OK, that’s scary. While we fully expect Ford to be Detroit’s last man standing, those are the exact same words uttered by the man who’s been busy ramming GM into an iceberg– repeatedly. Well, at least FoMoCo CEO Alan Mulally acknowledged the competition. “People aren’t going to buy cars from bankrupt companies when they have great choices.” Big Al’s “stay the course” cry is a bit more credible than Red Ink Rick’s; Ford tanked-up up on cash before the excrement and air movement device collided. But October’s sales results, and Ford’s next financial quarter, are going to be super-brutto. Here’s Automotive News‘ [sub] nutshell analysis: “During the first half of 2008, Ford lost $8.6 billion, and analysts expect further losses in the third and fourth quarters. In May, Ford abandoned its plan to restore profits in 2009. Since 1995, the company has shed U.S. market share annually. This year, its sales have plunged 18 percent.” So what the new new way Fordward? We “absolutely stay on this plan and restructure to get back to profitability as quickly as we can in this changing world,” Big Al soothed. “And continue to invest in the new products for near- and longer-term growth and value creation. We’re just going to do whatever it takes to do that.” Given that the Euro-Fords are still a year out and GM’s just delayed all its product plans, simply not dying is about as good as it gets for The Blue Oval Boyz. And it may well be enough.
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Even though I’ve given up on Detroit products, I do hope Ford survives.
My last ever Ford was a used Lincoln Town Car, and it was very problematical. So I’ve essentially a) given up on Ford (also GM and Chrysler, in that order) b) won’t bother buying used cars any more and c) aren’t fooled by “upscale badging” any longer.
Still my intense dislike for GM and Chrysler (read: total complete loathing) is not as intense for Dorf (“Ford spelled sideways = DORF”).
But then, I’m kind of a car history buff and it’s more difficult for my head to get around “no Ford Motor Company any more” than “no GM” and “no Chrysler”.
Well to be fair to Mulally, they have to say this.
If one of them admitted they were thinking about it, all hell would break loose.
But I have a fair amount of faith in them. Their cash pile is a lot bigger than GM’s, and they are losing a lot less money, so its quite possible that between that and its share of the various bailouts, they truly won’t need to file bankruptcy.
Is that Joe (the) Plumber sitting next to Big Al, perhaps?
Can you see Kerkorian running out the door in the background? Shares flying out of his pockets as he tries to dump a load more today….
Kerkorian had to sell his Ford stock because his other holdings have been declining in value (particularly his stake in MGM), and he needed to raise cash fast.
Ford is in deep trouble – no argument there – but Kerkorian’s recent sale of his Ford stock says more about HIS financial condition than it does about Ford’s.
Ford and GM will just have to learn to survive with less market share. Ford has to concentrate on products it knows how to do, like the F-150 and the Mustang.
Maybe to increase sales more they could come out with models that appeal to a wider range of consumers ?. Models like a Shelby F-150, an Eddie Bauer Edition Mustang, an XLT Lariat Package Focus, a Roush Explorer, or a Saleen Edition Excursion.
Ford, here’s something that might help:
— Ford Mondeo
— Ford Focus (euro) including ST and RS available.. I don’t expect a dealership to stock them as they’re way more money than most americans will spend on a small hatchback (especially a Ford) but at least give us the option.
sell them here, sell them now.
Ford’s Mulally can’t catch a break. Notwithstanding doing things righter than his GM and Chrysler counterparts, it isn’t coming together for him. Just as he comes out with the Fusion, Edge and Flex, credible domestic designs all, and Consumer Reports starts making positive noises about improved Ford quality, $4 gasoline puts the kibosh on sales.
This is the same man who said they had no plans to dump Mazda. He is trying to appeal to the stock holders (those who are left).
menno,
Wasn’t Dorf the Tim Conway character with dwarfism? I think he played the role “chopped off at the knees.” Appropriate name for any of the domestic makers at this juncture.
Ford got some pretty decent press on reliability in this month’s CR, by the way.
ford will survive because:
1) the ford family still controls the company. if ford goes belly-up, so do they.
2) unlike the other ceo’s, mulally has a successful history of turning around a giant manufacturer.
3) for all their problems, ford is moving in the right direction product-wise.
4) gasoline prices are returning to earth.
fair disclosure: i am a small time ford stock holder and at $2/share i just bought more.