News: Ford don't want Government money

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Jailbait Ford is Dead! Adjusting to pedestrianism.
Ford, unlike the others in the "Big Three" say they'll be breaking even in two years and don't want bailing out.

If you'd like to read the article, click here.
If you don't want to read the article, don't click here.
 
Listen, these threads are supposed to look like this:

Ford claims it will break even in two years

Ford declared again today that it would not need government aid and forecast that it would break even in two years.

The carmaker is the only one of the big three American automotive manufacturers not to need government support.

Its rivals, Chrysler and General Motors (GM), are surviving on emergency state money and are both under tight deadlines to restructure or be pushed into bankruptcy by the US Government.

Ford repeated its aim to survive independently as it reported a smaller than expected loss for the first quarter.

The carmaker made a net loss of $1.43 billion in the first three months of the year compared with a profit of $70 million in the same period last year. Sales fell to $24.8 billion from $39.2 billion as Ford slashed US production by half. The better than expected results help lift the Dow Jones industrial average by 52.33 point to 8,009.39 within minutes of trading opening.

Excluding one-off items, its loss was $1.8 billion or 75 cents a share. On average, analysts had been expecting a loss of $1.23 a share.

Ford has been ahead of GM, its main rival, in paring down its business.

Over the past two years it has sold Aston Martin, Land Rover and Jaguar and has put Volvo on the market.

GM, meanwhile, is racing against a deadline of June 1 to jettison most of its European operations, which include Opel and Vauxhall.

Ford burnt through $3.7 billion in cash in the first quarter, a sharp drop from the last quarter of last year, when it got through $7.2 billion in cash.

At the end of March the company had $21.3 billion left in gross cash.
 
If ever need a sports car I probably won't buy ford, but if I ever need a truck they're first on my list.
 
I own a ford fiesta diesel in India and its by far one of the best cars I've ever had.
I do hope Ford can survive.
They started the whole Car business I'd hate it if they hot bought buy a company like Honda or Toyota, either as a whole or in tiny bits.
 
This will be hilarious in a year when they spend all of their money from selling off all of their side-brands, and need money because they still are run horribly. *laughs*
 
This will be hilarious in a year when they spend all of their money from selling off all of their side-brands, and need money because they still are run horribly. *laughs*

Actually, Ford's projections may be right on the money. They're not horribly run any more; Alan Mullaly has gone through Ford management with a virtual flamethrower.
 
If ever need a sports car I probably won't buy ford, but if I ever need a truck they're first on my list.

The new Focus RS disagrees.

Oh, you are Canadian and can't buy it. Pity you. :mrgreen:
 
And you're in norway, which means that Focus RS will cost as much to you as Audi RS6 costs to rest of us. :p
 
Not for you over in Finland, but yeah... :lol: An RS is about 70k GBP here.

Thats cheap compared to the cost of it in India (don't ask)
 
With GM & Chrysler becoming state/union-run frankenstiens, I have to applaud Ford. They were my least favorite American company, but they may be the lone survivor.
 
I stopped into a local dealer recently, and there was a photocopy of a hand-written note attached to a Mustang in the showroom. It was (supposedly) from a man in the USAF who wrote them a thank-you letter for not taking government money to keep their own jobs and company afloat.
 
I think its interesting how extremely different the cases of the automakers are. Here we have the case of Ford, doin it extremely rite, and then the cases of GM and Chrysler, who r doin it extremely rong...
 
I think its interesting how extremely different the cases of the automakers are. Here we have the case of Ford, doin it extremely rite, and then the cases of GM and Chrysler, who r doin it extremely rong...

Ford is just lucky that they got their loans when they could, and got cash through their sale of Aston, Jaguar, Land Rover, etc. Also,the success of the Mustang paid for a lot.

GM, I think, was really in the lead as far as compelling products coming online, but they have tooooo many brands. Ford has many seemingly worth-while products in the pipeline, but many are not here yet. The new refreshed Mustang is much better even though they hardly touched most of it, the F-150 is...slightly better than the last, although it's not a huge leap. The Fusion (especially the hybrid) is loved by journalists (even beating the Camry Hybrid in side-by-sides) The Edge and Flex are...dull, but not awful. The big news is the Fiesta, the Taurus, Explorer and Focus...and the nearest of them is a year off.

And Chrysler...if I were to list what I think are the 3 worst vehicles in America right now, they are all Chryslers.
1) Jeep Compass
2) Sebring/Avenger
3) Dodge Caliber
 
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I think its interesting how extremely different the cases of the automakers are. Here we have the case of Ford, doin it extremely rite, and then the cases of GM and Chrysler, who r doin it extremely rong...

Ford is far from being safe right now, they just aren't as bad off as GM/Chrysler. IF the US spec. Fiesta and Focus are comparable to the Euro versions then they'll have legitimately good, cheap cars for the masses.

Anyone know what the hell is going to happen to Mercury and Lincoln?
 
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The MONEY THE MONEY Ford dont want government money -- let the mother f******s burn!
 
Ford is far from being safe right now, they just aren't as bad off as GM/Chrysler. IF the US spec. Fiesta and Focus are comparable to the Euro versions then they'll have legitimately good, cheap cars for the masses.

No, they're not safe, but considering the turndown I think they're doing very well...
 
No, they're not safe, but considering the turndown I think they're doing very well...

Yup. They have the products in the pipeline, they have a bit of a cash reserve and untapped credit lines. From others' reports here, they seem to be taking the time to do those products right; on top of that, they have an actual coherent plan and non-Detroit-mafia/non-idiot leadership in Mullaly.

Bill Ford's greatest moment was realizing that he was in way over his head, had too many friendships and family loyalties to maintain effective discipline and that he was in way over his head - then hiring someone who *could* do the job. I don't know that he could get enough credit for that, because it's not an easy decision to make - especially since it's the exact opposite of what business schools teach these days. It takes guts to admit that you can't run your own company - and that there is nothing wrong with hiring someone who can.
 
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