Tag: Ford

Ford claims it will have 100 self-driving cars on the road by the end of the year

Richard Levine | Getty Images
A Ford advertising billboard in New York City in January 2016

Ford aims to have 100 self-driving vehicles on the road by the end of the year, its president of mobility said on Thursday.

After reporting a top- and bottom-line earnings beat, Ford's Marcy Klevorn said on the company earnings call that the automaker's autonomous vehicle efforts are going well in Miami and Washington, D.C.

Klevorn said Ford makes an effort to test its autonomous vehicles in cities with a “really difficult setting to prove capability.” Compared to some of its competitors, like Tesla and GM, Ford said it prefers testing in places with seasonal weather changes and intense urban challenges.

Klevorn said Ford is focusing more on “complex miles” than point-A-to-point-B miles in an area where everyone is retired and the roads don't change a lot. The company will begin testing in a third city later this year.

The company announced in March that it would build a new factory in Michigan to expedite its autonomous vehicle efforts. Rival self-driving car companies, like Tesla and Waymo, are also expanding road tests.

UPDATE 4-Ford more confident of stronger 2019 despite ‘volatile environment’

DETROIT (Reuters) – Ford Motor Co on Thursday posted a better-than-expected first quarter largely due to strong pickup truck sales in its core U.S. market and said it was more confident in its forecast 2019 would bring better results than last year. FILE PHOTO: The Ford logo is seen at the North American International Auto… Continue reading UPDATE 4-Ford more confident of stronger 2019 despite ‘volatile environment’

Ford Motor Company Reports First Quarter 2019 Results

About Ford Motor Company Ford Motor Company is a global company based in Dearborn, Michigan. The company designs, manufactures, markets and services a full line of Ford cars, trucks, SUVs, electrified vehicles and Lincoln luxury vehicles, provides financial services through Ford Motor Credit Company and is pursuing leadership positions in electrification, autonomous vehicles and mobility… Continue reading Ford Motor Company Reports First Quarter 2019 Results

Volvo Cars reports first quarter 2019 results

Volvo Cars reports first quarter 2019 operating profit of SEK2,919 million   CEO Håkan Samuelsson:   “The sales growth in the first quarter proves the appeal of Volvo Cars product portfolio. We grew in all three regions and revenue continued to rise faster than volumes. Compared with last year, profitability was affected by higher tariffs… Continue reading Volvo Cars reports first quarter 2019 results

UPDATE 2-Ford Q1 profit beats Wall St view, more confident of stronger ’19

DETROIT (Reuters) – Ford Motor Co on Thursday posted a better-than-expected first-quarter as pickup truck sales remained strong in its core U.S. market and the company expressed greater confidence in its forecast that 2019 would bring better results than last year. FILE PHOTO: The Ford logo is seen at the North American International Auto Show… Continue reading UPDATE 2-Ford Q1 profit beats Wall St view, more confident of stronger ’19

UPDATE 1-Ford Q1 profit beats Wall St view, more confident of stronger ’19

(Adds details, background) By Nick Carey and Paul Lienert DETROIT, April 25 (Reuters) – Ford Motor Co on Thursday posted a better-than-expected first-quarter as pickup truck sales remained strong in its core U.S. market and the company expressed greater confidence in its forecast that 2019 would bring better results than last year. Ford has launched… Continue reading UPDATE 1-Ford Q1 profit beats Wall St view, more confident of stronger ’19

Ford jumps 4% on strong first-quarter earnings

Daniel Acker | Bloomberg | Getty Images
The Ford Motor Co. Mustang Shelby GT500 vehicle is displayed during the 2019 North American International Auto Show (NAIAS) in Detroit, Michigan,.

Ford's first-quarter earnings beat Wall Street estimates even as the industry grapples with falling sales while investing billions of dollars in new technology to develop autonomous and electric vehicles.

Ford's stock was up more than 3% in extended trading Thursday.

Here's how the company did compared with what Wall Street expected, based on average estimates compiled by Refinitiv:

Adjusted earnings per share: 44 cents vs. a forecast of 27 cents per share

Automotive segment revenue: $37.24 billion vs. a forecast of $37.08 billion

The company's total revenue was $40.34 billion during the quarter, lower than its $41.96 billion in revenue during the same quarter last year.

On an unadjusted basis, Ford's profit slid 34% from the year earlier. It earned $1.15 billion, or 29 cents a share, down from $1.74 billion, or 43 cents a share, during the same quarter last year.

Ford shares are up more than 23% year to date; however, they are down about 15% over the past 12 months.

The Detroit automaker continues to struggle overseas as demand falls across the industry in the U.S. North American profits were $2.2 billion.

The quarterly numbers come amid Ford's $11 billion restructuring plan, with an aim to slash costs by $14 billion over the next five years. The plan involves focusing on Ford's historically strongest segments like trucks, utilities, and muscle cars, while scaling back international operations, investing in new technologies, and featuring more profitable vehicles.

Ford announced Wednesday it has invested $500 million in electric truck maker Rivian to build a battery-powered electric vehicle.

The stock closed at $9.41 a share on Thursday.

The company is holding a conference call with CEO Jim Hackett and other executives at 5:30 p.m. ET to discuss the results.

This story is breaking news. Please check back for updates.

Waymo CTO Dmitri Dolgov at TC Sessions: Mobility on July 10

Long before there was an autonomous vehicle industry, there was Project Chauffeur — a secret endeavor staffed by about a dozen engineers and housed under Google’s moonshot factory X. That venture, popularly known as the Google self-driving car project, would eventually graduate from its project status to become a standalone company called Waymo in 2016… Continue reading Waymo CTO Dmitri Dolgov at TC Sessions: Mobility on July 10