Ford Motor Company

Business in Russia

Шаблон:Main 'Ford Motor Company Russia

Performance indicators

2023

8th place in car sales in the world

In the list of companies with the largest R&D costs

2022

Internet-Connected Cars Market Share - 5.6%

Net losses - $2 billion

At the end of 2022, Ford received net losses of $2 billion against $17.9 billion in net profit a year earlier. Such data are contained in the financial report published in early February 2023.

The company says that such serious losses are explained primarily by production difficulties and disruptions in the operation of supply channels. According to Ford CFO John Lawler, the company has underperformed its car sales plan by about 100,000 units, which corresponds to a lost profit of about $1 billion. Another $1 billion, according to Lawler, is lost due to excessively high costs and a poorly optimized structure. Therefore, in 2023, additional layoffs of employees are not excluded, primarily in the European market.

Our cost structure is uncompetitive. Our quality is not at the level it should be. And we will take appropriate action and make more sustained progress in both of these key areas for us in 2023, "John Lawler stated.

Ford's full-year results were further eroded by a $7.4 billion loss from its 9.5 percent stake in electric car maker Rivian Automotive. In addition, a loss of about $2.8 billion was recorded associated with the disbandment of the autonomous vehicle division Argo AI.

Ford's revenue in 2022 reached $158.1 billion against $136.3 billion a year earlier. According to this indicator, an increase of about 16% was demonstrated. Going forward, Ford promises to provide more clarity on its traditional business operations, as well as the activities of the electric vehicle division and the Ford Pro group, which is responsible for the implementation and service of the brand's commercial vehicles.^[1]

2021: Number of cars filed - 3,942,755

2020: Revenue cut 18%, to $127.1 billion, net loss $1.28 billion

At the end of 2020, Ford received revenue of $127.1 billion, which is 18% less than a year earlier. The net loss of the American manufacturer reached $1.28 billion, while in 2019 there was a net profit of $47 million.

The main reason for Ford's financial decline is the COVID-19 coronavirus pandemic, due to which car dealerships in many countries did not work at all for some time, and people began to restrain the cost of buying new cars, waiting for certainty in the situation with the spread and consequences of the infection.

In addition, a large-scale recall of cars due to problems with airbags, as well as a reorientation of a number of enterprises to the release of an updated F-150 model, had a significant negative impact on Ford's business.

Ford earned a total of $115.9 billion on the sale of cars in 2020, which is 19% less than a year earlier. The sales of vehicles in South America decreased the most - by 37%, to $2.5 billion. In North America, revenues decreased by 18% (to $80 billion), in Europe - by 20% (to $22.6 billion) in China - by 11% (to $3.2 billion).

Ford estimates its share in the global car market at 5.8%. In North America, according to the auto giant's own data, the figure is 13.2%, and in Europe and China - 7.2% and 2.4%, respectively. In total, Ford sold a total of almost 4.2 million cars in 2020, against 5.4 million a year earlier. In Europe, car sales from the company decreased from 1.4 to 1 million units, in North America - from 2.8 to 2.1 million units.

Thanks to car lending programs (Ford Credit direction), the company in 2020 raised $11.2 billion against $12.26 billion a year earlier. Another business area of ​ ​ the manufacturer is associated with Ford Mobility services. Revenues from them for the year increased from $41 million to $56 million.^[2]

History

2024

Ford and Mazda recognized a marriage of 475 thousand cars. Airbags in them explode and kill

In mid-August 2024, Ford and Mazda warned owners of more than 475,000 older cars to have a dangerous marriage involving Takata airbags. Failure of superchargers can cause serious injuries and even death of passengers. The warning applies to more than 374,000 Ford, Lincoln and Mercury cars produced from 2004 to 2014 and nearly 83,000 Mazda cars produced from 2003 to 2015. Read more here

Loss of $2.3 billion in three months due to recall of defective cars

In early August 2024, it became known that over the past few years Ford has launched many recall campaigns that negatively affected the financial performance of the American auto giant.

