Economic Contribution

Ford beats Wall Street expectation on cost reductions

Ford beat Wall Street expectations Thursday, driven in large part by cost reductions and strong sales in North America.

The company said it has been cost cutting across several departments. Costs were also comparably lower this quarter because Ford suffered a massive recall of its vehicles this time last year. Last year Ford had to recall almost 2.4 million vehicles spanning several models, such as the Mustang, Focus, and Lincoln MKC.

Fiat Chrysler to invest $1B in Toledo, Illinois plants, add 1,000 jobs

Fiat Chrysler Automobiles said today it plans to spend $1 billion to retool its plants in Toledo, Ohio, and Belvidere, Ill., and create 1,000 new jobs as it shuffles its North American production footprint.

FCA said it will invest $700 million at its Toledo Assembly North Plant to prepare for the next-generation Jeep Wrangler and expand the production capacity of the SUV. The automaker said it plans to add about 700 jobs at that plant.

Ford plans additions, upgrades at Truck Plant

Ford Motor Co. has filed plans with metro regulators outlining its next series of improvements in its continuing effort to upgrade its Kentucky Truck Plant at Chamberlain Lane and Westport Road.

Ford Motor Land Development Corp. of Dearborn, Mich., a Ford Motor affiliate that undertakes corporate development projects, filed the improvement plans last week with the Metro Department of Planning & Design Services.