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by Ben PERRY Agence France-Presse LONDON, United Kingdom (AFP) — Thousands of auto sector jobs are set to go across Europe, Jaguar Land Rover and Ford announced Thursday, under major restructuring as consumers dump diesel cars for greener electric vehicles. Brexit-facing JLR will axe around 4,500 mostly UK jobs, the Indian-owned carmaker said, after a slump in Chinese sales last year. US carmaker Ford said it planned a major restructuring of its European operations, including […]
NEW YORK, United States (AFP) — Ford reported a sharp drop in second-quarter earnings Wednesday and cut its full-year profit forecast, citing weakness in Europe and Asia Pacific. The company also signaled it expects large additional costs associated with a reorganization, a move that will likely deepen questions about the automaker’s strategy. Net income sank 47.9 percent to $1.1 billion. Revenues fell 2.3 percent to $38.9 billion. Ford said its performance remained strong in North […]
by Nova SAFO Agence France-Presse CHICAGO, United States (AFP) — Bill Ford Jr., the great-grandson of the American car-maker’s founder, stood in front of thousands Tuesday in Detroit, with an abandoned train station in the background, and entwined the company’s future with that of the dilapidated building behind him. “This station is a symbol,” Ford declared. “We’re making a big bet on our future.” The company — one of America’s “Big Three” automakers — bought […]
DETROIT, United States (AFP) — Ford on Tuesday projected 2017 earnings below the level expected by analysts and said results this year would be even lower. The second-biggest US car company forecast adjusted earnings per share of $1.78, five cents below analyst expectations, according to data released ahead of a presentation by Ford chief financial officer Bob Shanks at the Deutsche Bank auto conference Tuesday night. Ford blamed “external headwinds” including high commodity costs and unfavorable exchange rates […]
by John Biers Agence France-Presse NEW YORK, United States (AFP) — Automakers were on track Wednesday to report the first annual decline in US sales since the financial crisis, a dip offset by continued strength in the sales of trucks and other large vehicles. The three leaders in the US market — General Motors, Ford and Toyota — all reported modest declines Wednesday in annual sales compared with 2016, a record-setting year for the auto […]
by Joseph Szczesny Agence France-PresseDETROIT, United States (AFP) — The United Auto Workers chief on Wednesday blasted Ford’s decision to send production of electric vehicles to Mexico, out of its home base in Michigan. UAW President Dennis Williams also complained that the massive tax bill approved by Congress on Wednesday failed to provide funding to key investments to make the US more competitive. “I’m not happy with Ford,” Williams told reporters at the union’s headquarters. “I think we’re […]
by Heather SCOTT Agence France-Presse WASHINGTON, United States – Ford Motor Company shook up its top management Monday, ousting its CEO amid declining sales in major markets, pressure to ramp up technology and a flagging share price. The company named Jim Hackett, who launched and led the high-tech division developing Ford’s self-driving cars, to replace Mark Fields as president and CEO. It also named three new executive vice presidents to oversee global markets, global operations and mobility […]
(REUTERS) Ford Motor Co plans to offer a fully automated driverless vehicle for commercial ride-sharing in 2021, the automaker announced Tuesday, expanding its efforts in driverless cars and ride sharing – two areas where rivals have already made inroads. To help speed development of self-driving cars, Chief Executive Mark Fields said Ford is hiking investments in Silicon Valley technology firms, tripling its investment in semi-autonomous systems, and more than doubling the size of its […]
By Robert Capistrano BARCELONA, Spain (Eagle News)– The newly revealed battle cry of the mobile industry, ‘Mobile is Everything’ has been splattered everywhere at the Mobile World Congress with its official start onFebruary 22, 2016. The Mobile industry operators, developers and internet companies present at the biggest, showiest annual event of the mobile world prove just that to the estimated 100,000 visitors. On Day 1, as expected, the mobiles fought […]
In the heart of western Europe, the Belgian-Dutch-German rust belt has been dealt another blow. Two car plants closed this month as companies sought cheaper labor elsewhere, the final chapter of a manufacturing boom that began when coal mines fuelling Europe’s industrialization shut in the 1960s. Now the region straddling three borders is trying to reinvent itself. A 315 billion euro EU investment plan, announced on Thursday, is the latest potential help. It aims to […]
Ford recalls older model Escape and Mercury Mariner hybrids DETROIT Fri Sep 12, 2014 10:23am EDT 0 Comments inShare Share this Email Print The logo of a Ford Escape hybrid vehicle is shown at the Ford Motor Company assembly plant in Claycomo, Missouri. March 20, 2007. Credit: Reuters/Jason Reed (Reuters) – Ford Motor Co (F.N) is recalling about 74,000 older model Ford Escape and Mercury Mariner crossover vehicles because the electronic hybrid system may overheat, […]
(Reuters) – Ford Motor Co (F.N) is recalling nearly 160,000 Focus ST sedans and Escape crossovers from model years 2013-2014 to correct a wiring problem that could affect engine performance, the company said on Friday. There are no crashes or injuries attributed to the problem, Ford said. It did not specify how many of each vehicle are covered by the recall. It is the 11th recall for the 2013 Escape. The compact crossover, one of […]
