Jump to content
  • William Maley
    William Maley

    Toyota's U.S. CEO Believes Car Sales Are Close to Bottoming Out

      Also said their lineup will be biased heavily towards cars

    The past couple of years has seen a lot of talk about consumers are turning away from cars towards trucks and utility vehicles. U.S. automakers have responded to this trend by announcing cuts to their car lineup - General Motors being the latest one. But other automakers are being more cautious.

    Jim Lentz, CEO of Toyota North America told a gathering at the Detroit Economic Club last week that car sales are reaching the point of bottoming out - just under 30 percent in November sales. Unlike the American brands, Lentz isn't giving up on cars as they represent more than 4 million compact, midsize, and near-luxury cars sold to buyers.

    "There’s no way I’m going to walk away from that. We are always going to have a bias toward passenger cars,” said Lentz.

    The Associated Press reports that sales of passenger cars "are on pace to be 800,000 vehicles below 2017, while truck and SUV sales should increase by the same amount."

    Source: Associated Press



    User Feedback

    Recommended Comments



    I am going to disagree with Toyota CEO.

    I first think the recession we have starting is going to cool sales off further and that especially includes cars sales at the bottom end as lower income workers become even more frugal with their money due to credit card debt.

    Second, I think more and more people who bought in the last 1-3 years will also hold off or if in a lease renew to a like vehicle or buy outright the auto. I hear plenty of people talk about how they would like to reduce the cost of maintenance of their auto. EVs seem to be that next step, people I think are going to hold off on buying to move to an EV.

    Third, I am seeing more cities focus on inner and outer city mass transit and with the push for denser living, I suspect we will see more use in mass transit which will cool or keep even auto sales. I actually do not see them ticking up over the next 3 to 5 years over what they have been.

    Toyota very well could see a gain in car sales but that will be only due to Ford and GM leaving the car market to focus on Trucks / SUV / CUVs with traditional ICE and Electric power trains.

    • Upvote 2
    • Downvote 1

    Share this comment


    Link to comment
    Share on other sites

    I think there is further to go simply because I think a recession is on the way.  Just look at the list of vehicles on the chopping block:

    Sonic, Cruze, Impala, Fiesta, Focus, Fusion, Taurus, 300, Charger, Lacrosse, CT6, Volt

    Camry seeing a reduction in production. Accord down, Civic down..... 

    It is seismic. 

    Edited by Drew Dowdell
    missed some
    • Upvote 2

    Share this comment


    Link to comment
    Share on other sites
    33 minutes ago, Drew Dowdell said:

    I think there is further to go simply because I think a recession is on the way.  Just look at the list of vehicles on the chopping block:

    Sonic, Cruze, Impala, Fiesta, Focus, Fusion, Taurus, 300, Charger, Lacrosse, CT6, Volt

    Camry seeing a reduction in production. Accord down, Civic down..... 

    It is seismic. 

    Agree on the scale of what is happening. 

    Share this comment


    Link to comment
    Share on other sites
    2 hours ago, dfelt said:

    I am going to disagree with Toyota CEO.

    I first think the recession we have starting is going to cool sales off further and that especially includes cars sales at the bottom end as lower income workers become even more frugal with their money due to credit card debt.

    Second, I think more and more people who bought in the last 1-3 years will also hold off or if in a lease renew to a like vehicle or buy outright the auto. I hear plenty of people talk about how they would like to reduce the cost of maintenance of their auto. EVs seem to be that next step, people I think are going to hold off on buying to move to an EV.

    Third, I am seeing more cities focus on inner and outer city mass transit and with the push for denser living, I suspect we will see more use in mass transit which will cool or keep even auto sales. I actually do not see them ticking up over the next 3 to 5 years over what they have been.

    Toyota very well could see a gain in car sales but that will be only due to Ford and GM leaving the car market to focus on Trucks / SUV / CUVs with traditional ICE and Electric power trains.

    totally agree.....and adding what Drew said..we have not even seen the bottom yet.

    add the upcoming recession, and things deliver ugly.....

    • Like 1

    Share this comment


    Link to comment
    Share on other sites
    15 minutes ago, daves87rs said:

    totally agree.....and adding what Drew said..we have not even seen the bottom yet.

    add the upcoming recession, and things deliver ugly.....

    People are not going to be in a buying mood, and yes, things could get ugly. 

    • Upvote 2

    Share this comment


    Link to comment
    Share on other sites

    Here's the other thing; toyota is chained to cars - that's where their volume is. Their CUVs sell well but their trucks do not, and they can't figure out how to get around that, so cutting cars to shift (partially) to trucks wouldn't work for their business model.

    • Upvote 3

    Share this comment


    Link to comment
    Share on other sites
    57 minutes ago, balthazar said:

    Here's the other thing; toyota is chained to cars - that's where their volume is. Their CUVs sell well but their trucks do not, and they can't figure out how to get around that, so cutting cars to shift (partially) to trucks wouldn't work for their business model.

    The Tundra really is a pig compared to the F150, Silverado and Ram. I have no idea why they have such high residual value, or find buyers at all for that matter.