In early August 2024, the automaker reported second-quarter financial results and reported that recall and warranty costs for defective cars reached $2.3 billion over the past three months, costing the company $25.5 million a day. This is as much as $800 million more than in the first quarter.

Ford lost $2.3 billion in three months due to the recall of defective cars

The automaker has already implemented several initiatives to improve the quality of its products, but the results of these efforts are not yet noticeable. Ford attributes the increase in costs to the recall of cars released at the height of the COVID-19 coronavirus pandemic in 2021, and earlier, when supply chain problems and government-imposed restrictions affected automotive production around the world.

Ford in 2024 recalled more than 3.5 million cars of 37 brands, according to the National Highway Traffic Safety Administration's online data center. In this regard, it leads among all automakers, in second place is Chrysler, which in 2024 initiated the recall of more than 2.2 million cars in 36 operations.

Earlier in 2024, Ford said the company was working to improve the quality of the automaker, which is reflected in the company's internal affairs. It recalled 30% fewer cars in 2023 than it did in 2022, according to the automaker. However, more such results could not be achieved. The company is now holding cars to release to ensure they meet quality standards. According to CEO Jim Farley, this approach makes production difficult, but will reduce the company's costs over time.^[3]

2023

A new wave of cuts to save $3 billion

On June 22, 2023, it became known about a new wave of job cuts at Ford Motor. The company notes that the transition to the production of only electric cars (EV) will require significant changes in the production process.

According to the Wall Street Journal, the round of layoffs will take place during the summer of 2023. The cuts are expected to affect those who work in the electric vehicle division and in the company's software development department, as well as employees working in the gas engine part of Ford's business. Several thousand jobs will be cut against the background of the company's plans to reduce costs by $3 billion.

In a statement, a Ford Motor spokesperson told the publication that the recent moves are part of Ford Motor's ongoing business management, involving optimizing the global workforce to meet future business plans. All actions within the company are done to maintain competitiveness in the world and keep the cost of goods in the Ford Motor industry.

This round of layoffs follows the one that occurred in August 2022, as a result of which 3 thousand white collar and contract employees were reduced. At the beginning of 2023, Ford Motor also announced the start of cutting 3.8 thousand jobs in Europe, according to the Journal.

We are constantly saying that we will match staff to the skills and experience required to implement the Ford + growth plan and provide customers with leading products and services, a Ford spokesman told The Hill.

Ford Motor has joined rivals General Motors like parent Jeep - who Stellantis also announced staff cuts in early 2023. The move comes American as the automaker shifts its focus to EV products as Ford Motor pledged to spend $50 billion worldwide through 2026 to move forward with its new approach. The automaker also plans to carry out an internal restructuring of operations to separate its gas engine business from its electric vehicle and software-focused business.^[4]

1,300 staff cut as sales slump in China

Ford in May 2023 announced that it plans to cut 1,300 workers in China as sales in the world's largest auto market fall, local media reported.

2022

Company forced to lay off 40% of electric vehicle workers

In mid-November 2022, it became known that Ford could reduce its staff by 40% due to the start of mass production of cars equipped with a fully electric power plant.

According to Ford CEO Jim Farley, storm clouds loomed over the company in light of the plan to switch to electric vehicles. By 2030, half of Ford's global sales are expected to come from vehicles equipped with an electric motor. Such changes will require a comprehensive review of the company's organizational structure.

Back in July 2022, Mr. Farley said that Ford's staff was too large. After that, approximately 3,000 employees and contractors were reduced. However, the company's management continues to consider the company's cost structure "uncompetitive" compared to other automakers. As of the end of 2021, Ford had approximately 183 thousand employees.

Switching to electric cars will require less labor, because such cars are assembled from fewer parts than models with an internal combustion engine. Back in 2018, the United Automobile Workers Union (UAW) estimated that the development of electric transport could cost 35 thousand jobs out of the 400 thousand it represents.

