At a Glance
Good pay & strong benefits
Employee discounts on Ford vehicles
Renewed public confidence in the company following years of financial disappointment
A lot of grumbling about management
UAW contract limits raises until 2015
Employees are happy to play a role in Ford's efforts to write one of the great turnaround stories in American business.
About Ford International Capital LLC
Ford Motor is striving to build smart vehicles for a smart world. One of the "Big Three" automakers in the US (with GM and Fiat Chrysler), the company manufactures cars, trucks, and SUVs under the Ford and Lincoln brands –- and finances sales through Ford Motor Credit. Ford, which does business worldwide, is making significant investments in a strategic shift to move it from solely an automaker to a leader in vehicle technology and mobility services. Nearly 65% of total sales comes from US.
Ford operates through Automotive, Ford Credit, and Mobility.
Ford's Automotive segment represents more than 90% of revenue and includes the sale of Ford and Lincoln brand vehicles. The Ford Credit segment contributes less than 10% of revenue and includes vehicle-related financing and leasing through Ford Motor Credit Company. Outside the US, Europe is Ford Credit's largest operation are the UK and Germany.
Ford's Mobility segment includes Ford Smart Mobility which designs and builds mobility services and makes investments in start-ups and technology companies. Mobility is also Ford's locus for the development of autonomous vehicle technologies
Ford's business units span the five regions of North America, South America, Europe, the Middle East and Africa, and Asia-Pacific.
The US accounts for nearly 65% of Ford's revenue. Other major markets include the UK, Canada, and Germany, each accounting for about 5% of sales.
Sales and Marketing
Ford's vehicles, parts, and accessories are sold through more than 11,500 dealerships worldwide, most independently-owned. In addition to retail sales, these dealerships sell vehicles to commercial fleet customers, rental car companies, and governments.
Ford's advertising expenses were $3.6 billion, $4.0 billion, and $4.1 billion for the years 2019, 2018, and 2017, respectively.
For full year 2019, revenue was down 3% to $155.9 billion. The decrease was primarily due to the fall on their automotive segments.
The company's net income fell by about 98% to $84 million in 2019. The fall was due to the loss from their operations from an income of $4.3 billion in 2018, to a loss of $640 million in 2019.
Cash held by the company by the end of 2019 increased by $2.6 billion to $18.6 billion, compared to $16.9 million in the prior year. Cash provided by operations and financing activities were $18.1 billion and $3.4 billion, respectively. Cash used for investing activities was $19.4 billion.
Speaking of Europe, 2019 also brought tighter focus for Ford's operations on the Continent. Ford aims to refresh the company's European lineup, streamline operations, and return the business to profitability. Moving forward, Ford's Europe division will be organized across three customer-focused areas: Commercial Vehicles, Passenger Vehicles, and Imports (US-made products like the Mustang). Ford will introduce at least three models over five years and offer more electrified products across its lineup. Ford also plans to beef up its already-strong presence in Europe's commercial vehicle market.
In late 2019 Ford and India-based Mahindra & Mahindra formed a joint venture that will build vehicles under the Ford brand for the Indian market, and Ford and Mahindra branded vehicles for other high-growth emerging markets. Mahindra will hold a 51% controlling stake in the new venture and Ford will hold 49%.
Henry Ford started the Ford Motor Company in 1903 in Dearborn, Michigan. In 1908 Ford introduced the Model T, produced on a moving assembly line that revolutionized both carmaking and manufacturing. By 1920 some 60% of all vehicles on the road were Fords.
After Ford omitted its usual dividend in 1916, stockholders sued. Ford responded by buying back all its outstanding shares in 1919 and didn't allow outside ownership again until 1956.
Despite the debut of the Mercury (1938), market share slipped behind General Motors and Chrysler. Henry Ford II decentralized Ford, following the GM model. Henry Ford died in 1947 at the age of 83. In 1950 the carmaker recaptured second place. Ford rolled out the infamous Edsel line in 1958 and launched the Mustang in 1964.
Ford acquired Hertz in 1994. To focus on its struggling automotive operations, Ford sold its Hertz car rental business in 2005.
With the automotive industry reeling from the Great Recession, companies made decisions to streamline their operations for survival. In mid-2010 Ford sold all of Volvo Car Corporation to Geely Automotive, a subsidiary of China-based Zhejiang Geely Holding Group. At the onset of 2011, Ford's Mercury model production was discontinued.
Ford's $65 million acquisition of app-based, crowd-sourced shuttle service Chariot (completed in 2017) is allowing it to use data algorithms to schedule trips in real time. Chariot uses 100 Ford Transit 15-seat vans; its 28 routes have been based on demand from riders. Ford is expanding the service from two cities (San Francisco and Austin) to eight, with at least one outside the US.
Amid shifting consumer tastes, in 2018 Ford announced it would phase out virtually all its car offerings in North America, except for the Mustang, to focus on more profitable trucks, SUVs, and crossovers.
1 American Rd
Dearborn, MI 48126-2701
Phone: 1 (313) 322-3000
Employer Type: Privately Owned
Employees (This Location): 8
Employees (All Locations): 23