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Ford's chief executive has raw words for employees after "mediocre" 2018



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Morning Shift All daily news about the car in a convenient location. Is not your time more important? Ford Chief Executive Officer does not say the word when he wants to turn things around, Cadillac wants to do the same, and Nissan's CEO says he plans to withdraw. T t All this and still in "Morning Shift" on Friday, January 25, 2018

1st Gear: No More Mr. Nice Guy

Ford's CEO, Jim Hackett way to end all this and say: so in an email sent to employees as seen and reported by Reuters. Hackett said in the e-mail that 2018, the year in which Ford was forged money money, was "mediocre by any standard," and it was time to improve things.

The improvement is perhaps the best route since investors are not happy with Ford and it's hard to tell what it really wants to do at this stage, given its dramatic moves to eliminate small cars in North America and "passing to Mobility Ford has just announced a alliance for trucks and minibuses with Volkswagen, but that should help save some money.

Ford announced its fourth quarter performance on Wednesday, taking into account operating profit of $ 7 billion in 2018, with a profit margin of 4.4%. Last week, Ford announced that the operating profit target was more than 8%.

"2018 was mediocre by any standard," Hackett said in the e-mail. "Yes, last year, we've earned $ 7 billion. But think about this: it represents 4.4% of the operating margin, about half of what we believe is an appropriate margin. So we strive much closer to 14 billion dollars. "

Hackett did not schedule a $ 14 billion target. A spokesman for Ford said Hackett was just doing math to show employees how the margin goal translates as a full profit. But Hackett, who has been Ford's CEO for nearly two years, is a bit more specific about last year, quoted by Reuters as saying it's time to "bury the year (2018) in a deep grave, mourn" over what might have been and become super focused on the meeting, and actually goes beyond that year's plan. "

Oh. Well then. Sounds good.

Second Transmission: Nissan's CEO Plans to Retire

After leading the charge against former Nissan-Renault boss Carlos Gosnon, who was jailed for allegedly violating financial obligations in November, Nissan's authority, that he plans to step as a Nissan CEO. Ghosn left Renault from prison on Wednesday night.

While it is strange that these two pieces of news come so close to each other, it makes sense. Renault and Nissan have an alliance to try to maintain, and their relationship is not that big, as Nissan's CEO has sent the forces to Renault's Chief Executive Officer.

In addition to all the reports of how hostile it has been between the two CEOs and the companies, the rocky relationship is equally obvious even from an organizational point of view, as Nissan quickly expelled Ghosn and Renault retained him as Chief Executive Officer for months after the arrest.

It makes sense only in the sense of saving the relationship, really, to throw the two at the top and try to start over. Nobody forgets what happened in the near future, so companies can also appoint people other than those who want to get each other to try and save things.

This way, Automotive News reports that Saikawa wants to "go" after doing what he thought was most important: "reforming bad governance, which, he says, has weakened the Japanese automaker," Automotive News writes. From the story:

Renault's decision to abandon its leader and the prospect that Saikawa may soon relay the reins can help to remove part of the mistrust that has been built on both sides of the union. Prior to the arrest, Gos' chairmanship in the companies did not release the tension and prevented the collisions from collapsing. It will now be up to Saikawa and Jean-Dominique Senard, Michelin's 65-year-old CEO, named by Renault on Thursday, to take over the post and chair the French carmaker's relationship with Nissan and the alliance. […]

Senard is backed by France, Renault's most powerful shareholder. His appointment may mean that he will be more open to the contribution of Goshen politicians, who sometimes confronts the government. Renault's new president will join the Nissan board and has the task of proposing changes to the Alliance's structure.

So, if all goes according to the plan, there will be a relatively empty sheet at the top of Renault and Nissan, they are trying to get back from all this. Maybe it will help.

Third gear: Cadillac wants to make his year in 2019

Cadillac is in a rough time. Its composition has long been dominated by sedans that do not do well and are behind the crossover and the SUV wave. General Motors executives can not even agree with the brand or its current election.

