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Encyclopedia > The Way Forward

Ford Motor Company's restructuring plan, made public in 2006, is known as The Way Forward. Ford Motor Company (also called simply Ford NYSE: F), is an American company that manufactures and sells automobiles worldwide. ...


Ford is attempting to reduce fixed capital costs while maintaining a special focus on cars and car-based crossover vehicles. Over time, it hopes to make more of its product line profitable instead of relying on a limited portion of the products for profit. Making good profits across the product line requires that the company reduce the costs of development and production, while introducing new products that connect with consumers.


In the latter half of 2005, Chairman Bill Ford asked newly-appointed Ford Americas Division President Mark Fields to develop a plan to return the company to profitability. Fields previewed the Plan, dubbed "The Way Forward", at the December 7, 2005 board meeting of the company; and it was unveiled to the public on January 23, 2006. "The Way Forward" includes resizing the company to match current market realities, dropping some unprofitable and inefficient models, consolidating production lines, and shutting down seven vehicle assembly plants and seven parts factories. Among these are plants in St. Louis Assembly (near St. Louis), Atlanta Assembly (near Atlanta), Batavia Transmission (Batavia, Ohio), Windsor Casting (Windsor, Ontario, Canada), and Wixom Assembly (Wixom, Michigan). Up to 30,000 hourly and salaried jobs (28% of the total workforce) in North America over the next six years are expected to be eliminated, which is comparable to similar cutbacks previously announced at General Motors. These cutbacks are consistent with Ford's roughly 25% decline in U.S. automotive market share since the mid-late 1990s. William Clay (Bill) Ford Jr. ... Mark Fields is an executive of the Ford Motor Company. ... December 7 is the 341st day (342nd in leap years) of the year in the Gregorian calendar. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... January 23 is the 23rd day of the year in the Gregorian calendar. ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ... St. ... Nickname: Gateway City, Gateway to the West, or Mound City Location in the state of Missouri Coordinates: Country State County United States Missouri Independent City Mayor Francis G. Slay (D) Area    - City 66. ... Atlanta Assembly is an automobile factory owned by Ford Motor Company in Hapeville, Georgia. ... This article is about the state capital of Georgia. ... Batavia Transmission is an automobile factory owned by Ford Motor Company in Batavia, Ohio. ... Batavia is a village located in Clermont County, Ohio. ... Official language(s) None Capital Columbus Largest city Columbus Largest metro area Cleveland Area  Ranked 34th  - Total 44,825 sq mi (116,096 km²)  - Width 220 miles (355 km)  - Length 220 miles (355 km)  - % water 8. ... Windsor Casting is an automobile factory owned by Ford Motor Company in Windsor, Ontario, Canada. ... Flag Seal Motto: Location Coordinates , Government Country Province County Canada Ontario Essex* Founded 1854 (as village) 1892 (as city) City Mayor Governing Body Members of Parliament: Provincial Representatives: Eddie Francis Windsor City Council Joe Comartin (NDP) Brian Masse (NDP) Dwight Duncan (LIB) Sandra Pupatello (LIB) Geographical characteristics Area     City 120. ... Motto: Ut Incepit Fidelis Sic Permanet (Latin: Loyal she began, loyal she remains) Official languages English (French has some legal status but is not fully co-official) Flower White trillium Capital Toronto Largest city Toronto Lieutenant-Governor James K. Bartleman Premier Dalton McGuinty (Liberal) Parliamentary representation  - House seat  - Senate seats... The Wixom, Michigan auto plant is one of Fords largest and oldest manufacturing sites. ... Wixom is a city in Oakland County in the U.S. state of Michigan. ... Official language(s) None (English, de-facto) Capital Lansing Largest city Detroit Area  Ranked 11th  - Total 97,990 sq mi (253,793 km²)  - Width 239 miles (385 km)  - Length 491 miles (790 km)  - % water 41. ... General Motors Corporation, also known as GM, is the worlds largest automaker and has been the global industry sales leader for 75 years. ... Motto: (traditional) In God We Trust (official, 1956–present) Anthem: The Star-Spangled Banner Capital Washington, D.C. Largest city New York City Official language(s) None at the federal level; English de facto Government Federal Republic  - President George W. Bush (R)  - Vice President Dick Cheney (R) Independence - Declared - Recognized...


Ford's realignment also included the sale of its wholly-owned subsidiary, Hertz Rent-a-Car to a private equity group for $15 billion in cash and debt acquisition. The sale was completed on December 22, 2005. A joint venture with Mahindra and Mahindra Limited of India ended with the sale of Ford's 15 percent stake in 2005. In business, a subsidiary is a company controlled by another company or corporation. ... The Hertz Corporation (also known as Hertz Rent A Car or simply Hertz) is the worlds largest car rental company, with 1,900 locations in the United States and 5,100 worldwide. ... Private equity is a broad term that refers to any type of equity investment in an asset in which the equity is not freely tradable on a public stock market. ... A joint venture (often abbreviated JV) is a strategic alliance between two or more parties to undertake economic activity together. ... Mahindra corporate logo Mahindra & Mahindra Ltd (The Mahindra Group) is an Indian 2. ...

