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Ford earnings strong; N. America profit record set

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http://www.detroitnews.com/story/business/autos/ford/2015/07/28/ford-announce-second-quarter-earnings/30771271/

Dearborn — Ford Motor Co. on Tuesday reported stronger-than-expected earnings of $1.9 billion, including a best-ever quarterly profit in North America.

The Dearborn automaker’s pre-tax profit was $2.9 billion, up $269 million from a year ago, and it posted revenue of $37.3 billion, beating analysts estimates of about $35.3 billion. Ford posted earnings-per-share of 47 cents per share, beating analysts estimates by a dime.

Ford’s earnings were up 44 percent from the same period a year ago, marking its best automotive quarterly profit since 2000, and third best since the Great Recession.

“We delivered an outstanding second quarter, a great first half of 2015, and we are confident the second half of the year will be even stronger,” President and CEO Mark Fields said in a statement.


"Shanks said the automaker is down about 25,000 trucks from the same time a year ago, but is “extremely pleased and satisfied” with the truck’s performance so far. Average transaction prices are the highest in the industry, incentive spending is down and the F-150 is leaving dealer lots at twice the rate of competitors’ vehicles.

“Ford’s long-term outlook remains positive, but it has to resolve F-150 production issues to leverage the new truck’s — and overall company’s — full potential,” said Karl Brauer, senior analyst with Kelley Blue Book.

Overall, Ford has completed 12 of its 16 planned new product introductions in North America this year. “Our launches have gone very, very well,” Shanks said."

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I call Bull$h! on this Report in regards to the Truck Info. This clearly smells of Accounting Manipulation.

 

Per the other thread where we have discussed this, these numbers DO NOT add up.

 

The 4 Ford local dealers in washington state by my house:

 

Sound Ford with 273 - 2015 F150 trucks

Bill Pierre Ford 78 - 2015 F150 trucks

Kirkland Ford 182 - 2015 F150 trucks

Harris Ford 116 - 2015 F150 trucks.

 

So in just these 4 FORD dealer you have 649 F150 2015 Pickup Trucks sitting in Inventory.

 

There is a total of 56 dealers in Washington state. So if we go with a basic average on the low side of 75 trucks per dealer for the F150 2015 model, that is 4,200 F150 2015 trucks sitting on dealer lots in my state. I would say FORD had a MAJOR Failure for this truck when you have just 649 of these trucks sitting on 4 dealers lots.

 

To be Fair, I checked locally here and this is what I found which shows a big difference from FORD.

 

Jet Chevrolet - 28 - 2015 - 1500

Good Chevrolet - 74 - 2015 - 1500 - Thank you Surreal

Puyallup Chevrolet - 17 - 2015 - 1500

SunSet Chevrolet - Largest Chevy Dealer in State - 147 - 2015 - 1500

Chuck Olsen Chevrolet - 14 - 2015 - 1500

Lee Johnson Chevrolet - 31 - 2015 - 1500

Roy Robinson Chevrolet - 27 - 2015 - 1500

 

So the dealers around me have considerably less than the FORD dealers. SunSet and Good are the top two in our state and they still have far less. 

 

Something does not add up for FORD and their Trucks.

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Not to minimize your efforts at proving Ford is failing with trucks, but I stopped after checking the first claim you made of 2015 F150’s in stock at Sound Ford in Washington, and their new stock is only 25 units.

 

http://www.soundford.com/search/new/tp/?q=&md=100-f150&yr=2015

 

 

So forgive me if I tend to believe execs who are held accountable, over forum discussions and opinions.

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I call Bull$h! on this Report in regards to the Truck Info. This clearly smells of Accounting Manipulation.

 

Per the other thread where we have discussed this, these numbers DO NOT add up.

 

The 4 Ford local dealers in washington state by my house:

 

Sound Ford with 273 - 2015 F150 trucks

Bill Pierre Ford 78 - 2015 F150 trucks

Kirkland Ford 182 - 2015 F150 trucks

Harris Ford 116 - 2015 F150 trucks.

 

So in just these 4 FORD dealer you have 649 F150 2015 Pickup Trucks sitting in Inventory.

