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New Ford COO Jim Farley Says There Is A Sense of Urgency At Ford

Ford COO Jim Farley
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Ford Motor Company surprised many people when it announced earlier this month that Jim Farley would be promoted to chief operating officer, and Joe Hinrichs would be retiring. The automaker is seeing sales plummet and profits fall as its stock price is at its lowest level in many years. Despite the difficulty the company is having, some are upset that along with his new position as COO, Farley is also getting a massive raise worth millions of dollars. Jim Farley is now saying that there is a “sense of urgency” at Ford.

Farley is attempting to calm investors while emphasizing that his top priority is to ensure the major vehicle introductions this year go as planned. Rumors have suggested that the reason Hinrichs retired was due to the botched launch of the 2020 Ford Explorer. Farley said that everyone at Ford knows the situation the company is in.

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While the automaker is struggling and focusing on pulling off its new product launches this year, it’s also facing a continued downturn in sales, particularly in overseas markets. The Chinese auto market has been hit particularly hard hit due to the coronavirus. Farley says that the coronavirus crisis will “handicap” the automaker and impact its financial guidance for the year. He did note that it’s too early to tell how much earnings will be impacted.

Also hurting Ford’s financial performance are quality issues on older vehicles that have led to increasing warranty costs to the tune of an extra $1.5 billion in 2019. Overall warranty costs rose last year to $5 billion for the automaker. Farley says one key to solving that problem is vehicle connectivity and analytics that will help to ensure the vehicle is operating correctly. He also noted that there is an opportunity to use the software to identify quality issues by adding date and time stamps when problems do occur.

Farley also admitted that there is a “monetized data business” that is emerging at Ford. Ford recently announced that owners of its connected vehicles could opt to send data to Nationwide insurance for potential discounts. Farley went on to say that Ford was fixing issues with a “sense of urgency.” Many wonder how much time CEO Jim Hackett has before the board has him retire.

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Source: Detroit News

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Written by Shane McGlaun

Shane is a car guy with a fondness for Mustangs and off-roading.

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5 Comments

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  1. The techno-babble sure rolls out of Farley’s mouth the same as Hackett’s. Nothing will be fixed by these two. I sure hope the Ford family and Board if Directors soon realize what a mistake it was leaving these two guys at the helm. A big change needs to be made before it’s to late to turn things around. I never thought I’d see the day when Ford Motor Company won’t even compete in building automobiles. Except for a few Mustangs, It’s turned into a big GMC; nothing but trucks.