Contents


Plant closings

Ford reportedly plans to close 14 manufacturing plants by 2012 including 7 that assemble cars. Short-term results (by 2008) will reduce Ford's assembly capacity by 26%.


The first closures were announced on January 23, 2006[1]. Ford announced on April 13, 2006 that two more plants would close as well[2]. January 23 is the 23rd day of the year in the Gregorian calendar. ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ... April 13 is the 103rd day of the year in the Gregorian calendar (104th in leap years). ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ...

Date announced Plant name Location Date of closing Products Employees
January 23, 2006 St. Louis Assembly Hazelwood, Missouri 2006 Ford Explorer
Lincoln Aviator
Mercury Mountaineer
1,445
Atlanta Assembly Hapeville, Georgia 2006 Ford Taurus
Mercury Sable
2,028
Batavia Transmission Batavia, Ohio 2008 transmissions 1,745
Windsor Casting Windsor, Ontario, Canada 2008 Engine blocks, parts 684
Wixom Assembly Wixom, Michigan June 2007 Lincoln Town Car
Lincoln LS
Ford GT
1,567
April 13, 2006 Twin Cities Assembly St. Paul, Minnesota, USA 2008 Ford Ranger
Mazda B-Series
1,885
Norfolk Assembly Norfolk, Virginia, USA 2008 Ford F-Series 2,433
Total 11,787

January 23 is the 23rd day of the year in the Gregorian calendar. ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ... St. ... Hazelwood is a city located in St. ... Official language(s) None Capital Jefferson City Largest city Kansas City Largest metro area St. ... The Ford Explorer is a mid-size sport utility vehicle sold mostly in North America built by the Ford Motor Company since 1990 and still in production as of 2006. ... The Aviator is a mid-size luxury SUV from Lincoln. ... The Mercury Mountaineer is a luxury SUV manufauctured by the Mercury brand name, owned by the Ford Motor Company. ... Atlanta Assembly is an automobile factory owned by Ford Motor Company in Hapeville, Georgia. ... Hapeville is a city located in Fulton County, Georgia. ... The Ford Taurus (from Latin bull) is a mid-size car sold by the Ford Motor Company in North America. ... Released in December 1985 for the 1986 model year, the Mercury Sable was the upscale version of the Ford Taurus. ... Batavia Transmission is an automobile factory owned by Ford Motor Company in Batavia, Ohio. ... Batavia is a village located in Clermont County, Ohio. ... Official language(s) None Capital Columbus Largest city Columbus Largest metro area Cleveland Area  Ranked 34th  - Total 44,825 sq mi (116,096 km²)  - Width 220 miles (355 km)  - Length 220 miles (355 km)  - % water 8. ... Ford Motor Company transmissions: Ford C4 transmission Most small-block V8 powered cars of the 1960s and 1970s in the North American market. ... Windsor Casting is an automobile factory owned by Ford Motor Company in Windsor, Ontario, Canada. ... Flag Seal Motto: Location Coordinates , Government Country Province County Canada Ontario Essex* Founded 1854 (as village) 1892 (as city) City Mayor Governing Body Members of Parliament: Provincial Representatives: Eddie Francis Windsor City Council Joe Comartin (NDP) Brian Masse (NDP) Dwight Duncan (LIB) Sandra Pupatello (LIB) Geographical characteristics Area     City 120. ... Motto: Ut Incepit Fidelis Sic Permanet (Latin: Loyal she began, loyal she remains) Official languages English (French has some legal status but is not fully co-official) Flower White trillium Capital Toronto Largest city Toronto Lieutenant-Governor James K. Bartleman Premier Dalton McGuinty (Liberal) Parliamentary representation  - House seat  - Senate seats... The Wixom, Michigan auto plant is one of Fords largest and oldest manufacturing sites. ... Wixom is a city in Oakland County in the U.S. state of Michigan. ... Official language(s) None (English, de-facto) Capital Lansing Largest city Detroit Area  Ranked 11th  - Total 97,990 sq mi (253,793 km²)  - Width 239 miles (385 km)  - Length 491 miles (790 km)  - % water 41. ... The Lincoln Town Car is a fullsize luxury sedan and serves as the flagship of Fords luxury Lincoln division. ... The LS (also called LS6 and LS8 depending on engine choice) is a midsize, rear wheel drive entry-level luxury car from Lincoln. ... The Ford GT began as a concept car designed in anticipation of Fords centennial year and as part of its drive to showcase and revive its heritage names such as Mustang and Thunderbird. ... April 13 is the 103rd day of the year in the Gregorian calendar (104th in leap years). ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ... A dam below the Twin Cities Assembly Plant supplies it with electrical power Ford Motor Companys Twin Cities Assembly Plant is located next to the Mississippi River in the Highland Park neighborhood of St. ... State capitol building in Saint Paul Saint Paul is the capital and second-largest city of the state of Minnesota in the United States of America. ... Official language(s) English Capital Saint Paul Largest city Minneapolis Area  Ranked 12th  - Total 87,014 sq mi (225,365 km²)  - Width 250 miles (400 km)  - Length 400 miles (645 km)  - % water 8. ... The Ford Ranger name is used on two distinct and unrelated pick-up truck lines by the Ford Motor Company: The North American Ford-designed compact pickup truck (documented here) The Mazda-designed compact pickup (documented at Mazda B-Series (International)) sold in more than 130 countries North American Ranger... 1986 Mazda B2000 extended cab Mazda has sold two entirely different compact pickup trucks under the B-Series name. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... Official language(s) English Capital Richmond Largest city Virginia Beach Area  Ranked 35th  - Total 42,793 sq mi (110,862 km²)  - Width 200 miles (320 km)  - Length 430 miles (690 km)  - % water 7. ... The F-Series is a series of full-size pickup trucks from Ford Motor Company sold for over 5 decades. ...