 

There is a total of 56 dealers in Washington state. So if we go with a basic average on the low side of 75 trucks per dealer for the F150 2015 model, that is 4,200 F150 2015 trucks sitting on dealer lots in my state. I would say FORD had a MAJOR Failure for this truck when you have just 649 of these trucks sitting on 4 dealers lots.

 

To be Fair, I checked locally here and this is what I found which shows a big difference from FORD.

 

Jet Chevrolet - 28 - 2015 - 1500

Good Chevrolet - 74 - 2015 - 1500 - Thank you Surreal

Puyallup Chevrolet - 17 - 2015 - 1500

SunSet Chevrolet - Largest Chevy Dealer in State - 147 - 2015 - 1500

Chuck Olsen Chevrolet - 14 - 2015 - 1500

Lee Johnson Chevrolet - 31 - 2015 - 1500

Roy Robinson Chevrolet - 27 - 2015 - 1500

 

So the dealers around me have considerably less than the FORD dealers. SunSet and Good are the top two in our state and they still have far less. 

 

Something does not add up for FORD and their Trucks.

A handful of dealers in one state is a joke of a sample size(which I've mentioned before when stating my own local dealer). Plus dealers have an annoying habit of listing vehicles that they have ordered and may be in transit. That is why they don't have actual pictures for them, just the generic F150P(or whatever brand it may be).

  • Upvote 3

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Yes... They're over the moon with losing huge market share to a steel, V8-powered truck.

Sales are down. Profits in NA aren't going to reflect the increased incentives yet.

In other words... uh oh.

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Not to minimize your efforts at proving Ford is failing with trucks, but I stopped after checking the first claim you made of 2015 F150’s in stock at Sound Ford in Washington, and their new stock is only 25 units.

 

http://www.soundford.com/search/new/tp/?q=&md=100-f150&yr=2015

 

 

So forgive me if I tend to believe execs who are held accountable, over forum discussions and opinions.

Things can change and I am not perfect but in going back to their web site, your right that Sound Ford now shows a big drop, but in checking here is the current numbers for the other 3.

 

Bill Pierre Ford - 118 Way up from the 78 they reported yesterday.

http://www.pierreford.com/search/new/tp/s:mk1/?q=&md=100-f150&yr=2015

 

Kirkland Ford - 157 down from 187 yesterday.

http://www.fordofkirkland.com/new-inventory/index.htm?search=&saveFacetState=true&normalBodyStyle=&cab=&model=F-150&year=2015&internetPrice=&cityMpg=&engine=&normalTransmission=&normalDriveLine=&lastFacetInteracted=

 

Harris Ford - 118 - up from 116 yesterday.

http://www.harrisford.com/seattle-new-cars/vehicleSearch/1/10/~/EPAHighway_~Price1_~Year_2015~Make_Ford~Model_F-150

 

So clearly numbers do change on their web sites but most still show considerable more stock than Chevy.

 

So started to look farther around.

 

Korum Ford has 34 F150 2015

http://korumford.cms.dealer.com/new-inventory/index.htm?search=&saveFacetState=true&model=F-150&normalBodyStyle=

 

Evergreen Ford has 159 F150 2015

http://www.evergreenford.com/inventory_search.php?&make=Ford&NewUsed=N&year=2015&model=F-150

 

Vancouver Ford has 61 F150 2015

http://www.vancouverfordinc.com/new-inventory/?vehicle_type=truck&models=F-150&models=trim_F24-XL&models=trim_F24-STX&models=trim_F24-XLT&models=trim_F24-FX2&models=trim_F24-FX4&models=trim_F24-LARIAT&models=trim_F24-SVTRAPTOR&models=trim_F24-KINGRANCH&models=trim_F24-PLATINUM&models=trim_F24-LIMITED&year=2015&price_min=22000&price_max=85000&mpg_min=0&mpg_max=35&zipcode=98661&sort_by=price_desc&view=list

 

Brien Ford has 32 F150 2015 models.

http://www.brienford.com/everett-ford-f-150-cars

 

So I stick with my appraisal that their are far more FORD F150 trucks on the lots than Chevy and that FORD still does not add up with their accounting manipulation of the books.

