The automaker scrambled a team that was on the ground 12 hours after the tornado struck, helping BorgWarner fix the plant and reach the point where it expects to resume limited production next week.
https://www.autonews.com/manufacturing/ford-lauds-fantastic-effort-damaged-borgwarner-plant-expects-no-impact-f-150
The process of reopening plants and offices will take several months, culminating with salaried employees returning by late June or early July. When vehicle production will resume remains unclear, but plant workers won't have access to cafeterias or fitness centers during breaks.
https://www.autonews.com/manufacturing/ford-says-work-home-could-continue-july
Hear Mark Fields’ views on the industry’s return to normalcy. He also looks at the future of retailing, manufacturing, electrification and investments in autonomous driving.
https://www.autonews.com/congress-conversations/congress-conversations-former-ford-ceo-sees-gradual-ramp-pent-demand
Halderman was a fairly young designer whose sketch of the Mustang emerged the winner among a competition during a secret project to create what became the first so-called pony car. He was 87.
https://www.autonews.com/design/gale-halderman-designer-behind-first-ford-mustang-dies
Musk unloaded on California's current order for people to remain in homes to halt the spread of the coronavirus. "Frankly, I would call it forcibly imprisoning people in their homes against all their constitutional rights, in my opinion," he said.
https://www.autonews.com/executives/musk-calls-coronavirus-shelter-place-orders-fascist http://ifttt.com/images/no_image_card.png
Brazil is South America's largest auto producer and a major base of operations for General Motors, Fiat Chrysler Automobiles, Volkswagen Group and Ford Motor Co., which are requesting a bailout for their local units.
https://www.autonews.com/automakers-suppliers/automakers-negotiating-brazilian-bailouts-report-says
Marc Cannon adds technology oversight to his responsibilities at the largest U.S. dealership group. He will continue to lead brand, advertising, marketing, e-commerce, customer relations and communications.
https://www.autonews.com/executives/autonation-names-cannon-new-customer-experience-position http://ifttt.com/images/no_image_card.png
BorgWarner is telling employees that some workers will begin returning to work next week -- less than a month after a tornado ripped through the plant. The facility makes transfer cases, an important component of four-wheel-drive systems that Ford uses in its F-150 pickup.
https://www.autonews.com/suppliers/borgwarner-start-limited-production-damaged-sc-plant-early-may
The automaker said it will reassess consumer behavior after the coronavirus crisis passes.
https://www.autonews.com/mobility-report/ford-postpones-av-commercial-services-until-2022
The automaker made the forecast as it reported a $2 billion net loss for the first quarter, in line with an April 17 projection, as the financial toll of the coronavirus crisis continues to mount.
https://www.autonews.com/manufacturing/ford-expects-5-billion-operating-loss-q2
Musk increased the share of his Tesla holding that he’s pledged as collateral for personal loans to 54 percent at the end of 2019. That's compared with 40 percent at the end of 2018.
https://www.autonews.com/executives/musk-guards-tesla-board-legal-fees http://ifttt.com/images/no_image_card.png
Monday's stock rally put Tesla's market capitalization at $145 billion. Importantly for Elon Musk, its stock market value reached a six-month average of $96 billion.
https://www.autonews.com/executives/musk-nears-750-million-options-payday-ahead-tesla-results http://ifttt.com/images/no_image_card.png
Ford expects the outbreak will result in an estimated first-quarter loss of about $2 billion. The company's previous warning came the same day that it raised $8 billion from corporate debt investors.
https://www.autonews.com/manufacturing/ford-due-report-q1-results-amid-pandemic-crisis
The automaker plans a gradual production ramp-up over the next few months before a return to full production. The resumption timing for Ford's Dagenham and Bridgend engine plants in the U.K. will be confirmed at a later date.
https://www.autonews.com/manufacturing/ford-resume-european-output-starting-may-4
https://www.autonews.com/executives/gm-ceo-compensation-falls-slightly-216m-2019 http://ifttt.com/images/no_image_card.png
Reuben Sarkar, a former Department of Energy official, will lead the self-driving test facility in Michigan at a time when some widespread autonomous vehicle deployments have been delayed.
https://www.autonews.com/executives/american-center-mobility-names-new-ceo http://ifttt.com/images/no_image_card.png
Uncertainty stemming from the coronavirus pandemic and questions about complying with new rules of origin are creating challenges for auto industry stakeholders as they await final regulations on a new North American trade deal.
https://www.autonews.com/executives/trade-unknowns-continue-stir-uncertainty-during-pandemic http://ifttt.com/images/no_image_card.png
In the April 30 segment of our 8-part series, Fields will discuss the financial impact on automakers and the supply chain as the industry tries to emerge from a shutdown.