    Tacoma has a cult following, and is the complete opposite situation.

    • Like 1

    Share this comment


    Link to comment
    Share on other sites
    59 minutes ago, A Horse With No Name said:

    The Tundra really is a pig compared to the F150, Silverado and Ram. I have no idea why they have such high residual value, or find buyers at all for that matter.

    Tacoma has a cult following, and is the complete opposite situation.

    Toyota makes relatively few Tundras compared to demand for them, hence the high resale value.  Ditto for Tacoma.

    Toyota knows that the RAV4 and the Venza and Highlander are rolling in sales and profits, right?  They can slash Camry and Yaris and Corolla production and make more $$$$ right now if they wanted to.  RAV4 is the highest-selling (non-BOF) vehicle on the road right now.

    • Upvote 2

    Share this comment


    Link to comment
    Share on other sites

    I think manufacturers had some models they hoped would sell more, become niche sellers, like a Taurus.  But hello, the Taurus was fresh in 2010 so you have to change models much more quickly than 8 years or whatever.  

    Mfr's have to act faster to keep up with hot sellers and so I think they want to trim number of models and put more resources into nailing volume segments.  Or segments with more margin, or both.

    Still, as always happens, gas goes up in price, the market changes, and then customers respond.  We got the new Focus and new Cruze in 2011/2012 and all the luxury compact cars.  People embraced those and now after an ownership cycle of pricey gas and stagnant economy, we have cheap gas and good economy and so people want to buy Expeditions and pickups again.

    Bob Lutz i think said people will buy as large as they can afford and that is CUV's, trucks and SUV's because big sedans are taboo.

    Aging population, no one wants to bend down to get into and out of cars, this also why sedans are losing sales.  Not everyone wants an SUV but it is true part of the reason for SUV / CUV sales is the easy to get into factor.  20 years ago, not many choices for taller sitting vehicles.  Now its more the norm and more people are making the choice for it.

    "Sonic, Cruze, Impala, Fiesta, Focus, Fusion, Taurus, 300, Charger, Lacrosse, CT6, Volt"

    those are all cars with limited interior space or they are low riders that people don't want to get into and out of.  Just by that nature the numbers would go down if still on the market.  We can be simplistic and merely say if Chevy pulls the Impala, the Blazer is really it's replacement.  Ford will lose Fusion and Taurus but now the Edge may just double in volume.

    Compact CUV's give the illusion of space due to sitting high but their cargo holds with seats up are actually not equal to many sedans.  I see where compact SUV segment tops out in sales and the Blazer, Edge Murano segment gets cheaper access to entry and more market volume.  This is a segment too where A Buick is needed, a 2 row version of the Enclave / Enspire whatever.  Note Honda recognizes this and has the Passport.  2 row larger crossovers without the third row.

     

    Edited by regfootball
    • Like 1

    Share this comment


    Link to comment
    Share on other sites

    @regfootball Totally agree with what you have stated, I know way too many 50 year olds up to baby boomers who hate having to do squats to get into and out of a car and just want to slide their ass into the seat. My parents are perfect examples of why they love their Cadillac SRX 2004 and 2008 models. They can just slide into and out of those cars and are very happy with them.

    As the US ages, tastes changes and cars are on the decline, I am hoping we will see cheaper CUVs to replace them.

    • Upvote 1

    Share this comment


    Link to comment
    Share on other sites
    3 hours ago, riviera74 said:

    [Toyota] can slash Camry and Yaris and Corolla production and make more $$$$ right now if they wanted to.

    Did toyoto make any announcement that the yaris is going to be discontinued?
    They've only moved 26K thru Nov, and that's a 39% decrease from the year before. Seems logical it's on the chopping block; all the  brought-over scion models are dead, 86/FRS has only sold 3K units/yr and that's down 40%; another car waiting to die. Lexus could happily survive on the ES & LS cars (plus the SUVs)- toyoyo has a lot of house cleaning to do.

    Edited by balthazar
    • Upvote 1

    Share this comment


    Link to comment
    Share on other sites

    Cheap CUVs will not happen because that is where the demand is these days.  CUVs are the reason the average selling price (for new cars) hovers around $35K right now.

    Share this comment


    Link to comment
    Share on other sites
    9 minutes ago, riviera74 said:

    Cheap CUVs will not happen because that is where the demand is these days.  CUVs are the reason the average selling price (for new cars) hovers around $35K right now.

    One Can hope for CUVs to cover the full spectrum of price points. I think the Suzuki subcompact cuv would be doing well if it was still on sale here. Just too early before people decided to move from cars to CUVs.

    Share this comment


    Link to comment
    Share on other sites
    24 minutes ago, riviera74 said:

    Cheap CUVs will not happen because that is where the demand is these days.  CUVs are the reason the average selling price (for new cars) hovers around $35K right now.

    THIS is why electric cars will not come down in price either, esp since they are unilaterally coupled with running solidly in the red.
    Hmmm... some quick calculator work and : the 14 full electric cars available in the US right now have an average STARTING price of $43K. Not even comparable, because some -Model 3- can escalate their price by $10K or more with 3 or 4 options checked off.


