Ford
The future of pickup trucks is here. Ford reveals the Ford Atlas Concept to showcase the design, capability, fuel efficiency and smart technologies that will define future pickup trucks. Ford Atlas Concept is inspired by decades of listening to customers at the places they work and play. The result is a purpose-driven design with prominent wheel arches, a wide stance and bold grille -- all to reinforce its functional Built Ford Tough image.
Recent History.
Ford, company founded by the famous Henry Ford, is a company full of rich history. This company has done more innovation throughout the years than most companies have done. Ford is known the the friendly family car feel with good quality and great prices. In recent history, Ford has gone through many different changes, downfalls, and celebrations. According the the official website for Ford, in 2001, Ford announced Bill Ford as the new CEO of Ford replacing Jacques Nasser. Though this great celebration within the Ford family was short lived when Bill Ford was replaced as CEO by Alan Mullaly, who then was also replaced in 2014 by Mark Fields.
Under Bill Ford's leadership, Ford decided that the company should focus more on its core operations of building cars and improving quality instead of looking into innovative ideas to keep themselves current in the industry. Ford also did celebrate their 100th anniversary in 2003, but the celebration didn't last too long being that 2003 was the beginning of the declining fuel economy. In 2006, Alan Mullaly was announced CEO right before the auto industry crashed. Mullaly decided that the company should focus on product development. That was the key aspect that kept Ford more afloat in the auto industry than the rest of its competitors. Although Ford did weather the financial crisis, they released new technology in 2009 by releasing a turbocharged EcoBoost line of engines. Shortly after, Mark Fields replaced Mullaly in 2014 where he plans to keep the momentum going in the same direction that Alan Mullaly had already established.
Under Bill Ford's leadership, Ford decided that the company should focus more on its core operations of building cars and improving quality instead of looking into innovative ideas to keep themselves current in the industry. Ford also did celebrate their 100th anniversary in 2003, but the celebration didn't last too long being that 2003 was the beginning of the declining fuel economy. In 2006, Alan Mullaly was announced CEO right before the auto industry crashed. Mullaly decided that the company should focus on product development. That was the key aspect that kept Ford more afloat in the auto industry than the rest of its competitors. Although Ford did weather the financial crisis, they released new technology in 2009 by releasing a turbocharged EcoBoost line of engines. Shortly after, Mark Fields replaced Mullaly in 2014 where he plans to keep the momentum going in the same direction that Alan Mullaly had already established.
Auto Industry Crash.
Unlike Ford's competitors, Ford went about the construction of their business differently. The CEO at the time, Alan Mallaly, decided that instead of trying to focus on the production of vehicles, he would look more into the market and what is selling/trending. Mallaly noticed that the fuel economy was plummeting and that there was a need for a vehicle that was fuel efficient. The problem though, was that other competitors like General Motors and Chrysler, were going to be funded through the government to help bail them out, and that eventually those companies may surpass Ford due to their extra financial help.
Because of this, Ford reached out to the Treasury of the United States government and asked for a loan since they did not need to file for bankruptcy. According to The Balance's online article, Auto Industry Bailout (GM, Chrysler, Ford), after explaining their case, the government decided to grant Ford a line-of-credit of $9 billion, but in return that money, plus an additional $5 billion, was to be used towards new technologies. On June 23rd, 2009, Ford received a loan from the Energy Department's Advanced Technology Vehicles Manufacturing program of $5.9 billion. This money was stipulated to be used towards advancing the development of both hybrid and battery-powered vehicles, close underperforming dealerships, and sell Volvo.
For did very well financially with the money they were lent. Roughly 81% of the money was used towards designing new efficient technology for gas-powered vehicles, as well as saving 33,000 jobs. Ford is currently on the right track and has a plan set out to completely pay of their debts as early as 2022.