Шаблон:Quote 'It takes 40% less labor to build an electric car, so...,' Jim Farley told a conference in Detroit. In other words, the Ford executive made it clear that large-scale cuts are inevitable. It was also noted that the company is developing a completely new diversified supply chain for key components for electric vehicles - batteries, electric motors and necessary electronics.^[5]

Recall of defective electric Mustangs that have crumbling running

On September 1, 2022, Ford announced the recall of the 2022 Mustang Mach-E electric vehicles because there is a possibility of their axles breaking down. According to the automaker, the production error affected the half-balls of the Mustang Mach-E right rear axle. Read more here.

Laying off thousands of employees who don't develop software and electric vehicles

At the end of August 2022, it became known that Ford Motor is laying off about 3 thousand employees and contractors who are not developing software and electric vehicles. The cuts will primarily affect the company's employees in the United States, Canada and India.

According to Reuters, Ford began restructuring to catch up with Tesla in the race to develop electric vehicles with advanced software control. Ford Chairman Bill Ford and CEO Jim Farley sent a memo on August 22, 2022 informing employees of the layoffs.

The automaker has too many people, according to Ford Motor Chief Executive Officer Jim Farley, and that not enough employees have the skills needed in the auto industry's transition to electric vehicles and digital services. Farley added that the company intends to reorganize and simplify functions throughout the business. You will learn more from the heads of your division on August 26, 2022.

{{quote 'To build a future, we need to change the way we have worked for over a century,' the letter said. And as we've discussed in recent months, that means reallocating resources and changing our cost structure, which is uncompetitive against traditional and new competitors... Restructuring the business ensures the distribution and more systematic use of all business resources, "said Ford Motor Chief Executive Officer Jim Farley. }} It's unclear how the cuts could be distributed between Ford Blue, which operates its internal combustion engine (ICE) vehicles, and Ford's Model E, which operates its electric vehicles. But it is known that staff reductions will affect all divisions of Ford Motor.^[6]

Fine of $1.7 billion for a fatal accident involving a defective car

In total, more than $1.7 billion will be paid by Ford Motor for a rollover accident in which a Georgia couple died due to a defect in the roof of the car. The decision to fine the automaker was made on August 19, 2022 after a two-week trial in Georgia in Lawrenceville. The outcome of the proceedings was reported to the media by Gerald Davidson, a lawyer for the family of the victims Melvin Hill and Voncile Hill.

A day earlier, the jury awarded $24 million in damages in their favor, saying that 70% of the blame for the fatal accident lies with Ford. According to Bloomberg, the verdict on the fine is one of the largest in the United States in 2022. The agency noted that at the time of publication of the news, Ford's press service did not respond to a request for comment.

The circumstances of the case were previously reported on the Courtroom View Network broadcast. The accident occurred in 2014, when the Hillow couple were driving from their farm in a 2002 Ford F-250 pickup truck. A tire burst in the car, the truck rolled over and crushed people. Family members of the victims claim that Ford knew about the insufficient strength of the roof of F-250 pickup trucks and that in the event of a rollover, it would not protect the people in the cabin. However, the automaker did not warn consumers about this and continued to produce cars with a defective roof structure until 2016.

We are very happy for this outcome of the case for the Hill family and are pleased that car safety is improving, "said Gerald Davidson.

Under Georgia laws, 75% of the proceeds from punitive damages judgments go to the state, with the rest distributed to plaintiffs and attorneys.^[7]

Cutting 4,000 office workers to save money

At the end of July 2022 American , the Ford Motor automaker intends to reduce more than 4 thousand office employees. The cuts will affect mostly the staff of the state-based North American automaker and are Michigan not expected to include workers at the plants.

Ford Motor plans to cut several thousand white-collar jobs as the company seeks to cut costs to prepare the company for the long-term transition to electric vehicles, The Wall Street Journal reported, citing informed sources. It is expected that in early August 2022, the automaker will unveil plans to eliminate more than 4 thousand jobs.

