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Ford aims to be the Tesla of connected commercial vehicles

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Ford Motor Co Chief Executive Jim Farley won applause from Wall Street by increasing the production target for the automaker’s electric F-150 to 150,000 a year, more than three times the original number.

Now, Farley wants investors and commercial vehicle customers to pay more attention to the software and services Ford wants to sell with those trucks, as well as to the company’s electric Transit vans and its portfolio of combustion engine commercial vehicles.

At an event in Sonoma, California, this week, Farley and other Ford executives are rolling out more details of their Ford Pro commercial vehicle strategy – and setting ambitious goals.

“This is a first move by Ford to really start to scale and commit serious resources to digital software and services-based revenue,” Farley told Reuters.

Ford Pro is a standalone unit created last May https://www.reuters.com/business/sustainable-business/ford-boosts-ev-spending-aims-have-40-volume-all-electric-by-2030-2021-05-26 to focus exclusively on commercial and government customers.

Ford has set a goal to increase Ford Pro’s annual revenue to $45 billion by 2025, up 67% from 2019. Farley said Ford Pro is paving the way for Ford to expand digital service offerings to retail customers.

The U.S. and European commercial vehicle markets are fragmented, Farley said. Ford can use its position as the leading commercial vehicle brand in the United States and Europe to be a leader in pulling the pieces together as commercial fleets go electric.

“We are the Tesla of this industry,” he said.

Ford Pro, which will house the Dearborn, Michigan, automaker’s commercial vehicle operations, is now ramping up a commercial electric vehicle charging business using software and workers who came on board when Ford bought charging startup Electriphi https://www.reuters.com/business/autos-transportation/ford-buy-ev-charging-management-platform-electriphi-2021-06-17 in June 2021.

Ford Pro also has a partnership with Silicon Valley enterprise software power Salesforce.com Inc to develop software to digitize billing and other paperwork for contractors and other businesses that deploy people to jobs where the vehicle also serves as office space.

Ford Pro Chief Executive Ted Cannis said in an interview the unit has 125,000 active accounts, and a 40% share of the U.S. commercial van and pickup markets. Startups such as Rivian Automotive Inc and established rivals such as General Motors Co and its new BrightDrop van unit https://www.reuters.com/business/autos-transportation/gms-commercial-ev-unit-expand-vehicle-lineup-add-verizon-customer-2021-09-28 are aiming for big customers such as FedEx Corp or Amazon.com Inc as golden tickets to vehicle-based service businesses.

With Ford’s stable of small and medium-sized business customers, “I’ve got 125,000 golden tickets,” Cannis said.

TREPIDATION OVER EVs

Ford has tried before to expand higher-margin service businesses to augment its traditional manufacturing business, which do well to crack 10% pretax margins in good years. In the early 2000s, Ford acquired a repair services chain and auto salvage yards in an attempt to capture revenue from a larger chunk of the life cycle of a vehicle. Those diversifications were abandoned.

Ford’s new service strategy will have to overcome efforts by rivals that are also racing to sell electric vans and trucks to commercial vehicle fleets. Individual pieces of Ford Pro’s service business, such as fleet charging, will face competition from companies such as ChargePoint that already offer such services.

Rhett Ricart, whose Ohio-based Ricart Automotive Group is a major Ford commercial vehicle dealer, said Ford executives have “done their homework” on Ford Pro. Now, he said, the automaker must deliver electric vehicles that do not leave business customers stranded.

“Those vehicles have got to be flawless. People will have trepidation. They know what they’ve got with internal combustion engines. They know where to get gasoline,” Ricart said.

Farley and Ford executives said connected vehicle technology – including telematics systems that give Ford a pipeline to receive data from its vehicles – give the company a firmer foundation for recurring revenue, subscription services as well as increased repair business driven by software that tells fleet owners when it is time for vehicle maintenance.

Ford can analyze how many miles vehicles in a fleet drive, and where they are parked, to design hardware and software that allow for recharging at a central depot, or at a worker’s home, or both, said Muffi Ghadiali, former CEO of Electriphi and now head of the Ford Pro electric vehicle charging business.

“Because of telematics we can give them a very precise plan based on how the fleets operate,” he said.

 

(Reporting by Joe White in Detroit; Editing by Matthew Lewis)

Business

Stop Asking Your Interviewer Cliché Questions

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Most job search advice is cookie-cutter. The advice you’re following is almost certainly the same advice other job seekers follow, making you just another candidate following the same script.

In today’s hyper-competitive job market, standing out is critical, a challenge most job seekers struggle with. Instead of relying on generic questions recommended by self-proclaimed career coaches, which often lead to a forgettable interview, ask unique, thought-provoking questions that’ll spark engaging conversations and leave a lasting impression.

English philosopher Francis Bacon once said, “A prudent question is one half of wisdom.”

The questions you ask convey the following:

  • Your level of interest in the company and the role.
  • Contributing to your employer’s success is essential.
  • You desire a cultural fit.

Here are the top four questions experts recommend candidates ask; hence, they’ve become cliché questions you should avoid asking:

  • “What are the key responsibilities of this position?”