After the auto industry crash, and even before the crash, many jobs had been lost due to lay-offs within the company from shutting down dealerships and factories to out-source jobs in countries with cheaper labor. This has been an ongoing problem, and a problem that still remains to this day. During the 2016 presidential election, one of the major topics that was discussed was unemployment, and how each of the candidates planned to deter this high percentage, and bring back jobs to the United States. In November 2016, Donald Trump was elected as the President of the United States, where he had been specifically working closely with the CEOs from each of the Big Three. Specifically when he worked with Ford CEO, Mark Fields, Fields had stated that they were looking to out-source jobs to Mexico where there was cheaper labor. It's understandable that these companies want the cheapest labor they can possibly get in order to beat the next competitor, but as an economy this hurts us significantly, and especially in the city of Detroit.
According to The Detroit News, President Trump has come up with a plan for tax break incentives to maintain auto production within the Unites States. "The United States has lost more than 5 million factory jobs since 2000; Michigan has shed more than one-third of its manufacturing jobs since then." - The Detroit News. With that as well, President Trump plans to tax each vehicle brought into the United States that was built from any foreign country. Jobs are few are far to come by in Detroit right now, and many of the unemployed population have had some sort of manufacturing experience in the auto field. Bringing the jobs potentially back could mean so much more than just unemployment rates decreasing, this could potentially stimulate an economy, a working economy, for the city of Detroit.
Because of this, Ford reached out to the Treasury of the United States government and asked for a loan since they did not need to file for bankruptcy. According to The Balance's online article, Auto Industry Bailout (GM, Chrysler, Ford), after explaining their case, the government decided to grant Ford a line-of-credit of $9 billion, but in return that money, plus an additional $5 billion, was to be used towards new technologies. On June 23rd, 2009, Ford received a loan from the Energy Department's Advanced Technology Vehicles Manufacturing program of $5.9 billion. This money was stipulated to be used towards advancing the development of both hybrid and battery-powered vehicles, close underperforming dealerships, and sell Volvo.
For did very well financially with the money they were lent. Roughly 81% of the money was used towards designing new efficient technology for gas-powered vehicles, as well as saving 33,000 jobs. Ford is currently on the right track and has a plan set out to completely pay of their debts as early as 2022.
After the auto industry crash, and even before the crash, many jobs had been lost due to lay-offs within the company from shutting down dealerships and factories to out-source jobs in countries with cheaper labor. This has been an ongoing problem, and a problem that still remains to this day. During the 2016 presidential election, one of the major topics that was discussed was unemployment, and how each of the candidates planned to deter this high percentage, and bring back jobs to the United States. In November 2016, Donald Trump was elected as the President of the United States, where he had been specifically working closely with the CEOs from each of the Big Three. Specifically when he worked with Ford CEO, Mark Fields, Fields had stated that they were looking to out-source jobs to Mexico where there was cheaper labor. It's understandable that these companies want the cheapest labor they can possibly get in order to beat the next competitor, but as an economy this hurts us significantly, and especially in the city of Detroit.
According to The Detroit News, President Trump has come up with a plan for tax break incentives to maintain auto production within the Unites States. "The United States has lost more than 5 million factory jobs since 2000; Michigan has shed more than one-third of its manufacturing jobs since then." - The Detroit News. With that as well, President Trump plans to tax each vehicle brought into the United States that was built from any foreign country. Jobs are few are far to come by in Detroit right now, and many of the unemployed population have had some sort of manufacturing experience in the auto field. Bringing the jobs potentially back could mean so much more than just unemployment rates decreasing, this could potentially stimulate an economy, a working economy, for the city of Detroit.
The Future of Ford.
The future for Ford is most certainly a bright one. With their continuation of technology through hybrid and battery-powered cars, Ford is looking even further into the future in the aspect of analyzing how people get around. According to Fortune's online article, Bill Ford: Here's Where Ford Motor Co. Will Be in 5 Years, Ford has recently teamed up with a small company called ZipCar where in basic terms is an easily accessible car that you rent hourly. This works well for those living in large cities and don't per say own their own car and don't like the idea of taking taxis or an Uber wherever they go.
Ford also in continuing their innovative ideas through potentially having and hybrid car able to plug in. This would simply be for someone who commutes to school or work every day on the same simple route that would run on electricity. But when that person needs to take their vehicle on a road trip or a further drive, they can also use fuel for the longer distances.