The cuts will affect all Ford F divisions, including engineering, marketing, trading and corporate functions. Many of the cuts, which could include buybacks and early retirement, are aimed at employees working on internal combustion-powered cars. According to Ford Motor's annual report, there are about 43,000 employees in North America.

Ford Motor needs to cut costs for part of its internal combustion engine business. Given the importance of these changes to the success of our scaling, we will not leave it on its own! A small team can move faster than a large team. Developing electric vehicles with software requires skills that go beyond the experience of most of the company's employees, said Ford Motor Chief Executive Officer Jim Farley.

The potential layoffs stem from a goal recently set by Chief Executive Officer Jim Farley to reach a pre-tax profit margin of 10% by 2026, up from 7.3% in 2021. Farley said that by this time he wants to reduce annual structural spending by $3 billion. The goal of staff reductions will be to optimize production costs, in the structure of which the wage fund occupies a significant part.^[8]

Ford recalls more than 100,000 defective hybrids that light up while driving

In early July 2022, Ford announced the recall of more than 100,000 2020-2022 Escape, Maverick and Corsair cars in the United States, which are equipped with a 2.5-liter hybrid/plug-in hybrid (HEV/PHEV) engine due to the risk of fire. Read more here.

Recall of 48,000 electric crossovers that suddenly stop while driving

On June 14, 2022, Ford announced the recall of more than 48,000 Mustang Mach-E electric crossovers due to fears that a safety defect could make the car motionless. The malfunction is due to the possible overheating of the car's high-voltage battery contactors, which can lead to the car not starting or losing power while driving. Read more here.

Split into two companies: Ford Blue and Ford Model E

On March 2, 2022, Ford announced a restructuring that would split the U.S. automaker into two companies:

• Ford Model E (electric vehicle production);
• Ford Blue (production of traditional internal combustion engine machines).

Read more here.

2021

Investment plan $316 million in the production of car kits in Britain

In October 2021, it was announced that Ford will invest $316 million in the production of parts for electric vehicles at a factory in Britain.

• The decision comes after the British government promised financial support.
• The Halewood transmission plant will produce powertrains from 2024.

Plan to build three U.S. plants to manufacture batteries and assemble electric pickup trucks

In September 2021, it became known that Ford Motor Co. and South Korean SK Innovation Co. plan to spend $11.4 billion on the construction of three battery factories and an assembly plant for F-Series electric pickups in Tennessee and Kentucky, which will be the largest investment in the history of the American automaker.

Ford will spend $7 billion, dollars while SK's battery partner will invest $4.4 billion.

The projects are part of Ford's plan to invest $30 billion in electric vehicles by 2025 to become a player in a market dominated by Tesla and challenge General Motors' image as a leading automaker.

Former Apple auto business chief is Ford's new head of software and digital development

In early September 2021, Ford hired former AppleDoug Field as chief advanced technology and embedded systems officer. Read more here.

Purchase of electric vehicle fleet management software developer Electriphi

In mid-June 2021, Ford bought a developer software to manage the parks. electric vehicles Electriphi Financial terms of the transaction are not disclosed. More. here

Stopping multiple businesses

In April 2021, Ford Motor announced the shutdown of a number of its enterprises around the world. The greatest period of downtime will affect Ford's joint venture in Turkey - the Otosan plant. It will stand from April 19 to June 3 this year. Key car kits for the production of a Ford Transit minibus in Yelabuga come to Russia from the Turkish Ford Otosan plant. Units and units, parts of complex stamping, which the Russian plant cannot perform, come to Tatarstan.

2020

In the list of the fastest cars in the world

Ford Motor capitalization for November

2019

Acquisition of Quantum Signal

On August 1, 2019, Ford Motor Company announced the acquisition of robotics company Quantum Signal to accelerate the launch of the self-driving car development and production business area. Read more here.