    So, so far; electrics are ALSO driving the price of new cars higher. The couple of trucks in the pipeline are priced well over than number, so the average is going to increase. Get ready to pay a lot more for a new car than you already are.

    • Thanks 1
    • Sad 1
    • Upvote 1

    Share this comment


    Link to comment
    Share on other sites
    13 hours ago, riviera74 said:

    Toyota makes relatively few Tundras compared to demand for them, hence the high resale value.  Ditto for Tacoma.

    Toyota knows that the RAV4 and the Venza and Highlander are rolling in sales and profits, right?  They can slash Camry and Yaris and Corolla production and make more $$$$ right now if they wanted to.  RAV4 is the highest-selling (non-BOF) vehicle on the road right now.

    How long has the Venza been out of production?  Couple years I think.

    Share this comment


    Link to comment
    Share on other sites
    13 hours ago, regfootball said:

    I think manufacturers had some models they hoped would sell more, become niche sellers, like a Taurus.  But hello, the Taurus was fresh in 2010 so you have to change models much more quickly than 8 years or whatever.  

    Mfr's have to act faster to keep up with hot sellers and so I think they want to trim number of models and put more resources into nailing volume segments.  Or segments with more margin, or both.

    Still, as always happens, gas goes up in price, the market changes, and then customers respond.  We got the new Focus and new Cruze in 2011/2012 and all the luxury compact cars.  People embraced those and now after an ownership cycle of pricey gas and stagnant economy, we have cheap gas and good economy and so people want to buy Expeditions and pickups again.

    Bob Lutz i think said people will buy as large as they can afford and that is CUV's, trucks and SUV's because big sedans are taboo.

    Aging population, no one wants to bend down to get into and out of cars, this also why sedans are losing sales.  Not everyone wants an SUV but it is true part of the reason for SUV / CUV sales is the easy to get into factor.  20 years ago, not many choices for taller sitting vehicles.  Now its more the norm and more people are making the choice for it.

    "Sonic, Cruze, Impala, Fiesta, Focus, Fusion, Taurus, 300, Charger, Lacrosse, CT6, Volt"

    those are all cars with limited interior space or they are low riders that people don't want to get into and out of.  Just by that nature the numbers would go down if still on the market.  We can be simplistic and merely say if Chevy pulls the Impala, the Blazer is really it's replacement.  Ford will lose Fusion and Taurus but now the Edge may just double in volume.

    Compact CUV's give the illusion of space due to sitting high but their cargo holds with seats up are actually not equal to many sedans.  I see where compact SUV segment tops out in sales and the Blazer, Edge Murano segment gets cheaper access to entry and more market volume.  This is a segment too where A Buick is needed, a 2 row version of the Enclave / Enspire whatever.  Note Honda recognizes this and has the Passport.  2 row larger crossovers without the third row.

     

    Love the post.. and the part I bolded.. if U guys remember was a huge factor in why I decided to get rid of my Camaro backin '13 and get my Impala.. nowadays I won't lie.. I find myself packing on more daily miles in my YUKON than I do in my Impala.. So much so that I have considered selling my Impala, because I often make myself drive it. The Yukon, being higher up.. is simply more comfortable. My ex-wife got rid of her Malibu back in '15 to get an Encore.. same reason. In fact.. many of the people I know who have traded in cars for SUV/CUVs have all commented on the fact that they no longer have to stoop, but rather they have to stretch to get in their vehicle. The Z and V, and 66 are all "fun occasional cars." My V is the most heavily used of the three and after almost 3 years of ownership she only has 10K miles on her. My Stingray before I traded her in for the Z this past March , after 4 years of ownership, had I think 14K on the odo. 

    That being said.. CADILLAC should have.. and I hope reconsiders the death of the CT6, or replaces it with a CT8, because the 1000 sales per month are people who obviously still love cars. They could have easily bought an Escalade. BUT.. did the forecast for the XT6 suggest that they buyers may decide to go for a Full-Size Cadillac CUV over a Full-Size Sedan? Only difference being that the CT6 was RWD based.. and my argument would better suit if the car we were talking about  was the XTS. Because I have talked to people that say many times.. they went into the Chevy dealer looking at the Impala.. and drive off in a Traverse.  VERY similar pricing... fuel economy is the same damn near.. but then the Traverse is higher up and has more cargo

    $28,020†

    STARTING AT

    18/28 MPG†

    CITY/HWY

     

    $29,930†

    STARTING AT

    18  /27 MPG†

    CITY/HWY

    We are also talking about 205,718 GM31XX sales versus 70,025 E2XXL sales. The market spoke. 

    Perhaps the Blazer will take over the Impala sales, but I'm betting that it will be more in line with taking Malibu sales. I think the Equinox's success is what helped kill the Cruze.. The Bolt is to the Volt. The Malibu is to the Blazer, while the Impala is to the Traverse. Sonic is certainly to the Trax. GM might be onto something.. and this is not the same thing as in the 90s when they killed their full size Caprice/Impala, Roadmaster, Fleetwood, and Olds Custom Cruiser and replaced them essentially with Tahoe and Suburban production.. and fuel prices went back up.. and they were without many of their car sales. No.. cars and CUVs have the same damn fuel economy this time.