  2. Ford still doesn’t get it. Stop killing off your good cars and leaving the world with boring broke cars! You know which engines don’t have issues? The 5.0L Coyote, the 5.2L Voodoo, the 3.5L High Output ecoboost, You know which engines have issues? The stupid little teeny tiny turbo engines that have recall after recall. How about not making those engines/vehicles that have all of the recalls? Vehicles like the Ecosport, Edge, Escape, Fiesta and Focus are all problematic vehicles. Lincoln, All of them (except the Aviator and Navigator) are absolute junk! Especially the continental. One of the best things Ford could do right now would be to get rid of Lincoln completely.
    Ford only needs five basic platforms, the CD6 modular platform, the T6 platform, the F150 platform, the super duty platform and a new modular electric platform. Cut out all of these Front wheel drive vehicles altogether and get rid of these super tiny, sub 2-liter engines and these problematic FWD transaxles that go bad left and right. Ford will be in a much better position when it does that as well because now they would have gotten rid of Lincoln, saving them a ton of money from not having the extra brand around along with not having to make separate parts for cars that are just rebadged Fords anyway. And now you’ve gotten rid of the Ford vehicles that have the most issues which would be any Ford that is front wheel drive, which also means all of those little engines can go along with the bad cars. Now that we’ve gotten those out of the way, we can start semi-fresh.
    Ford has already said the Mustang will be reborn on the new CD6 platform that the explorer rides on which gives me the impression the car will now be about the size of the BMW M8, which is absolutely fine by me, especially if the car gets an AWD option. To be honest, Seeing that they’re using the Mustang name on the Mach E, Ford could honestly bring out a Falcon family of vehicles here in America. Seeing that the Falcon was the car that original gave birth to the Mustang anyway and also it’s the name of Australia’s most badass vehicle ever. Unlike the one trick pony we know as the Mustang, the Falcon (even in America) came in different body styles such as coupe, sedan, wagon and even a Falcon Ranchero pickup. Which means, Ford could have a BMW 8-series sized Falcon coupe, a Falcon sedan & a 5-seater Falcon wagon (Crossover) all on the CD6 platform and have the Explorer as the “up to 7 passenger” SUV all on the same chassis. This also brings up another money saving point, powertrains. To be perfectly honest, Ford only really needs three engines to be competitive in the performance market, or truthfully any market. Those three engines are the 2.7L Ecoboost, the 3.0L Ecoboost and the 3.5L Ecoboost. Even as a base engine, the 325hp/400tq 2.7L is no slouch and would make a much better base engine in a performance car than the 2.3L ecoboost. The 3.0L Ecoboost comes in at a standard 400hp/415tq with just a regular powertrain and 494hp/630tq when connected to a 10-speed hybrid powertrain. Lastly the 3.5L Ecoboost can be tuned all the way down to 375hp/470tq, to a mid range of 450hp/510tq to a blistering 660hp/550tq and since the new platform can already handle the 3.0L, the 2.7L and the 3.5L should be able to fit with no problem and also the 10-speed auto and 10-speed hybrid are already used on this platform so the 7-speed DCT should fit under this with no issues. All of this eliminates the needs for the 2.3L Ecoboost and the entire V8 lineup.
    Moving up to the T6 platform, Ford was half smart when it brought the Ranger from Aussie up to the states, however it didn’t bring any of the fun versions with it. It’s been rumored the Ranger will be redone soon and hopefully trim levels like the Wildtrak and Raptor will join it along with a better interior and a nice exterior upgrade. Seeing that this truck can take a V6 under it’s hood, again, the 2.7L Ecoboost and 3.0L ecoboost should be the engines that power this truck along with a 3.0L Powerstroke Diesel. The Bronco should have all three of these engines as well, but Ford should also bring up the Everest to slot under the Bronco as a more stylish street vehicle that can do off road stuff with more of a focus on every day comfort and style as opposed to the Bronco’s more rugged style. Not saying that the Everest should loose any off its capabilities, it’s just that its a softer looking less squared off vehicle than the Bronco. Make the 2.7L Ecoboost the only engine option with a 10-speed behind it and call it a day.
    Moving up to the F150 platform/Expedition. The same three engines apply here. The only thing that needs to change is that there needs to be an F150HD with a dual rear wheel option. 99.9% of people with Super Duty pickup trucks have no need for a truck of that magnitude. Most people won’t ever exceed what a properly equipped F150 can do and if they do, it’s only by a marginal amount A heavy duty F150 that bridges the gap between it and the F250 would actually accommodate most truck customers. with a Standard 450hp/510tq 3.5L V6 and a 10-speed automatic transmission and a beefed up frame and rear suspension, the truck should be more than enough for anyone who doesn’t have fleet or construction business and honestly it should be plenty truck for alot of those guys too. Ford does need to bring back the lightning with the 660hp 3.5L Ecoboost V6 to go along with the raptor. As far as the Expedition is concerned. Give it a top of the line luxury Vignale package and you’ll never miss the Navigator. Give the Explorer, the Falcon Crossover and the Everest Vignale packages and Lincoln will never be missed. Period.
    Lastly, electric vehicles. Like I said, Ford can swap the Mustang over to the Mach-E crossover, give it some performance packages and have fun. What I would say is at this point, it’s time to let the Shelby name rest. Give it names like the King Cobra, Cobra II, Ghia, GT and Vignale since this thing is just the Mustang II reincarnate. Honestly, it is time for Ford to do some things in the electric market, but do it smart. Bring out the EVOS just like it looked as a concept. Convert the Ford Transit and transit connect to electric vehicles with autonomous features, bring back the C Max so this way Ford can have a small commuter type vehicle without all the headaches of small turbo gasoline engines and FWD drivetrains. Bring out the Ford Atlas as an all electric F150 based pickup truck. Those could be your volume sellers right there for both regular customers and fleet companies. Once you do that, then you can bring out electric performance vehicles. Remember the Ford Mach 3 and the Ford GT90? Now would be the perfect time for some affordable supercars seeing that the MAch 3 could challenge the Tesla Roadster and the GT90 would be an Affordable electric challenger to vehicles like the Huracan EVO Coupe. Ford has been talking about electrifying the Ford GT, how about doing that and making it more competitive to cars like the Corvette with different levels of performance, seeing that 95% of people will never track their car to begin with but still like cars like the Corvette. Although those cars would be low volume cars obviously, it allows ford to have a performance presence in the electric market and allows them to be first to market that many electric performance vehicles along with having regular vehicles as well.

    • You should work in product planning. So many suggestions without any market research data to back them up. Ditching all 4 cylinders is definitely a good idea; why should 80% of the international markets need them anyway?

  3. We northerners need fwd. Also, an engine that runs on regular gas which is $.90 cheaper up here. And, we are car people, not truck, not cuv, not van, not suv. Long live my 2017 regular gas, REAL Mustang V-6.

    • Joe.B so you’re saying that an AWD wouldn’t work? I’m from the north eastern part of the US myself and I’m definitely a car person myself. That CD6 platform that ford has is a modular system so it can utilize FWD, RWD and AWD powertrain layouts. I think a RWD based AWD system works very well for our Northeast winters. Think about cars like the GTR. RWD based AWD performance vehicle, just saying.

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