Ford's development based on C-V2X for road safety and efficiency

In June 2019, Ford demonstrated two projects as part of the study of the possibility of using the technology C-V2X (Cellular Vehicle-to-Everything) - a wireless exchange system data between transport funds and road facilities. infrastructures Developments based on C-V2X are designed to increase safety the efficiency of road traffic, as well as contribute to development. autonomous cars More. here

2018

Application of NASA Quantum Computer to Solve Transport Problems

On December 5, 2018, Ford, as part of the next project, will develop comprehensive route maps for diesel trucks that will help maintain the normal operation of particulate filters. The company is actively mastering modern technologies that prepare the ground for large-scale changes in the field of movement of people and goods. In addition to electrification and self-driving cars, there are other developments that also have huge potential to transform the transport system.

One such technology is quantum computing, which allows you to process a huge amount of information much faster than ordinary ones can do. In computers 2019, the company will gain access NASA to the artificial intelligence Quantum Artificial Intelligence Lab at the Ames Research Center in Silicon Valley, which also conducts research Google and the Association of Universities USA in the field of space exploration. Ford specialists, together with NASA representatives, will work with a computer operating on the principle of quantum relaxation (quantum annealing), which will help solve the most difficult problems. The capabilities will be quantum computing applied to the development of solutions in the field of managing large car parks.

Diesel particle filters (DPFs) of diesel engines filter particulate matter in exhaust gases. The condition of the filters must be monitored to ensure the efficient operation of the vehicle and compliance with environmental standards. Certain modes of movement help to keep the filter in operation: in order for the carbon black-clogged DPF to self-clean (solid particles burned), it is necessary to maintain a constant high speed for a certain time.

However, in urban conditions, the route of diesel transport most often consists of short sections that the car passes at low speed, at which self-cleaning of the filter is impossible. Traffic features affect the efficiency of the filters and, ultimately, the engine itself. As part of the study, Ford will develop an optimal route for a single truck delivering with many stops on the way. In the future, a similar scenario will be used to calculate routes for all vehicles in the fleet at once.

There are many complex variables in such a problem. When developing a planning system with numerous loading and unloading points, any selected location will have its own effect on traffic congestion indicators, time management and human behavior. Modern traditional methods of calculation allow you to simulate all this for a limited number of machines and locations.This is a limitation and will help overcome quantum computing.

Unlike traditional computation methods, which translate information into binary number system format, a quantum computer can present information in many different states. He can even imagine something that exists in several states at the same time. This means that unlike a computer bit that allows only 1 or 0, a qubit can also be both at the same time. This can be imagined as two bulbs, one controlled by a traditional switch, and the power of the other can be smoothly adjusted using a rheostat. The qubit allows you to store more information than regular bits, as well as process it simultaneously.

Working with NASA will include translating all possible options into qubits in order to calculate the effectiveness of each model and choose the best.

Ford is convinced that quantum computing can be used not only for route planning. They can influence a number of other areas as this technology develops - including the development of materials, the production and optimization of the chemical composition of batteries.

Purchase of Spin electric scooter rental service for $40 million

In November 2018, Ford announced the purchase of Spin for $40 million. With this deal, the American auto giant entered the electric scooter market. Read more here.

Ford starts using drones with GoPro cameras to check businesses from a height

In late August 2018, Ford announced the start of using drones to control businesses. Through the new project, the company hopes to save 90% of the time and eliminate absolutely all the risks associated with working at height. Read more here.

Creation of a company for the development of unmanned vehicles

On July 24, 2018, Ford announced a separate company that would focus on developing self-driving cars. The new subsidiary of the American auto giant was called Ford Autonomous Vehicles. Read more here.

Development of UAV identification solution

Ford in March 2018 introduced a solution to identify drones using a light code - an analogue of a car number - that will allow you to identify the drone from afar and quickly find its owner.