    BTW.. U suggest that Buick needs a 2 row version of... but they already have the ENVISION. Are U suggesting a larger SUV?

    Edited by Cmicasa the Great
    • Upvote 2

    Share this comment


    Link to comment
    Share on other sites

    True regarding the aging population.   Both my parents and my in-laws switched to crossovers because easier to get in, easier to access and more useful trunk and perceived advantage of AWD in the winter.

    Even my friend who is only 40 but used to a taller vehicles, complained how hard was to get into a Mustang when he rented one in Florida.  And Mustang is not harder to get into more than any other sedan, it is not like it is a Corvette or MIata. 

    Share this comment


    Link to comment
    Share on other sites

    Aging factor may be a slight contributor, but it's certainly not driving the trend. Neither the average American's age or the average car buyer age has remotely shown the degree of change that car sales have fallen off by. This is more so preference and/or product driven.

    EDIT :: average new car buyer age in 2000 was 43.7. As of 2015 it was 51.7- an 8 yr difference. Unless it's gone to 61.7 in the last 3 years, I don't see age driving car sales down to the circa 35% they are of the mix now.
    The 2015 average age of the population was 36.8, BTW,

    Edited by balthazar

    Share this comment


    Link to comment
    Share on other sites
    3 minutes ago, ykX said:

    True regarding the aging population.   Both my parents and my in-laws switched to crossovers because easier to get in, easier to access and more useful trunk and perceived advantage of AWD in the winter.

    Even my friend who is only 40 but used to a taller vehicles, complained how hard was to get into a Mustang when he rented one in Florida.  And Mustang is not harder to get into more than any other sedan, it is not like it is a Corvette or MIata. 

    I promise U after 40, especially with height.. a Mustang as a Daily Driver is as bad as anyone's Corvette weekend toy. Worse in fact.. same for Camaro. After 35 to be honest. 

    • Like 1

    Share this comment


    Link to comment
    Share on other sites
    32 minutes ago, Cmicasa the Great said:

    I promise U after 40, especially with height.. a Mustang as a Daily Driver is as bad as anyone's Corvette weekend toy. Worse in fact.. same for Camaro. After 35 to be honest. 

    I am 44, I am fine driving a sedan.   I drove Mustang on vacation, I was ok with it too.  I am 6'1" not super tall but not short either.  I think it is more personal than age related.  But I do understand that taller sitting position is more comfortable.  I enjoy driving my wife's crossover when we go on long trips.

    Edited by ykX
    • Like 1

    Share this comment


    Link to comment
    Share on other sites

    I'm 48, 6'0".  I've been driving SUVs as daily drivers for most of the last 24 years.  I drove Mustangs as daily drivers off and on from age 16 to 30, after that drove cars less and less.   I like the high seating position, headroom and ease of entry/exit with an SUV.  Never really liked trunks, always preferred hatchbacks, so that is part of the appeal of an SUV.

    • Like 2

    Share this comment


    Link to comment
    Share on other sites
    44 minutes ago, ykX said:

    I am 44, I am fine driving a sedan.   I drove Mustang on vacation, I was ok with it too.  I am 6'1" not super tall but not short either.  I think it is more personal than age related.  But I do understand that taller sitting position is more comfortable.  I enjoy driving my wife's crossover when we go on long trips.

    I'm not saying that the Impala is uncomfortable by any means.. what I'm saying is that my Yukon is more comfortable. I'm 6'3, 225lbs.. 46. I also have found that the seating position of any truck damn near is a full knee bend...

    perfect-fit-image-box.jpg

     

    where as the position of most cars.. even the Taurus, Impala, Accord, CT6, CTS, E-Class, S-Class, LS460.. etc.. is a position where your legs are not fully bent. 

    aid829460-v4-728px-Adjust-Seating-to-the

    The seats are simply HIGHER from the floor. 

    • Upvote 2

    Share this comment


    Link to comment
    Share on other sites
    19 minutes ago, Drew Dowdell said:

    Driving a crossover is more like the shape we're forced to sit in at our desks all day. 

    Which I prefer than the Lazy Boy recliner seating. I loved my grandfather's Cadillac Brougham but I always fell asleep in that car. Way to soft for me if I was driving.

    Share this comment


    Link to comment
    Share on other sites

    If the news is SPOT on with predictions for a Recession that will hit hard in 2019, then Toyota is gonna be in for a shock.

    https://www.nytimes.com/2018/12/10/style/2019-financial-crisis.html

    5 major points from the NY Times that covers some of the same points various members here have stated.

    http://fortune.com/2018/12/11/janet-yellen-warns-another-financial-crisis-could-be-brewing/

    Janet Yellen Former Chairwoman of the Federal Reserve is blowing a horn about the bank bundled up leveraged loans that are being sold off to the unsuspecting and the crash this debt could cause on the US.

