great to see you on this Thursdaymorning I’m Jennifer Vaughn coming up alook at Ford’s future product but let’sbegin with your top news stories andwe’ll begin with Ford Moody’s InvestorsService has cut the automakers creditrating to one notch above junk the movecoming after Ford embarked on a costlyrestructuring that could take years tocompleteMoody’s saying in a report Wednesdaythat it had downgraded Ford to be doublea three from be double a two with anegative outlook Moody’s calls CEO Jimhack as financial fitness program anecessity but it says it will takeseveral years for its benefits to berealized the program could cost elevenbillion dollarsin the next three to five years asBloomberg notes a descent into junkwould be a blow to Ford after six yearsof investment great status the automakeravoided joining its US peers inbankruptcy during the financial crisisthanks in part to more than twenty threebillion dollars in loans taken out in2006 to NAFTA no president Donald Trumpsays American and Canadian officialsnegotiating a revamped North AmericanFree Trade Agreement were probably setto meet a Friday deadline there in theWhite House right now we’re negotiatingwith them right now and they want to bea part of the deal and we gave tillFriday and I think we’re probably ontrack we’ll see what happens but in theevent things are working out very wellearlier Canadian Prime Minister JustinTrudeau said such a deal was possible byTrump’s deadline we recognized thatthere is a possibility of getting thereby Friday but it is only a possibilitybecause it will hinge on whether or notthere is ultimately a good deal forCanada a good deal for Canadians I saidfrom the very beginningno NAFTA deal is better than a bad NAFTAdeal meantime Canadian foreign ministerChrystia Freeland said late on Wednesdaythat talks were at a very intense momentbut said there was a lot of goodwillbetween Canadian and US negotiatorsCanada rejoined the talks under pressurethis after Mexico and the United Statesannounced a bilateral deal on MondayEuropean lenders Santander reportedlyhas agreed to settle claims by the USBureau of Consumer Financial Protectionthat it misled car owners about the costof loans and coverage of relatedinsurance policies sources tell ReutersSantander has agreed to pay a fine andstrengthen consumer protections aSantander spokeswoman declined tocomment on any possible settlement butso the lender has improved its consumerprotection controls and Volkswagen haschanged the name of its truck and busunit to treyton group the groupcomprises several brands including ma Nand Scania let’s turn now to futureproduct at Fordthe automaker plans to discontinuetraditional sedans in North America it’stying its future to pickups and utilityvehicles instead its product schedulealso includes a slew of new hybrids andv’s here’s a peek at what’s in thepipeline hitting showrooms early nextyear is the revived Ranger midsizepickup a raptor performance variant isexpected in the coming yearsalso in 2019 the next-generationExplorer crossover will debut in thefirst half in the second half theredesign escaped debuts it’s thecompany’s best-selling nameplate afterthe f-seriesspeaking of the f-series Ford freshenthe f-150 pickup this year and added adiesel variant the next-gen model willappear in 2020 that year we’ll also seethe long anticipated revival of theBronco nameplate one of the cars Ford iskeeping the Mustang a hybrid version iscoming in 2020 and the next-gen Pony caris expected in 2021 for more on Ford’supcoming rides visit Auto news. com slashfuture product finally a first shiftfootnote that’s Toyota president AkioToyoda with a piece of artwork createdby a seven-year-old from Iraq thedrawing one of the award-winning entriesas part of the car makers global dreamcar art contest it illustrates aso-called farmer car that is designedfor people with disabilities the chiefexecutive choosing the piece for thepresident Akio Toyoda award and we thankyou for choosing to join us todayremember auto news now comes your waythis afternoon take care
source https://cardetailingphoenix.com/index.php/2018/09/20/ford-hovering-just-above-junk-status-automotive-news-tv-car-news-auto-news-first-shift/
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