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Dfelt,

I really can’t speak to dealer volumes in regions around the country.  Local to me, in Metro Detroit, many dealers carry well over 100, sometimes 200 units.  But they do that with several high volume sellers.  And finally, you are comparing only Chevy, which sells far less than Ford trucks.

 

Regarding Ford profits, I really expected them to come under expectations due to one heck of a costly year thus far, launching their bread and butter Focus, Edge, F150 (2nd plant in Kentucky), Explorer in addition to several other new launches.  Plus too, their low inventory was managed with fewer fleet sales through most of this year, which allowed them to keep incentives lower on average.

 

I see nothing but positive news here that far oversees the F150 sales declines, for whatever reason, which they claim will be sorted out by next month.  Believing them is a choice.  Free will and all.

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Reputations go a long way in establishing believability. Nobody is going to take a Ford PR release at face value.

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I call Bull$h! on this Report in regards to the Truck Info. This clearly smells of Accounting Manipulation.

 

Per the other thread where we have discussed this, these numbers DO NOT add up.

 

The 4 Ford local dealers in washington state by my house:

 

Sound Ford with 273 - 2015 F150 trucks

Bill Pierre Ford 78 - 2015 F150 trucks

Kirkland Ford 182 - 2015 F150 trucks

Harris Ford 116 - 2015 F150 trucks.

 

So in just these 4 FORD dealer you have 649 F150 2015 Pickup Trucks sitting in Inventory.

 

There is a total of 56 dealers in Washington state. So if we go with a basic average on the low side of 75 trucks per dealer for the F150 2015 model, that is 4,200 F150 2015 trucks sitting on dealer lots in my state. I would say FORD had a MAJOR Failure for this truck when you have just 649 of these trucks sitting on 4 dealers lots.

 

To be Fair, I checked locally here and this is what I found which shows a big difference from FORD.

 

Jet Chevrolet - 28 - 2015 - 1500

Good Chevrolet - 74 - 2015 - 1500 - Thank you Surreal

Puyallup Chevrolet - 17 - 2015 - 1500

SunSet Chevrolet - Largest Chevy Dealer in State - 147 - 2015 - 1500

Chuck Olsen Chevrolet - 14 - 2015 - 1500

Lee Johnson Chevrolet - 31 - 2015 - 1500

Roy Robinson Chevrolet - 27 - 2015 - 1500

 

So the dealers around me have considerably less than the FORD dealers. SunSet and Good are the top two in our state and they still have far less. 

 

Something does not add up for FORD and their Trucks.

Why bother dfelt? On the other thread, he asked for a sample of the competition after you threw out the Ford dealerships stock. Now, it doesn't matter to him and you only used Chevy, you know Ford's primary competition. See the pattern here yet?

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Reputations go a long way in establishing believability. Nobody is going to take a Ford PR release at face value.

PR?  Reputations?

 

WTF????

 

This was nothing more than a quarterly profit report, and they broke ALL previous records in NA, so it's good news.

 

I really don't get your jealousy bong.

You (and your gang) can down vote me until you are blue in the freaking face, but this needs to be said.  This was a good news thread, and you took yet another steaming pile of crap right smack in the middle of it.  Why????

 

Honestly, I don't know anyone who does what you do, regardless of their bias.  

Edited by Wings4Life

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There are four or five posters who commented in this thread. You singled me out. Fail.

You don't know anyone who does what I do? You take pics of post-it notes saying "suck it" on them. Big fail.

You accuse me of being jealous... of what? Delusional fail.

Now seriously. Grow up.

Edited by El Kabong

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There are four or five posters who commented in this thread. You singled me out. Fail.

You don't know anyone who does what I do? You take pics of post-it notes saying "suck it" on them. Big fail.

You accuse me of being jealous... of what? Delusional fail.

Now seriously. Grow up.

Yes, yes I did take a picture of a post-it saying "Suck it Bong" right next to my classic cuda badge....but only after I read comments by YOU suggesting I probably don't have that car.

 

Honestly, WTF does that have to do with the fact you said TWICE in this thread, that this is only a PR stunt by Ford.

 

Dude, you are freaking torqued. 