    She has walked back her Optimism from earlier this year and now worries about the holes in the financial system that have been created by DC.

    To Quote her: Yellen, now an economist at the Brookings Institution, has previously spoken out against U.S. President Donald Trump’s unprecedented criticism of the Fed’s policies. “To totally undermine these institutions that are assets to the U.S. and the globe is worrisome,” she said.

    So Toyota CEO, I would be thinking TWICE about your car sales and the future growth.

    I perceive a slump coming up for the auto industry and some companies just might have to declare bankruptcy.

    I hope the Ford Family has been saving their Pennies as I think Ford is gonna need a bailout.

    Share this comment


    Link to comment
    Share on other sites



    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.




  • Similar Content

    • By William Maley
      Jim Hackett's tenure as Ford CEO will be coming to a close on October 1st as he will retire from the position. His replacement is Jim Farley, currently Ford's Chief Operating Officer, a role he took on at the beginning of this year. In a press release, Ford said the two will be working together over the next two months on the transition. Hackett will stay on as "special advisor" for some time after.
      “I am very grateful to Jim Hackett for all he has done to modernize Ford and prepare us to compete and win in the future. Our new product vision – led by the Mustang Mach-E, new F-150 and Bronco family – is taking shape. We now have compelling plans for electric and autonomous vehicles, as well as full vehicle connectivity. And we are becoming much more nimble, which was apparent when we quickly mobilized to make life-saving equipment at the outset of the pandemic,” said Ford executive chairman, Bill Ford.
      Hackett became Ford's CEO in 2017 after the ousting of then CEO Mark Fields. His short tenure brought forth some major and controversial decisions such as Ford killing off most of their passenger car nameplates to focus on trucks and utility vehicles; spending $11 billion in electric vehicles by 2022, and the introductions of the Mach-E, 2021 F-150, and Bronco. He has also dealt with a lot frustration from various groups as The Detroit News outlines,
      Hackett admitted that his tenure did cause a fair amount of friction, but said his efforts are starting to show.
      "I aimed for moving ahead versus just moving fast. Could we aim for a longer-arc kind of reward. In this case, for the three years it takes to get products to market, you're starting to see the fruits of our labor."
      Farley, who has been with Ford since 2007, knows he has a tough road ahead. Aside from realizing the various paths laid out by Hackett, he also has to deal with the issues of the COVID-19 pandemic and hopefully launch two of Ford's key product without any issues.
      Source: Ford
      Press Release is on Page 2


      FORD ANNOUNCES JIM HACKETT TO RETIRE AS PRESIDENT AND CEO; JIM FARLEY TO SUCCEED HACKETT AS COMPANY CONTINUES TRANSFORMATION
      Jim Hackett, who has led Ford Motor Company’s transformation since 2017 as president and CEO, has elected to retire from the company Jim Farley, currently chief operating officer, becomes president and CEO of Ford effective Oct. 1. He was also elected to the Ford board of directors. He will work closely with Jim Hackett on the transition over the next two months Seamless CEO transition underscores strength of Ford’s leadership team, succession planning, and company progress over the past three years, Executive Chairman Bill Ford says DEARBORN, Mich., Aug. 4, 2020 – Ford Motor Company today announced that Jim Hackett, who has led the company’s transformation since 2017, plans to retire from the company. Jim Farley has been named the company’s new president and CEO and will join the board of directors, effective Oct. 1.
      Hackett, 65, and Farley, 58, will work together on a smooth leadership transition over the next two months.
      Under Hackett, Ford moved aggressively into the new era of smart vehicles and drove a deeper focus on customers’ wants and needs. At the same time, Ford improved the fitness of the base business – restructuring operations, invigorating the product portfolio and reducing bureaucracy.
      “I am very grateful to Jim Hackett for all he has done to modernize Ford and prepare us to compete and win in the future,” said Bill Ford, Ford’s executive chairman. “Our new product vision – led by the Mustang Mach-E, new F-150 and Bronco family – is taking shape. We now have compelling plans for electric and autonomous vehicles, as well as full vehicle connectivity. And we are becoming much more nimble, which was apparent when we quickly mobilized to make life-saving equipment at the outset of the pandemic.”
      Farley, an automotive leader with deep global experience and a successful track record, collaborated with Hackett over the past three years to develop and execute Ford’s Creating Tomorrow Together plan to transform Ford into a higher-growth, higher-margin business.
      “Jim Farley matches an innate feel for cars and customers with great instincts for the future and the new technologies that are changing our industry,” Bill Ford said. “Jim’s passion for great vehicles and his intense drive for results are well known, and I have also seen him develop into a transformational leader with the determination and foresight to help Ford thrive into the future.”
      Farley joined Ford in 2007 as global head of Marketing and Sales and went on to lead Lincoln, Ford South America, Ford of Europe and all Ford global markets in successive roles. In April 2019, Farley was chosen to lead Ford’s New Businesses, Technology & Strategy team, helping the company determine how to capitalize on powerful forces reshaping the industry – such as software platforms, connectivity, AI, automation and new forms of propulsion. He was named chief operating officer in February of this year.
      Hackett, who will continue as a special advisor to Ford through March of 2021, said the time is right to pass the mantle of leadership to Jim Farley.
      “My goal when I took on the CEO role was to prepare Ford to win in the future,” Hackett said. “The hardest thing for a proud, long-lived company to do is change to meet the challenges of the world it’s entering rather than the world it has known. I’m very proud of how far we have come in creating a modern Ford and I am very optimistic about the future.
      “I have worked side-by-side with Jim Farley for the past three years and have the greatest confidence in him as a person and a leader,” Hackett said. “He has been instrumental in crafting our new product portfolio and redesigning our businesses around the world. He is also a change agent with a deep understanding of how to lead Ford in this new era defined by smart vehicles in a smart world.”
      Said Farley: “I love Ford and I am honored by the opportunity to serve and create value for Ford’s employees, customers, dealers, communities and all of our stakeholders. Jim Hackett has laid the foundation for a really vibrant future and we have made tremendous progress in the past three years. I am so excited to work together with the whole Ford team to realize the full potential of this great company in a new era.”

