Posted on 07/25/2024 2:45:28 PM PDT by DFG
Amidst today’s wild roller-coaster ride on Wall Street, the news about Ford Motors jumps out. Here’s Barron’s headline:
Ford Stock Had Its Worst Day Since 2008
Ford Motor reported earnings that were worse than what Wall Street had expected: Its commercial business couldn’t overcome higher warranty costs. And the stock took it on the chin Thursday. . .
On Wednesday, Ford announced a second-quarter operating profit of $2.8 billion, down 26% from $3.8 billion reported in the second quarter of 2023. Wall Street was looking for $3.7 billion, according to FactSet.
Barron’s goes on to note that Ford is experiencing very high warranty expenses right now, which brings back to mind the nickname for Ford in the nadir of domestic auto manufacturing in the 1970s, when it was said that Ford stood for “Fix Or Repair Daily.”
But as you proceed through the story, you see an additional factor:
Ford’s traditional car business, called Ford Blue, generated an operating profit of $1.2 billion, some $300 million better than in the first quarter. More improvement was expected.
“Traditional car business” means old-fashioned internal combustion engines—you know, the kind Kamala Harris wants to ban. Ford still makes good money making those models.
How about their electric car division? I’m sure you won’t be surprised to hear this news:
Ford’s EV business, called Model e, lost less money—a positive. It reported a loss of $1.1 billion compared with $1.3 billion in the first quarter.
(Excerpt) Read more at powerlineblog.com ...
F****d
On a
Real
Deal?
I always liked “Found On Road Dead.” :)
Ya’ beat me to that one.
Backwards drive return on foot.
Flip Over, Read Directions
This is yet another examples of what happens when you let the bean counters and the social warriors overrule the engineers.
Side story: A was at a Ford dealership about a month ago, looking at their new small truck, the Maverick. I won’t buy any vehicle made in Mexico. The quality just isn’t there. No worries, said the Ford salesman. All of our Mavericks are made in Texas.
I later strolled the lot on my own. Every Maverick there was made in Hermosillo, Mexico.
I know a car salesman wouldn’t lie to me. So I can only conclude that Texas has invaded Hermosillo, Mexico and annexed it.
“Model E”?
That came WAY BEFORE the Model T. So it must be a primitive forerunner.
Found On Road Dead
Found On Road Dead
Flipped Over Rebuilt Dodge
You beat me…should have read the comments.
To an old Army LT friend who loved Fords. We always haranged each other over his favorite and mine—Chevys.
Me: “Found on Road Dead”
Him smiling: “First on Race Day!”
Me: “Yea...In the pits!”
He stomped off angry as all getout.
I remember FORD as For Ordinary Repairs Daily.
Both Ford and Chevy have some unbelievable engineering issues these days; I swear that they are actually trying to sabotage the internal combustion engine. Of course, with the government pushing mileage/emissions more and more, they are taking bigger and bigger chances with durability all the time (belt-driven oil pumps, oil that would be better off in a mechanical watch, “tension-free” piston rings, cylinder-on-demand systems that fail at 80K).
I wouldn’t trust either maker to produce an engine that can go 100K miles without a major, expensive teardown, even if properly maintained. And don’t get me started on the other “US” manufacturer.
Fix
Or
Repair
Daily
Over the years I have owned Ford, Chevy and Dodge trucks.
I recently bought a 5 year old Toyota Sequoia and intend to hang on to it for the rest of my life.
Well, my 2003 F-150 has been a superb vehicle, and I still have a realistic hope that it will outlive me, with no major repairs, despite my spotty maintenance.
One of my regrets is trading in my 1977 Chevy Malibu. It was the best car ever, drove 100k mikes without a single repair, handled well, did not need snow tires in Chicago winters, and ride was comfortable. The 1978 model was downsized and my cousin had lots of problems with it. He never bought another American car after that experience.
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