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And regarding the other off topic posts, yes, there are, guys who continued an argument from another thread.  I am fine with that. Done that myself many times. 

 

But YOU and your constant Ford bashing is just over the top and expected and THAT is why I singled you out btw.

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Same old wings. Never learns, never listens.

Always good for a laugh tho :D :D :D

Now: onward!

Edited by El Kabong

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It's sheer stupidity to look up dealer stock numbers and come to a forgone conclusion that dealers are sitting on inventory.

 

If you don't know the specific turn rate of the dealer; then one dealer maintaining a constant inventory while moving an incredible amount of units will appear like a total catastrophe.

 

I've done enough statistical analysis to say that the little inventory counts done by some members here are just grasping at straws. Nothing more. You will not prove anything by doing so, other than proving the very course of response bias, selection bias; as well as a myriad of wrong things.

 

At the end of the day, I think it's absolutely normal for a Ford dealer to stock a lot of trucks; because it's such a volume seller for Ford for their lineup. Other than the Expedition, there's nothing else that's a body on frame truck, compared to GM that has their K2XXs, Colorado, Chevy and GMC. 

 

And I've got a level head saying this, because I've said plenty of bad things about Ford, and I'm not supporting Ford here as much as just pointing out the wrong things some here are doing. 

 

Ford's kicking butt in profit like they've been doing so for quite a few years in a row. Good on them. It's operational efficiency that Ford is after.

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Suave: See my thoughts on that in the other thread. What I will say here is this: the units on dealer lots issue came about because of Ford's claims that it was a frame vendor's lack of production hampering sales. Seeing as how a steel ladder frame is the most conventional part of this truck to make the claim was met with skepticism.

Edited by El Kabong

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Suave: See my thoughts on that in the other thread. What I will say here is this: the units on dealer lots issue came about because of Ford's claims that it was a frame vendor's lack of production hampering sales. Seeing as how a steel ladder frame is the most conventional part of this truck to make the claim was met with skepticism.

 

Well again, it's from a subjective, not objective viewpoint that F150 units are stagnating on lots. What if normal inventory for those dealers mentioned here supposed to be above 200?

 

There's no objective measures here, and it's kinda pathetic really.

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Speaking for myself, I'm just looking for a reason why sales are off. The frame vendor thing is possible, but it's also a bit of a forehead-slapper if accurate.

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Off topic suave, but logical and clearly objective, and therefore welcome.

 

Back to topics, 

I think Ford offset their fewer sales profit for now, with much higher ATP's.

Ford claims they will be back to full production in this quarter.

Should be a healthy 2nd half.

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Speaking for myself, I'm just looking for a reason why sales are off. The frame vendor thing is possible, but it's also a bit of a forehead-slapper if accurate.

 

 

Off topic suave, but logical and clearly objective, and therefore welcome.

 

Back to topics, 

I think Ford offset their fewer sales profit for now, with much higher ATP's.

Ford claims they will be back to full production in this quarter.

Should be a healthy 2nd half.

 

 

And to that I will say at the heart of all the debate here we have to be able to set aside what we think and look at the bigger picture; and just be more rational. Don't jump the gun, no matter which brand you may favour. 

 

I think it's really telling when I'm the only person here able to stop a bandwagon - hell derail it with two posts and just a different way of thinking. 

 

Don't always default to the worst folks. 

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The medium is the message, as Marshal McLuhan famously put it. Even the soundest ideas can be made unpalatable by a poor presentation.

You are a solid communicator. And that makes all the difference.

Edited by El Kabong
  • Upvote 1

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Yes... They're over the moon with losing huge market share to a steel, V8-powered truck.

Sales are down. Profits in NA aren't going to reflect the increased incentives yet.

In other words... uh oh.

 

From cursory research, these market losses are primarily fleet and lower-end models - not that it's good but it's not terribly dire either. Plus, these earnings also take into account lacklustre China sales and losses in Europe, in addition to the F150's supply woes.

 

While you're likely right that the incentives may have an impact in the next quarter or two, I'd wager we'd see similar softening from GM and RAM, as they increase their own incentive programs to try and pinch sales from Ford's truck, which should have normalized inventory within that timeframe. 

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