Yesterday Ford Motor Company (NYSE:F
, F message board
) demonstrated their prototype of a car bonnet made of carbon-fiber reinforced polymer, intended to lower fuel consumption.
The prototype was revealed at an expo in Germany and is said to weigh less than half a regular steel bonnet. Researchers from Ford's European research labs have shortened the time and process to manufacture the durable compound to the point where it can be used on a production line. Ford's Euro experts stated that while the fuel-economy benefits of lightweight carbon parts are well-known to everyone, a mass production process that is cost and time efficient was not previously available.
In addition to its strength and great tensile properties, carbon-fiber plastic can potentially allow Ford to reduce the weight of its cars by a total of over 300 kilos by the end of the decade, as more carbon parts are introduced. The research is still ongoing as of today and the carbon bonnet project is expected to reach completion in September 2013.
September sales for Ford and its joint ventures in China are up about 35% compared to September 2011 and total over 59,000 units. The company is planning to snatch more ground in China by introducing 15 new vehicles in the country and double its local production capacity to 1.2 million vehicles by the year 2015. Ford still have some way to go before they claim as big a market share as competitors General Motors (NYSE:GM) and Volkswagen.
Ford was also the only big U.S. automaker that did not receive government support. Despite that fact, Steven Rattner, lead auto adviser of President Obama, said that Ford would have also failed if competitors General Motors and Chrysler hadn't been bailed out. Ford CEO Alan Mulally voiced his agreement to that statement and reiterated his belief that he did the right thing in supporting the government bailout in Senate.
Ford's stock climbed 0.5% in yesterday's trading and weighed in at $10.10 at the closing bell.
IMPORTANT FORD UPDATE: October 10th 2012 - F is making a chart pattern that has been seen 3,826 times since the year 2000. 55.51% of the stocks that have made this pattern went up over 8% on average in a 20 day period. Watch the video to learn more about the probabilities of F stock moving up or down.
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