Ford will finally be pushing the Mustang fully into the modern world.  The next incarnation of the popular sport coupe is reportedly scheduled for the 2014 production year.  New details are emerging, indicating that Ford will install a fully independent suspension on the next model: a first for the Mustang.  Along with that are a rumored turbocharged inline-four motor, a new 6-spd. manual-shift, and the use of a global platform.

“It was all about the unions. The unions didn’t want to have their very generous contracts renegotiated so we put $80 billion into both General Motors and Chrysler, and anybody believes that Chrysler is going to survive, I’d like to meet them.”

So goes Senator John McCain.

The Arizona senator spoke to The Detroit News while attending a Phoenix racing event.  McCain’s grim prediction comes amid the continually declining state of the Chrysler brand and dismal words for CEO Sergio Marchionne’s business plan.

McCain went on: “We see the automotive industry, and my heart goes out to the citizens of Detroit, really in the tank, and yet we have manufacturing plants all over the South, which are not bound by some of the labor rules and contracts that make them non-competitive.”

Image courtesy of Caricature Shack.

General Motors reports it lost approximately $1,500,000,000 in the third fiscal quarter of 2009.

CEO Fritz Henderson remained positive with the announcement, saying “today’s results provide evidence of the solid foundation we’re building for the new GM.”  Total revenue was up from the preceding quarter and Henderson also announced the company was ready to begin paying back taxpayer loans.

The dour financial news was met by word GM’s remaining US properties would be having a cross-brand sales event during the week.  How shoppers will respond to the bleak forecast remains to be seen.

Automobile magazine has proclaimed Ford’s head-honcho as its 2010 “Man of the Year.”  In a piece written by Joe DeMatio, it was noted:

Mulally is living proof that a single, extraordinary leader with vision and determination really can make all the difference in an organization. In 2006, when Bill Ford, Jr., went shopping for someone to take over the role of Ford CEO, he was looking for not just a talented executive but for someone who had demonstrated the ability to reinvent and reimagine an entire corporate culture. Candidates were thin on the ground, but Mr. Ford found his man, the father of the Boeing 777 airliner, in the number-two chair at the aircraft manufacturer. Industry observers were shocked: never had someone with absolutely no car experience been appointed to such a high position.

But the gamble worked.  Mulally trimmed Ford’s overstretched empire by selling off the Land Rover, Jaguar, and Aston-Martin properties.  (Volvo is said to be set for a sale next year.)  This allowed the company to concentrate its manpower and materials on restoring the Ford and Lincoln brands.  Under his tenure, Ford has reduced its losses, excelled in industry safety, and been honored for its product reliability.

The vehicles themselves have made the jump nicely.  The Taurus is once again a respected sedan, the Fusion has shaken up the mid-size segment, and the EcoBoost engine has blended V-8 power with I-4 fuel economy.  The popular Euro Fiesta and Focus are also making their way to North American shores, likely to take back the compact category from Honda and Toyota.

Mulally’s refusal to take a federal bailout was seen as arrogant.  But he’s been able to live up to his modest defiance by gradually transforming Ford into a proud and effective American corporation.  Chrysler, anyone?

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After months of wrangling, a deal has been reached for Fiat to acquire Chrysler.  A brief delay from Justice Ruth Ginsberg of the Supreme Court was overcome, with Chrysler proceeding to exit bankruptcy as soon as next week.

Fiat CEO Sergio Marchionne is already beginning his own restructure of the Chrysler Group.  The Chrysler, Jeep, and Dodge divisions will now operate separately and have a president/CEO to assume responsibility.  Chrysler’s Jim Press will now report directly to Marchionne on all corporate matters.  Sales guru Steve Landry and head engineer Frank Klegon have been fired.

The key names emerging from this change are Peter L. Fong, Michael Manley, and Mike Accavitti.  Fong will oversee the Chrysler division; he previously handled Ford operations in Philadelphia before leaving to handle Chrysler Mid-Atlantic sales.  Manley, now president for Jeep, manages US sales and global product planning.  Mike Accavitti will be chief exec for Dodge after a history with its motorsports branch.

In the meantime, Marchionne is deciding whether or not to cut the Lancia and Chrysler nameplates.  It’s likely Lancia will be retired, but Chrysler’s still-sizeable minivan share, coming 300 update, and well-received 200C concept (pictured above) are giving the brand a better shot at survival.

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