      View full article
    • By William Maley
      Jim Hackett's tenure as Ford CEO will be coming to a close on October 1st as he will retire from the position. His replacement is Jim Farley, currently Ford's Chief Operating Officer, a role he took on at the beginning of this year. In a press release, Ford said the two will be working together over the next two months on the transition. Hackett will stay on as "special advisor" for some time after.
      “I am very grateful to Jim Hackett for all he has done to modernize Ford and prepare us to compete and win in the future. Our new product vision – led by the Mustang Mach-E, new F-150 and Bronco family – is taking shape. We now have compelling plans for electric and autonomous vehicles, as well as full vehicle connectivity. And we are becoming much more nimble, which was apparent when we quickly mobilized to make life-saving equipment at the outset of the pandemic,” said Ford executive chairman, Bill Ford.
      Hackett became Ford's CEO in 2017 after the ousting of then CEO Mark Fields. His short tenure brought forth some major and controversial decisions such as Ford killing off most of their passenger car nameplates to focus on trucks and utility vehicles; spending $11 billion in electric vehicles by 2022, and the introductions of the Mach-E, 2021 F-150, and Bronco. He has also dealt with a lot frustration from various groups as The Detroit News outlines,
      Hackett admitted that his tenure did cause a fair amount of friction, but said his efforts are starting to show.
      "I aimed for moving ahead versus just moving fast. Could we aim for a longer-arc kind of reward. In this case, for the three years it takes to get products to market, you're starting to see the fruits of our labor."
      Farley, who has been with Ford since 2007, knows he has a tough road ahead. Aside from realizing the various paths laid out by Hackett, he also has to deal with the issues of the COVID-19 pandemic and hopefully launch two of Ford's key product without any issues.
      Source: Ford
      Press Release is on Page 2


