Ford: “Fix Or Repair Daily,” or “Foolishly Obeying Ridiculous Directives”

Powerlineblog ^ | 07/25/2024 | Steven Hayward

[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.

[qaz123]

And if you buy a new GM, you’re sending money to Jinpig, China and the CCP

[Pollard]

Slightly different than the version I know. First word was an F word though.

I just never liked working on them. The engineers did stupid things. About the time I could check codes on a GM by sticking a paper clip into the OBD1 socket, turning the key on, and counting flashes of the dashboard light, on a Ford, you had to use an analog multimeter on a nasty plug under the hood and count sweeps of the needle.

[Tell It Right]

Foolishly Obeying Ridiculous Directives

I'd love to know what the thinking was in Ford and other car manufacturer's management decisions in going so heavy into EV's. Was it from government regulations/coercion? Was it pressure from ESG investing? Was it an attempt to gain brand loyalty in younger generations?

[Texas resident]

It from government coercion.

Nice car company you have there. Be a shame if something bad happened to it like a year long strike by the UAW.

[princeofdarkness]

Yours must have been built on a Wednesday./s

[LegendHasIt]

I don’t know.... But my Buddy (who won’t buy Fords) has been through two brand new Silverados and had to have his engine rebuilt in his also bought new Dodge Ram rebuilt twice, transmission also twice and the Injectors replaced about yearly in the same length to time as I have owned my F-150.

[wetgundog]

Found on Road Discharged. Ford Lightning/E-Mustang (what a piece of junk)

[TalBlack]

Saw a breakdown of the f150 2.7. V6. That thing isn’t a truck engine, it’s a pathetic joke. It has a BELT DRIVEN OIL PUMP. A crappy weak thin belt tiny belt. Any company that puts that into a truck is stupid .

[fishtank]

Yeah, I knew about the other “flip” word….

I still like “Flipped”, though.

[Paal Gulli]

First On Race Day.

The only American manufacturer to have won the open class at LeMans (3 times at the trot, no less) or to have been an engine supplier to the winner of F1’s World Constructor’s Championship (with the Ford Cosworth DFV V-8) three times and the winner of F1’s World Drivers Championship four times.

[Lean-Right]

First On Race Day.
I love Fords. Never owned
a Chevy. Sprinkle in a few
Jeeps when I was younger.
Always liked the distributor
up front where you could
work on it, instead of
sitting your butt on the
radiator.

[Lean-Right]

“Ford in the nadir of domestic auto manufacturing in the 1970s, when it was said that Ford stood for “Fix Or Repair Daily.”

Lets not forget Chevrolets’
abysmal engine performances
in the 80’s when just about
every V-8 of theirs on the
road ate it’s camshaft
within its’ first 40,000
miles. Or their glued on
doors falling of during
the rigours of washboarded
oilfield roads.
Or the stacks of blown up
Chrysler transmissions hidden
behind your local
transmission repair shops.
(727’s die with extended
periods of idling in park)
Anything mechanical will
eventually die. It mostly
boils down to personal
preference as to what one
feels comfortable driving.
I drive a 2014 Mustang GT.
Still tight w/no rattles.
Tires and battery the only
items replaced.