The number of drones in the air is growing every day. Despite the rapid rise in popularity of the technology, many related issues remain in their infancy. In particular, an important obstacle to the widespread use of drones is the lack of a set of rules that determine their behavior and interaction in the air, the company said.

Proposing a way to identify and track drones in flight was one of Ford's first moves as a member of the Federal Aviation Agency's USA (FAA) Aviation Rulemaking Committee. The solution of Ford specialists will make it easy to identify drones at a short distance with minimal or zero interference with their design. According to the company, the ability to quickly identify UAVs will ensure their safe and responsible use in airspace.

In particular, Ford's decision involves the use of a 10-digit code that the FAA provides to drone owners when registering. The code must be applied to the UAV body. However, it is almost impossible to consider it during the flight of the device. Ford experts have proposed using flight lights to identify drones, which are already standard equipped with some drone models to make them noticeable at dusk or at night. Ford's patented technology involves using flight lights to transmit the drone's 10-digit code in binary. The frequency of flashing lights can be unified, which will ensure the versatility of this identification method.

Light signals can be decrypted using a camera and special software. To do this, the capabilities of a standard smartphone are enough, which will allow any observer to identify the drone and, if necessary, transfer its number to the police. Thus, the 10-digit code becomes an analogue of the car registration plate, with which it is always possible to accurately determine the model of the drone and identify its owner.

According to Ford, the technology identifications has already been successfully tested by the light signal: the application for smartphone accurately recognized the registration number of the drone, located at a distance of 25 meters from the observer.

Ford specialists have also created a modular platform for drone development. The platform, which is a set of basic drone components with customizable parameters, will allow various teams inside Ford to quickly test scenarios for car and drone sharing. Engineers will not have to create every new drone from scratch - it will be enough to endow the base platform with the necessary functionality. In the future, Ford plans to make the platform publicly available so that third-party developers of specialized drones can use it.

Issues related to UAVs, including the ability to share cars and drones for the benefit of customers, are dealt with by a specially created research team at Ford.

2017

Ford forecast: Software revenues could outperform auto sales by 2020

In the coming years, software and service profits could account for a significant portion of Ford's revenue, and possibly surpass those from car manufacturing and sales, Ford Motor Company forecasts. At the same time, the company believes that a personal car will continue to play an important role in the transport system of the future.

According to Ford data as of November 21, 2017, the staff of the smart mobility division at Ford is 14-15 thousand people, or about 7% of the total number of company employees (about 200,000 people worldwide). This structure includes, among other things, the IT departments of the automaker. He heads the division Marcy Clevorn (Marcy Klevorn). In addition to USA and, Europe large teams of the unit are located China in and in. India

Work in Ford "laboratories" is established according to the principles that are adhered to in software companies. For each project, a product development group is created, consisting of 8-12 people engaged in one product or service and focused on a specific consumer. As an example, Clevorn cited a service for selling telemetry data to commercial customers, which Ford intends to develop from next year.

The development team has a "product owner" responsible for calculating profits and losses, a product manager managing the development team. Data and analytics experts decide how we will collect data and evaluate it, what conclusions we will draw based on the data obtained. Finally, software developers create the product itself and support it after launch, "Clevorn explained.

Similar to the car life cycle plan, Ford developed a digital service life cycle plan. One of the tasks of the mobility division is to synchronize these plans: certain functions of the car and certain services will work in a coordinated manner, which will provide convenience for users.

The profit from digital services, led by the forecasts of the company Clevorn, will account for a significant part of Ford's income as early as 2020-2025. According to her, the margin of services and digital products is much higher than material products. "Smart mobility" at Ford will develop in two directions: improving personal experience of using a car and solving the transport problems of cities as a whole, including thanks to multimodality - the use of several modes of transport as part of a single trip.

At the same time, according to the top manager, modern trends will not lead to the disappearance of personal vehicles.