      FORD ANNOUNCES JIM HACKETT TO RETIRE AS PRESIDENT AND CEO; JIM FARLEY TO SUCCEED HACKETT AS COMPANY CONTINUES TRANSFORMATION
      Jim Hackett, who has led Ford Motor Company’s transformation since 2017 as president and CEO, has elected to retire from the company Jim Farley, currently chief operating officer, becomes president and CEO of Ford effective Oct. 1. He was also elected to the Ford board of directors. He will work closely with Jim Hackett on the transition over the next two months Seamless CEO transition underscores strength of Ford’s leadership team, succession planning, and company progress over the past three years, Executive Chairman Bill Ford says DEARBORN, Mich., Aug. 4, 2020 – Ford Motor Company today announced that Jim Hackett, who has led the company’s transformation since 2017, plans to retire from the company. Jim Farley has been named the company’s new president and CEO and will join the board of directors, effective Oct. 1.
      Hackett, 65, and Farley, 58, will work together on a smooth leadership transition over the next two months.
      Under Hackett, Ford moved aggressively into the new era of smart vehicles and drove a deeper focus on customers’ wants and needs. At the same time, Ford improved the fitness of the base business – restructuring operations, invigorating the product portfolio and reducing bureaucracy.
      “I am very grateful to Jim Hackett for all he has done to modernize Ford and prepare us to compete and win in the future,” said Bill Ford, Ford’s executive chairman. “Our new product vision – led by the Mustang Mach-E, new F-150 and Bronco family – is taking shape. We now have compelling plans for electric and autonomous vehicles, as well as full vehicle connectivity. And we are becoming much more nimble, which was apparent when we quickly mobilized to make life-saving equipment at the outset of the pandemic.”
      Farley, an automotive leader with deep global experience and a successful track record, collaborated with Hackett over the past three years to develop and execute Ford’s Creating Tomorrow Together plan to transform Ford into a higher-growth, higher-margin business.
      “Jim Farley matches an innate feel for cars and customers with great instincts for the future and the new technologies that are changing our industry,” Bill Ford said. “Jim’s passion for great vehicles and his intense drive for results are well known, and I have also seen him develop into a transformational leader with the determination and foresight to help Ford thrive into the future.”
      Farley joined Ford in 2007 as global head of Marketing and Sales and went on to lead Lincoln, Ford South America, Ford of Europe and all Ford global markets in successive roles. In April 2019, Farley was chosen to lead Ford’s New Businesses, Technology & Strategy team, helping the company determine how to capitalize on powerful forces reshaping the industry – such as software platforms, connectivity, AI, automation and new forms of propulsion. He was named chief operating officer in February of this year.
      Hackett, who will continue as a special advisor to Ford through March of 2021, said the time is right to pass the mantle of leadership to Jim Farley.
      “My goal when I took on the CEO role was to prepare Ford to win in the future,” Hackett said. “The hardest thing for a proud, long-lived company to do is change to meet the challenges of the world it’s entering rather than the world it has known. I’m very proud of how far we have come in creating a modern Ford and I am very optimistic about the future.
      “I have worked side-by-side with Jim Farley for the past three years and have the greatest confidence in him as a person and a leader,” Hackett said. “He has been instrumental in crafting our new product portfolio and redesigning our businesses around the world. He is also a change agent with a deep understanding of how to lead Ford in this new era defined by smart vehicles in a smart world.”
      Said Farley: “I love Ford and I am honored by the opportunity to serve and create value for Ford’s employees, customers, dealers, communities and all of our stakeholders. Jim Hackett has laid the foundation for a really vibrant future and we have made tremendous progress in the past three years. I am so excited to work together with the whole Ford team to realize the full potential of this great company in a new era.”
    • By William Maley
      The Toyota Tundra holds the title of being the oldest full-size truck, coming in at thirteen years without any sort of redesign. On one hand, this makes the Tundra a very reliable and dependable truck. On the other hand, the Tundra isn’t able to fully compete with the likes GM, Ram, or Ford with their more modern designs and hardware. But there is one exception to this where the Tundra can be a good alternative to the Detroit Three, and it comes in the form of the TRD Pro.
      Color can do a lot to a vehicle such as making an older model look modern or highlighting some of the polarizing elements of a design. This Army Green paint, which is new on all TRD Pros for 2020 makes the Tundra look younger and a bit more aggressive.  Inside, you can tell that the Tundra is getting up there in age. The design hasn’t changed much and material quality cannot even compare to the likes of GM and Ram’s trucks. But I like the large buttons and knobs for various controls. Not only does it make it easier to find, but it means you can have a set of gloves on and easily control various aspects. One key improvement for 2020 is Apple CarPlay and Android Auto being added to the Tundra’s Entune system, which gives drivers another choice in their infotainment choices. The Crewmax model seen here is huge. Step into the back seat and you might think you entered a limo with an endless amount of head and legroom on offer. I do wish the seats had a little bit more padding. Only one engine is available on the 2020 Tundra; a 5.7L V8 with 381 horsepower and 401 pound-feet of torque. This is teamed with a six-speed automatic and four-wheel drive. This engine provides plenty of thrust and provides an engine burble that you might expect from one of the Detroit three’s V8 trucks. The automatic is very smooth when changing gear and seems to where it needs to be in any situation. The downside to this V8 is fuel economy. The EPA says TRD Pro CrewMax will return 13 City/17 Highway/14 Combined. I saw an average of 14.2 mpg during my week of a 60/40 mix of highway and city driving. Maybe a couple more gears for the automatic could improve this. Toyota has kitted the Tundra TRD Pro with some serious off-road chops; Fox internal bypass dampers for all four corners, TRD springs that increase wheel travel, and a set of Michelin LTX off-road tires. Unfortunately, I didn’t get a chance to try it off-road. But other reviewers who have taken it off the beaten path report the TRD Pro is very capable.  What I can report is the changes to the suspension makes for a surprisingly comfortable ride. This suspension does mean you will experience a fair amount of body roll when cornering, but that is to be expected with a truck like this. My Tundra TRD Pro CrewMax starts at $52,780. With some accessories and destination, the price climbs $55,020. The Tundra is getting long in the tooth as evidenced by the interior and poor fuel economy from the V8 engine. But the TRD Pro helps freshen the Tundra a bit and makes a compelling option for those who plan on spending more time off the beaten path. Disclaimer: Toyota Provided the Tundra, Insurance, and One Tank of Gas
      Year: 2020
      Make: Toyota
      Model: Tundra
      Trim: TRD Pro CrewMax
      Engine: 5.7L DOHC 32-Valve i-FORCE V8
      Driveline: Six-Speed Automatic, Four-Wheel Drive
      Horsepower @ RPM: 381 @ 5,600
      Torque @ RPM: 401 @ 3,600
      Fuel Economy: City/Highway/Combined - 13/17/14
      Curb Weight: N/A
      Location of Manufacture: San Antonio, TX 
      Base Price: $52,780
      As Tested Price: $55,020 (Includes $1,495.00 Destination Charge)
      Options:
      Chrome Tube Steps - $535.00
      Stainless Steel Door Edge Guard - $140.00
      Door Sill Protector - $70.00

