, its largest market.
Tenneco shares rose more than 6 percent in morning trading, to $25.61. Get the full story »
China reportedly OKs Geely purchase of Volvo
China’s regulator has approved Geely’s acquisition of Ford’s Volvo unit, clearing one of the last remaining hurdles to the high-profile deal, a source with knowledge of the matter said Thursday.
The deal could be completed as early as next week, said the source, who spoke on the condition of anonymity as the discussions remain private. Get the full story »
Ford unveils 2011 Explorer
For 2011, Explorer gets a lower profile and improved fuel economy.
The 2011 Ford Explorer was revealed in rock-star fashion this morning on stage at Millennium Park, bursting through a faux wooden crate stamped “Chicago” as vamping guitar music played.
“I believe it’s the most dramatic reinvention yet,” said Bill Ford, executive chairman of Ford Motor Company.
Governor Pat Quinn said there was competition to bring the vehicle to Chicago, a move that will bring 1,200 jobs to the South Side assembly plant here. Get the full story »
Lincoln MKZ hybrid to cost same as gasoline car
When the Lincoln MKZ Hybrid sedan goes on sale in the fall, the price will probably surprise a lot of people. The sticker price will be $35,180 — exactly the same as the non-hybrid version of the car.
Hybrid cars generally cost considerably more than non-hybrid versions of the same car. In many cases the extra cost of the car can cancel out what the owner saves on gas. Get the full story »