Product eliminations

The following products are currently assembled at the Wixom (Michigan) Assembly plant, which is closing. They will be replaced by future vehicles. In June 2006, Ford announced that it will not move production to St. Thomas, Ontario, Canada (where its body-on-frame platform-mates Ford Crown Victoria and Mercury Grand Marquis are produced), likely meaning that Town Car production will end permanently. Template:Hide = Motto: Template:Unhide = Location City Information Established: {{{Established}}} Area: 32. ... Body-on-frame is an automobile construction technology. ...

Date announced Product End of production Replacement
January 23, 2006 Ford GT September 2006 Shelby Cobra GT500
Lincoln LS April 2006 Lincoln MKZ

January 23 is the 23rd day of the year in the Gregorian calendar. ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ... The Ford GT began as a concept car designed in anticipation of Fords centennial year and as part of its drive to showcase and revive its heritage names such as Mustang and Thunderbird. ... 1965 Shelby GT-350R Racing Version Shelby GT350 at the Scarsdale Concours The Shelby Mustang was a tuner sports car from the 1960s. ... The LS (also called LS6 and LS8 depending on engine choice) is a midsize, rear wheel drive entry-level luxury car from Lincoln. ... Originally called the Zephyr for the 2006 model year, the Lincoln MKZ is a midsize car from the Lincoln automobile division of the Ford Motor Company. ...

Staff reductions

Up to 30,000 factory jobs would be eliminated with the downsizing envisioned in The Way Forward. The company is also eliminating 4,000 salaried, contract, and agency jobs during the first quarter of 2006, and the company is eliminating 6 or 7 corporate officer positions out of 53 immediately.


Ford is reportedly offering severance packages of up to $100,000 for workers who are willing to give up all future benefits except their pension. The company will also pay up to $15,000 in tuition for workers returning to school. Workers over 55 can reportedly get a $35,000 bonus to retire early, provided they have 30 years of service with the company, and those with 28 years can get leave and 85% pay for two years[3]. A severance package is pay and benefits an employee receives when they leave employment at a company. ... The examples and perspective in this article or section may not represent a worldwide view. ... Tuition means instruction, teaching or a fee charged for educational instruction especially at a formal institution of learning. ...


New products

Ford will also reportedly invest in new products and productions sites to better compete in the marketplace. The company plans to build a new low-cost manufacturing site in North America, possibly in Mexico. World map showing North America A satellite composite image of North America. ...


Product plans reportedly call for more crossover SUVs, compact cars, and hybrid vehicles. The company announced the Ford Five Hundred/Mercury Montego and Ford Edge/Lincoln MKX hybrids as part of the plan. The Honda CR-V is a crossover SUV based on the Honda Civic platform. ... The Rambler American introduced in the late 1950s was an early compact car. ... A hybrid vehicle is a vehicle using an on-board rechargeable energy storage system (RESS) and a fueled propulsion power source for vehicle propulsion. ... The Ford Five Hundred (code name D258) is a full-size sedan produced by the Ford Motor Company, succeeding the Ford Taurus program (which will be phased out for 2007). ... There is also a British car called the Austin Montego. ... The Ford Edge is a crossover SUV based on the Ford CD3 platform also used by the Ford Fusion, and the Lincoln MKX. This platform is based on Mazdas Mazda6 design. ... The Lincoln MKX is a Lincoln crossover SUV which was supposed to be named Lincoln Aviator, when the XUV replaces Explorer-based SUV in Lincolns lineup. ...


Ford also intends to revive the Lincoln and Mercury brands. Although Lincoln will become the larger seller of the two, Mercury is intended to become an upscale alternative, marketed especially toward women. Lincoln is an American luxury automobile brand, operated under the Ford Motor Company. ... -1...


References

Wards AutoWorld is an automobile trade magazine. ... February 6 is the 37th day of the year in the Gregorian Calendar. ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ... February 6 is the 37th day of the year in the Gregorian Calendar. ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ...

Notes

  1. ^ Ford Fights Back. Ford press release. Retrieved on April 14, 2006.
  2. ^ Ford's Twin Cities and Norfolk Assembly Plants Will Be Idled As Way Forward Plan Moves Ahead. Ford press release. Retrieved on April 14, 2006.
  3. ^ Ford offers $100,000 buyouts. Detroit News. Retrieved on February 7, 2006.

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