Ford at the 2007 Los Angeles Auto Show
Posted on 12. Dec, 2008 by admin in General Automotive
In the 2007 Los Angeles Auto Show, Ford’s Chief Executive Officer Allan Mullaly might as well be a model for a toothpaste ad with his biggest smile caught by press cameras. The CEO left Boeing for Ford more than a year ago, and being a newcomer in the industry, the CEO have made quality changes in his company that the struggling Ford needed for many years. Mullaly keyed in the newly reached tentative contract with the United Auto Workers union that will help Ford generate and save cash for their restructuring program.
Last Thursday, Ford reported a loss of $380 million which is smaller than what the company had expected for the third quarter, worse than their $750 million profit but means a huge improvement with their $5.2 billion loss in 2006.
As the Los Angeles Auto Show opened, scrutinizing eyes are focused on Ford and what would 2008 be like for the automaker. Financially speaking, Ford is the weakest among the three American Detroit based automakers with its $12 billion loss in 2006. To generate is fund, the company mortgaged all its assets which includes its iconic oval Ford Logo worth $23 billion.
In an interview with Automotive News last week, Mullaly admitted that the money Ford generated may not be enough and Ford is in a “race against the clock”. Even the CEO is uncertain to whether his company will win in this race they are into. For the CEO, the track they are following for their restructuring program is the right path and that “worry about worrying as opposed to worrying about doing” will jeopardize their road to profitability.
An insight of Ford’s 2008 year might be provided by the Los Angeles Auto Show which like other auto shows highlights the usual concepts. The latest green technologies which include Honda’s FCX Concept (with built in Honda oxygen sensor), the first hydrogen fueled car for consumers and the 2008 Green Car of the Year Award are the most awaited for this year. The LA auto show ranked second only to the Detroit Auto Show will also remove the curtains for new high-performance, exotic, futuristic and daring concept cars.
For Ford, the Mustang Bullitt comes back coinciding with the 40th celebration of the Steve Mcqueen movie “Bullitt” featuring several San Francisco car chase. Similarly, the Dodge Challenger inspired movie “Duke of the Hazzards” will also be launched in spring making a fierce contender for Ford’s pony. The Transformer’s Chevrolet Camaro will also be redesigned and will be offered in showrooms in 2009.
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