But never fear, another CEO is here to tell us that things will be good and look promising for the future. Cadillac Chief Marketing Officer Deborah Wahl spoke to a group on Thursday and said "unprecedented product assault" should help the brand end the three-year drop in sales in the US, according to Automotive News. , "SUV Cadillac Years Year", the company wants double-digit global growth. Global growth, however, is not an urgent problem as Automotive News reports that Cadillac has set a global record for sales last year thanks to China. And while 2019 may be a jeep, Wahl said that Cadillac does not give up the sedans – even if we all got mixed reports of the CT6, which started in 2015, had to die in the United States in June. and now is likely to continue to live.

Despite the plans to close the Detroit-Hammartk plant, which produces the sedan CT6, Cadillac executives have said they value the options to keep the car in the range. Wahl said they planned to sell it for at least the rest of 2019 and by 2020. "The news of his death is greatly exaggerated," Wool said. "This car can offer a lot."

This includes a new Blackwing engine, 550 hp. V-8 in the CT6-V, which is scheduled to arrive in mid-2019, starting at $ 89,785, including shipping. 19659009] "I think this is the way new legends are made and how the mystique recovers and polishes," she said.

In principle everything is fine in Cadillac. The brand will drive GM traffic to electric vehicles, have not you heard? Everything is great. Things are going well. Seriously, life is wonderful in Cadillac. Why are you still asking?

Can I change the theme now?

Fourth Gear: Ford Can Lose $ 1 Billion

Back to Ford very quickly, and Brexit.

The United Kingdom leaves the European Union in about two months and feels that the country can leave without establishing arrangements for managing relations between them in the future. That would mean Brexit without a deal and it would not be great for car makers like Ford. Reuters reports that the internal calculations are that Brexit without a deal can cost Ford between $ 500 and $ 1 billion, depending on various factors. Some of the potential consequences of a deal-free deal include higher tariffs, supply chain issues and job threats, and these are things that threaten other carmakers and manufacturers.

The UK is to leave the European Union for 64 days, and with Prime Minister Teresa May fails to win support for the deal, companies are increasingly worried about the deal, or the lack of such a deal. the possibility of chaotic Brexit.

Police Bob Shanks on Wednesday refused to say what the financial impact of a deal might be, but Ford has already planned for that.

"We obviously have already started working on the possibility of having a firm Brexit," he told reporters at No. 2 of the US carmaker outside Detroit. "We certainly hope this will not happen, but we can not wait."

"We are actually spending, doing things now to prepare for it, so it will have an impact, which is a significant impact," he added.

Ford is Britain's best-selling car brand, according to Reuters, and employs around 13,000 people. But Shanks said that Brexit would not be signed if it happened to be "catastrophic."

Fifth Gear: Hyundai sales in China hit

Ford and Cadillac are not the only carmakers to do the job. Hyundai announced its first quarterly net loss after the company changed its accounting methods in 2011, with China colliding with sales, which led to a decline in the number. The Nikkei Asian Review reported that Hyundai reported a net loss of nearly $ 115 million for the fourth quarter, which ended last month, partly due to the decline in sales in China. Car sales in China surprisingly slowed down this year and they certainly slowed their growth for Hyundai.

This is a more detailed picture of how things happen from Hyundai in China, by Nikkei Asian Review:

Hyundai, who along with Kia Motors subsidiary was China's third-largest automaker, is now overloaded with overcapacity , with sales in China in 2018 being lower than the target and reaching only half of their total production capacity.

for the first time in more than two decades last year, affected by the Sino-American trade war and the gradual abolition of tax cuts on smaller cars.

Hyundai sold 790,000 cars in China last year – less than its target of 900,000 and almost seamlessly from its six-year-old bottom of 785,000 in 2017 when the diplomatic dispute between Seoul and Beijing affected consumers' feelings about Korean products. The total capacity of Hyundai is 1.65 million cars in China.

In addition to the drop in sales, Hyundai and Kia have some potentially defective, potentially dangerous engines to watch.

Back: Former Fiat Giovanni Annelli's head dies

Giovanni Annelli, whose grandfather founded Fiat, died on January 25, 2003 at the age of 81, according to History. Agnelli, who takes over as Fiat's head in 1966, is the one that expands the company internationally.

Neutral: Can crossovers use Cadillac? Of course, crossovers are popular. But are they popular enough?


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