There are cities that can ban cars altogether, or only allow rideshare vehicles or make personal cars too expensive. Therefore, it is important for us to engage in all types of transport, and ridesharing is important for us. But I don't think it will lead to the disappearance of personal car ownership. Part of our global vision is freedom to move a person, and that can mean different things for people depending on what environment they live in. In remote corners of the Earth, freedom of movement can mean owning your own car, "said Marcy Clevorn.

James Hackett succeeds Fields as CEO

On May 22, 2017, the CEO of Ford Motor Co. Mark Fields has left his post. His place was taken by James Hackett, who had previously headed Ford's subsidiary, Ford Smart Mobility.

Fields' resignation is associated with the loss of confidence in him by Ford board chairman Bill Ford and other board members, Forbes sources said. Despite significant profits, the state of the business has raised more and more concerns among the board of directors.

Ford's vice president of public affairs, Ray Day, also left his post. He was replaced by Mark Truby, who held a similar position in the company's Asia-Pacific division.

Meanwhile, a number of managers have been promoted, including Ford's head of division at, To Europe the Middle East and Africa, James Farley, and Ford's unit chief at Joseph Hinricks North America , the sources said.

Ford, which expects to make about $9 billion in pre-tax profits in 2017, has cut its market share. The company failed to persuade investors to buy its shares. Ford's share price fell 40% during Fields' tenure. The market value of the company during this time fell below the market value of Tesla and General Motors.

Ford plans to cut about 10% of workers worldwide. The company intends to cut costs by $3 billion in 2017. These measures are expected to help increase Ford's profitability in 2018^[9].

2014: Mark Fields is the new head of Ford, replacing Alan Mulally

Since July 1, 2014, the head of the American company Ford Motor Co. became the chief operating officer Mark Fields, who replaces Alan Mulally, who held this post for eight previous years.

53-year-old Fields has been working at Ford since 1989 - with a two-year break in 2000-2002, when he served as president and CEO of the partner company. Since Mazda 2002, Fields has been Executive Vice President of the European division of Ford^[10].

They did not expect a radical change of course from this castling, the company will follow the already planned strategy, which has long justified itself. For the eight years that Mulally was the head of the brand, he managed to pull the company out of the financial crisis - in 2006, the losses of the concern amounted to $12.6 billion, and 2013 was already marked by a profit of $7.16 billion. Mulally's decision sold the company's unprofitable luxury brands Jaguar, Land Rover, Volvo and Aston Martin, as well as Mercury and most of Mazda's shares, and only Ford and Lincoln remained in the portfolio.

The new president has been the right hand of the previous leader in recent years, and Mulally himself noted that he has "nothing to teach or discuss with Mark." Colleagues note only Fields' great emotional interest in cars.

The company will continue to focus on developing a model range common to all markets, the so-called One Ford strategy in action. Ford will continue to focus on the European market, as well as the revival of Lincoln.

- Our trump card in Europe is crossovers, we are focused on this growing segment. Our three new products are the compact EcoSport, the larger Kuga and the new Edge. The cars have a common design, but we adapt the suspensions, brakes and tires to the features of each market, - said the new Ford executive.

Lincoln is going through hard times, but a luxury brand is necessary for the success of the concern. Here Fields has a different opinion than Mulally - he regrets the sale of premium Jaguars and Land Rovers, although he admits that there was no other choice.

• I

  bet Lincoln will be a world-class luxury brand. In 2014, we will launch the brand in China, and then in other markets. And for Europe, a premium line of Ford cars called Vignale will be available, "Fields said about the company's plans.

2010: $1.8 billion sale of Chinese Geely passenger car business Volvo Cars

On March 29, 2010, the Chinese company Geely Automobile announced that it had reached an agreement to acquire Volvo Cars from Ford Motor Company for $1.8 billion. The deal was closed in early August 2010.

1958

1938: Henry Ford receives one of Germany's top Nazi awards

1923

1922

1921

1920

1913: 1st conveyor assembly line installed

1910

1900

1896: Henry Ford's first auto

Notes