      View full article
    • By William Maley
      The Toyota Tundra holds the title of being the oldest full-size truck, coming in at thirteen years without any sort of redesign. On one hand, this makes the Tundra a very reliable and dependable truck. On the other hand, the Tundra isn’t able to fully compete with the likes GM, Ram, or Ford with their more modern designs and hardware. But there is one exception to this where the Tundra can be a good alternative to the Detroit Three, and it comes in the form of the TRD Pro.
      Color can do a lot to a vehicle such as making an older model look modern or highlighting some of the polarizing elements of a design. This Army Green paint, which is new on all TRD Pros for 2020 makes the Tundra look younger and a bit more aggressive.  Inside, you can tell that the Tundra is getting up there in age. The design hasn’t changed much and material quality cannot even compare to the likes of GM and Ram’s trucks. But I like the large buttons and knobs for various controls. Not only does it make it easier to find, but it means you can have a set of gloves on and easily control various aspects. One key improvement for 2020 is Apple CarPlay and Android Auto being added to the Tundra’s Entune system, which gives drivers another choice in their infotainment choices. The Crewmax model seen here is huge. Step into the back seat and you might think you entered a limo with an endless amount of head and legroom on offer. I do wish the seats had a little bit more padding. Only one engine is available on the 2020 Tundra; a 5.7L V8 with 381 horsepower and 401 pound-feet of torque. This is teamed with a six-speed automatic and four-wheel drive. This engine provides plenty of thrust and provides an engine burble that you might expect from one of the Detroit three’s V8 trucks. The automatic is very smooth when changing gear and seems to where it needs to be in any situation. The downside to this V8 is fuel economy. The EPA says TRD Pro CrewMax will return 13 City/17 Highway/14 Combined. I saw an average of 14.2 mpg during my week of a 60/40 mix of highway and city driving. Maybe a couple more gears for the automatic could improve this. Toyota has kitted the Tundra TRD Pro with some serious off-road chops; Fox internal bypass dampers for all four corners, TRD springs that increase wheel travel, and a set of Michelin LTX off-road tires. Unfortunately, I didn’t get a chance to try it off-road. But other reviewers who have taken it off the beaten path report the TRD Pro is very capable.  What I can report is the changes to the suspension makes for a surprisingly comfortable ride. This suspension does mean you will experience a fair amount of body roll when cornering, but that is to be expected with a truck like this. My Tundra TRD Pro CrewMax starts at $52,780. With some accessories and destination, the price climbs $55,020. The Tundra is getting long in the tooth as evidenced by the interior and poor fuel economy from the V8 engine. But the TRD Pro helps freshen the Tundra a bit and makes a compelling option for those who plan on spending more time off the beaten path. Disclaimer: Toyota Provided the Tundra, Insurance, and One Tank of Gas
      Year: 2020
      Make: Toyota
      Model: Tundra
      Trim: TRD Pro CrewMax
      Engine: 5.7L DOHC 32-Valve i-FORCE V8
      Driveline: Six-Speed Automatic, Four-Wheel Drive
      Horsepower @ RPM: 381 @ 5,600
      Torque @ RPM: 401 @ 3,600
      Fuel Economy: City/Highway/Combined - 13/17/14
      Curb Weight: N/A
      Location of Manufacture: San Antonio, TX 
      Base Price: $52,780
      As Tested Price: $55,020 (Includes $1,495.00 Destination Charge)
      Options:
      Chrome Tube Steps - $535.00
      Stainless Steel Door Edge Guard - $140.00
      Door Sill Protector - $70.00
    • By William Maley
      Automakers for the most part were hurting in sales during the second quarter. The COVID-19 pandemic and the economy coming to a screeching halt for a brief time caused new car sales to drop by a third according to Automotive News. But there is a slim silver lining to this, full-size pickups have moved into being the best-selling segment of vehicles.
      According to data from Automotive News, one out of four vehicles sold between April and June was a pickup truck. This helped put them ahead of compact crossovers, which have held the top spot for some time. The reason is that trucks didn't take as big of a hit due to 0 percent financing offers from automakers to help bring in buyers. A large number of dealers said they sold the majority of trucks sitting on their lots.
      Mark LaNeve, Ford's vice president of U.S. marketing, sales and service provides another reason why trucks didn't fall off a cliff. Speaking to AN, he said that people need trucks for work and "affluent consumers who often buy such vehicles have been less affected by the pandemic."
      Trucks still took quite the hit in the quarter,
      Chevrolet Silverado: Down 14% Ford F-Series: Down 23% GMC Sierra: Down 4% Ram: Down 35% Source: Automotive News (Subscription Required)

      View full article
  • Posts

  • Social Stream

  • Today's Birthdays

    1. fancytommy87
      fancytommy87
      (35 years old)
    2. Joshua Barnes
      Joshua Barnes
      (35 years old)
  • Who's Online (See full list)

  • My Clubs

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets

facebook

×
×
  • Create New...