Time For Change? Detroit Three Are Failing To Prosper During Record Boom

Time For Change? Detroit Three Are Failing To Prosper During Record Boom
First, General Motors and Fiat Chrysler Automobiles reported weak earnings, with both reining in profit forecasts for the year. That sparked sharp sell-offs of their stocks.

Then it really got ugly. Ford Motor Co. took the stage and projected $11 billion in charges linked to a restructuring plan that will take as long as five years to play out. The already-struggling company that had touted plans to cut $25.5 billion in costs in the coming years left analysts wanting more detail and subjecting CEO Jim Hackett to harsh questioning.

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MDarringerMDarringer - 7/26/2018 10:07:09 AM
-3 Boost
Ford is being run by an idiot at the moment. It's time to fire him and beg Mullaly or Iacocca to come back.


DeutschlandDeutschland - 7/26/2018 10:17:58 AM
+12 Boost
Iacocca is 93...I think he rather play golf or take a nap


MDarringerMDarringer - 7/26/2018 10:23:46 AM
-7 Boost
Once again, you miss the point entirely.


DeutschlandDeutschland - 7/26/2018 10:32:03 AM
+6 Boost
Then clarify your point


MDarringerMDarringer - 7/26/2018 11:07:56 AM
-8 Boost
The point--in the case of Iacocca--being that even someone who has retired long ago could return to Ford and do for it what he did for Chrysler. If you know the history of Ford, the comment about Iacocca makes an instant connection. If you know nothing about the history of the industry you act flummoxed.


PUGPROUDPUGPROUD - 7/26/2018 11:06:07 AM
+7 Boost
Settle down guys...its the lack of new product that consumers really want.


MDarringerMDarringer - 7/26/2018 11:12:40 AM
-3 Boost
Indeed and FCA is in deep caca on that account.


DeutschlandDeutschland - 7/26/2018 11:21:31 AM
+6 Boost
@ Darringer

I'm familiar with his career at Ford. The guy is 93 years old and has been basically out of the C-suite since 1992. What evidence is there to suggest that he knows how to steer a large car company into the future? It seems you are being maudlin


MDarringerMDarringer - 7/26/2018 11:41:16 AM
-5 Boost
Look up the word "maudlin" because you obviously do not know what it means.


TruthyTruthy - 7/26/2018 12:40:46 PM
-5 Boost
MAGA. I thought Draft-Dodger-Donnie was going to make 'merica great again and open up new markets. Unfortunately, the poster child for AADD has caused raw material costs to skyrocket. He has also caused foreign markets to start closing to US products in response to his poorly though out (giving him the benefit of the doubt here - I don't he thought it out at all) tariffs against everybody, all at once.
Brazil soybean exports to Europe and China are booming AND they are signing long term contracts to lock in these gains. Even if DDD lifts the tariffs the market will have shifted causing lasting damage. This is just one example.


MDarringerMDarringer - 7/26/2018 12:59:07 PM
-4 Boost
You really should have come for martinis #TrueFriendship


TruthyTruthy - 7/26/2018 1:31:48 PM
-1 Boost
After this week I need a martini. At least football starts soon.


TomMTomM - 7/26/2018 2:50:08 PM
0 Boost
Anyone here who knows anything about the Vehicle Manufacturers - HAD TO KNOW that FORD - when stopping Car production- and moving to SUV and Crossover production would end up with a HUGE charge to refit the Assembly plants. THe fact is - THe F150 is selling like air conditioners on a 101 degree day - setting records - and that is where FORD makes its profit. Eventually this will settle out for Ford - unless there is a created oil shortage.

FCA - which is not an American Company - is also setting record product sales as well - Jeep especially - but look at the RAM pick-up to again see that they are making money -while still writing off car production and conversion to SUV and Truck Production.

General Motors - which now sells more cars in China than the USA - also has new Truck Product - that may take the lead in MPG without going aluminum bed - and is bringing to the market a whole slew of new product over the Next two years. Add in that GM currently sells more pick-ups than FORD does - tells a good story when it is basically old product.

WHat is missing? Obviously the analysts failed to take into account that the SUV/crossover turn is mostly from the last two years- and all of the car makers are struggling to change over production.


ricks0mericks0me - 7/26/2018 8:52:53 PM
0 Boost
TomM: unless there is a created oil shortage.

I got a good laugh out of that comment !!!


MrEEMrEE - 7/26/2018 9:02:03 PM
+2 Boost
Trouble is spending like crazy on electric and autonomous vehicles.


TheSteveTheSteve - 7/27/2018 12:46:07 PM
+1 Boost
Well, Chrysler got two huge bailouts, and GM was resurrected from bankruptcy by a bailout. I'm shocked that throwing a mountain of money at a failing Giga Corporation does not transform them into a raging success story. That's truly puzzling :-/

(Yeah, that was sarcasm)


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