Since Ford CEO Jim Farley took control of the iconic automotive manufacturer last year, the company has faced some challenges while undergoing a bit of a transition. The automaker has gotten off to a pretty good start, sales-wise, this year, but is undoubtedly facing major challenges as a result of the semiconductor chip shortage, supply chain restraints, and the world’s transition to electric power. Thus, Farley revealed a new 10-point plan at this year’s Ford shareholders meeting with some general points on how to get there, as Michael Martinez from Automotive News reports.
Ford CEO Jim Farley is discussing his 10-point plan for transforming the company, which is aptly called “The Plan” pic.twitter.com/t4CZCwaRAG
— Michael Martinez (@MikeMartinez_AN) May 13, 2021
“The Plan,” as Farley calls it, is a mixture of old-fashioned business acumen and a look toward the future. Things like treating customers like family and creating desirable products are just basic good business sense, but the desire to modernize its products while simplifying things and leading the electric revolution, well, those are not always the goals of a legacy company.
However, these points from the Ford shareholder meeting do go hand-in-hand with what Farley has done and said in recent months. In addition to stating his desire to move battery manufacturing in-house, investing in solid-state battery development, and creating a battery research and manufacturing facility, Ford will reveal its first-ever all-electric Ford F-150 – the Ford F-150 Lightning – next week.
Meanwhile, Ford recently doubled its investment into EVs through 2025, while Farley has expressed his desire to slash warranty costs by ensuring vehicle quality, particularly at launch, as well as building and selling more affordable vehicles in the future.
We’ll have more from the 2021 Ford shareholders meeting soon, so be sure and subscribe to Ford Authority for 24/7 Ford news coverage.
Comments
I really hope there is more detail. That is the most generic plan I’ve ever heard. I do however, think they could benefit from some of these things. They need to take a page from Tesla’s book and utilize vertical integration, they also need a more seamless integration between hardware and software. Not to mention, a boost in quality would be a big help.
Jim Farley knows nothing Lincoln is the Luxury Brand but Ford is getting all the attention. Where’s the Lincoln EV models Aviator? Blackwood Pickup? Continental suicide doors sedan? Mark Coupe with suicide doors? Navigator ? Lincoln could have been the American EV Company but No they want to sale regrilled SUV’s
His speech sounds much like the previous generic, motherhood/apple pie speeches by the furniture guy.
June 2021 p.60 Consumer Reports just gave poor review of new 2021 F150; I do not understand this. I don’t feel it is an honest review. Can Ford?, will Ford? address this, or is Consumer Reports biased in this case. If legit, I am sure Jim Farley, Ford CEO will address and fix; to me that seems to be who he is. He may be the greatest Ford CEO and his team since the founding CEO; I hope, I think.
All you have to do with CR is ignore it like the rest of the world. It died long ago as a source of trusted data on anything!
CR seems to have had an anti Ford bias for eons. Someone should look into their finances!
Amazingly generic. Disrupt ourselves? That goes back to Mark Fields. Who was a better CEO than Furniture man and Chris’s cousin combined.
As a Ford stockholder I offer. Mark Fields showed he was not fit to be Ford CEO;could not develop strategic vision, nor fix quality, could not express himself, seemed more interested in outside activities and credit then run Ford. Hackett surprisingly did perfect to fill in before Jim Farley, and for transition saved Ford.Jim Farley spent his whole life involved with Ford. Rebuilt 8 mustangs and raced, rebuilt cars as a child with grandfather who worked side by side with Henry Ford, was senior exec at Lexus and handpicked and hired by Alan Mullaley. Bill Ford JR and Ford Board have done fantastic job bringing an incredible management to Ford, maybe greatest in history of Ford since founding Henry Ford.Jim Farley maybe best auto exec in world. Lucky Ford, customers, and shareholders
Uh…..Fields was run off because of the stock price. Which was still higher on his last day than it is now. And it was half of what it is now under Hackett (I’ll refrain from my usual perjoratives for him).
I, too, am a Ford stockholder……for now.
I worked for Ford for 34 years and caring for each other and for our customers was one Ford’s major strengths… it takes much care and collective effort to make something as complex and wonderful as a modern automobile. When we failed to look after each other or our customers we failed to make great products. I am so encouraged that caring for each other and our customers is being recognized as one of the top ten things the company must do to succeed…it is
good news for Ford and good news for Ford customers.
Ford pays top dollar for everything labor, managers , etc. in return they should have top quality. And hold themselves accountable. It’s the one thing people will buy quality. I took my 2019 150 in for paint blister on front bumper. And was denied remedy . That’s not how you win friends and neighbors.
Ford pays top dollar for everything labor, managers , etc. in return they should have top quality. And hold themselves accountable. It’s the one thing people will buy quality. I took my 2019 150 in for paint blister on front bumper. And was denied remedy . That’s not how you win friends and neighbors.
Why is 2021 Nautilus with revised interior from my current 2016 MKX the only Lincoln SUV/CUV without available Head Up Display ? Will 2022 Nautilus have HUD or should I change to another manufacturer ?
Kind regards,
Hermann Andres
I am hopeful Farley will bring more Ford products I want to buy. The only thing in the line-up I like is the real Stang. I love my MKZ, but unless Ford offers some kind of interesting and sporty CAR, they will not have anything to draw me away from the Japanese offerings. Best of luck to FoMoCo, because I can guarantee the next two cars I buy will not be Fords, due to the line-up they will carry for the next 3-5 years.
The dealer’s must listen and adapt. They are the major weakness in the process. Farley can control corporate attitudes and actions but dealers are a whole different story. Today I talked to a Ford parts employee who knew absolutely nothing about the Mach E. This must change and it up to the dealer’s to get on board… now.
The dealer’s must listen and adapt. They are the major weakness in the process. Farley can control corporate attitudes and actions but dealers are a whole different story. Today I talked to a Ford parts employee who knew absolutely nothing about the Mach E. This must change and it up to the dealer’s to get on board… now.
Hey don’t blame the Dealers-blame Corporate Greed . The Dealer cannot make major repairs without Corporate approval. And Corporate doesn’t want to spend money for warranty repairs that will lower profits and chase investors away .My 2018 f150 with the BMW Frankenstein six-speed transmission started having delayed engagement at 3,000 miles.. TSB says solution is Replace Transmission Pump Assembly. Dealer cannot get Ford authorization to make the repair, because that is a” normal condition for the 6r80 transmission”. That = zero dollars in the dealer’s bottom line; and $ 6,000 profit in Ford’s bottom line. If Jim Farley wants to treat customers like Family- i’m glad i’m not related,