https://www.autonews.com/executives/next-congress-conversation-former-ford-ceo-mark-fields http://ifttt.com/images/no_image_card.png
The ex-Nissan boss who fled Japan to avoid a trial is working with former French journalist Philippe Ries on a book to be published by Grasset before the end of the year.
https://www.autonews.com/executives/ghosn-promises-new-revelations-upcoming-book http://ifttt.com/images/no_image_card.png
Hiromichi Mizuno, whose term as chief investment officer of Japan’s Government Pension Investment Fund ended last month, will serve on the board's audit committee.
https://www.autonews.com/executives/tesla-adds-former-cio-worlds-largest-pension-fund-board http://ifttt.com/images/no_image_card.png
Amy Marentic, product line director for the Bronco and Mustang, will join Google. Crystal Worthem, head of global brand experiences, is taking a position at Facebook.
https://www.autonews.com/automakers-suppliers/ford-loses-marketing-execs-google-facebook
The executive change comes nine days after CEO and President Cheryl Miller was granted medical leave. Executive Chairman Mike Jackson said he expects to serve as chief executive of the dealership group for several months while Miller is on leave.
https://www.autonews.com/executives/autonation-promotes-coo-jim-bender-president http://ifttt.com/images/no_image_card.png
Used-car prices are falling faster and steeper than JPMorgan was first expecting, lead analyst Ryan Brinkman wrote in a report Monday.
https://www.autonews.com/used-cars/gm-ford-captive-financiers-may-lose-billions-used-car-price-plunge
COO Jim Farley is one of the only top Ford executives remaining from the Great Recession, a period that taught its leadership many lessons that can be applied today.
https://www.autonews.com/executives/fords-farley-cash-communication-are-king http://ifttt.com/images/no_image_card.png
Lisa Drake, who has logged work on hybrids and big trucks, will be focused on improving launches, reducing warranty costs and hitting an elusive margin target.
https://www.autonews.com/executives/fords-new-north-america-chief-targets-10-margins http://ifttt.com/images/no_image_card.png
The prolonged economic pain felt in the last recession yielded lessons that are applicable to the quick, sharp cuts that the coronavirus pandemic has made, says Aaron Zeigler, president of Zeigler Auto Group.
https://www.autonews.com/executives/focus-scale-reduce-costs http://ifttt.com/images/no_image_card.png
Tammy Darvish, president of AutoCanada's U.S. operations, recalls the hostility toward franchised dealers in the Great Recession and says attitudes are different in this crisis.
https://www.autonews.com/executives/dealerships-see-greater-level-support http://ifttt.com/images/no_image_card.png
Nissan North America R&D executive Chris Reed learned in 2008 to tune out the worries and focus on the goal.
https://www.autonews.com/executives/focus-future http://ifttt.com/images/no_image_card.png
https://www.autonews.com/executives/obituary-william-walters http://ifttt.com/images/no_image_card.png
The Canadian parts giant responded to 2008 by ensuring liquidity, heightening financial discipline and keeping track of what programs might be delayed, CFO Vince Galifi says.
https://www.autonews.com/executives/magna-vigilant-about-contingencies http://ifttt.com/images/no_image_card.png
Lisa Drake, who has logged work on hybrids and big trucks, will be focused on improving launches, reducing warranty costs and hitting an elusive margin target.
https://www.autonews.com/executives/fords-new-north-america-chief-targets-10-margins
Their intercontinental efforts were almost thwarted after a flock of birds grounded a 747 jet loaded with materials, but a quick-thinking logistics whiz and sympathetic FEMA officials saved the day.
https://www.autonews.com/manufacturing/fords-logistics-team-scrambles-launch-protective-gear-output
The Seneca, S.C., factory -- struck by a tornado this week -- produces transfer cases, an important component in four-wheel-drive systems that Ford uses in the F-150 pickup, its biggest moneymaker, as well profitable SUVs such as the Explorer and Lincoln Navigator.
https://www.autonews.com/manufacturing/ford-damaged-borgwarner-plant-may-disrupt-f-150-suv-output
Holly Walters, who has been with Toyota since 2007, will oversee information systems, solutions and technology. Mike Owens will become group vice president and chief risk officer at Toyota Financial Services.
https://www.autonews.com/executives/toyota-savings-bank-chief-promoted-lead-na-info-systems http://ifttt.com/images/no_image_card.png
The forecast follows an estimate four days ago of a $600 million pretax loss for Q1. The automaker also filed for a debt offering to boost cash reserves amid a production halt.
https://www.autonews.com/automakers-suppliers/ford-warns-2b-quarterly-net-loss-it-seeks-more-cash