Most likely, the job description answers this question. Therefore, asking this question indicates you didn’t read the job description. If you require clarification, ask, “How many outbound calls will I be required to make daily?” “What will be my monthly revenue target?”

  • “What does a typical day look like?”

Although it’s important to understand day-to-day expectations, this question tends to elicit vague responses and rarely leads to a deeper conversation. Don’t focus on what your day will look like; instead, focus on being clear on the results you need to deliver. Nobody I know has ever been fired for not following a “typical day.” However, I know several people who were fired for failing to meet expectations. Before accepting a job offer, ensure you’re capable of meeting the employer’s expectations.

  • “How would you describe the company culture?”

Asking this question screams, “I read somewhere to ask this question.” There are much better ways to research a company’s culture, such as speaking to current and former employees, reading online reviews and news articles. Furthermore, since your interviewer works for the company, they’re presumably comfortable with the culture. Do you expect your interviewer to give you the brutal truth? “Be careful of Craig; get on his bad side, and he’ll make your life miserable.” “Bob is close to retirement. I give him lots of slack, which the rest of the team needs to pick up.”

Truism: No matter how much due diligence you do, only when you start working for the employer will you experience and, therefore, know their culture firsthand.

  • “What opportunities are there for professional development?”

When asked this question, I immediately think the candidate cares more about gaining than contributing, a showstopper. Managing your career is your responsibility, not your employer’s.

Cliché questions don’t impress hiring managers, nor will they differentiate you from your competition. To transform your interaction with your interviewer from a Q&A session into a dynamic discussion, ask unique, insightful questions.

Here are my four go-to questions—I have many moreto accomplish this:

  • “Describe your management style. How will you manage me?”

This question gives your interviewer the opportunity to talk about themselves, which we all love doing. As well, being in sync with my boss is extremely important to me. The management style of who’ll be my boss is a determining factor in whether or not I’ll accept the job.

  • “What is the one thing I should never do that’ll piss you off and possibly damage our working relationship beyond repair?”

This question also allows me to determine whether I and my to-be boss would be in sync. Sometimes I ask, “What are your pet peeves?”

  • “When I join the team, what would be the most important contribution you’d want to see from me in the first six months?”

Setting myself up for failure is the last thing I want. As I mentioned, focus on the results you need to produce and timelines. How realistic are the expectations? It’s never about the question; it’s about what you want to know. It’s important to know whether you’ll be able to meet or even exceed your new boss’s expectations.

  • “If I wanted to sell you on an idea or suggestion, what do you need to know?”

Years ago, a candidate asked me this question. I was impressed he wasn’t looking just to put in time; he was looking for how he could be a contributing employee. Every time I ask this question, it leads to an in-depth discussion.

Other questions I’ve asked:

 

  • “What keeps you up at night?”
  • “If you were to leave this company, who would follow?”
  • “How do you handle an employee making a mistake?”
  • “If you were to give a Ted Talk, what topic would you talk about?”
  • “What are three highly valued skills at [company] that I should master to advance?”
  • “What are the informal expectations of the role?”
  • “What is one misconception people have about you [or the company]?”

 

Your questions reveal a great deal about your motivations, drive to make a meaningful impact on the business, and a chance to morph the questioning into a conversation. Cliché questions don’t lead to meaningful discussions, whereas unique, thought-provoking questions do and, in turn, make you memorable.

_____________________________________________________________________

 

Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers “unsweetened” job search advice. You can send Nick your questions to artoffindingwork@gmail.com.

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Business

Canadian Natural Resources reports $2.27-billion third-quarter profit

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CALGARY – Canadian Natural Resources Ltd. reported a third-quarter profit of $2.27 billion, down from $2.34 billion in the same quarter last year.

The company says the profit amounted to $1.06 per diluted share for the quarter that ended Sept. 30 compared with $1.06 per diluted share a year earlier.

Product sales totalled $10.40 billion, down from $11.76 billion in the same quarter last year.

Daily production for the quarter averaged 1,363,086 barrels of oil equivalent per day, down from 1,393,614 a year ago.

On an adjusted basis, Canadian Natural says it earned 97 cents per diluted share for the quarter, down from an adjusted profit of $1.30 per diluted share in the same quarter last year.

The average analyst estimate had been for a profit of 90 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Oct. 31, 2024.

Companies in this story: (TSX:CNQ)

The Canadian Press. All rights reserved.

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Cenovus Energy reports $820M Q3 profit, down from $1.86B a year ago

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CALGARY – Cenovus Energy Inc. reported its third-quarter profit fell compared with a year as its revenue edged lower.

The company says it earned $820 million or 42 cents per diluted share for the quarter ended Sept. 30, down from $1.86 billion or 97 cents per diluted share a year earlier.

Revenue for the quarter totalled $14.25 billion, down from $14.58 billion in the same quarter last year.

Total upstream production in the quarter amounted to 771,300 barrels of oil equivalent per day, down from 797,000 a year earlier.

Total downstream throughput was 642,900 barrels per day compared with 664,300 in the same quarter last year.

On an adjusted basis, Cenovus says its funds flow amounted to $1.05 per diluted share in its latest quarter, down from adjusted funds flow of $1.81 per diluted share a year earlier.

This report by The Canadian Press was first published Oct. 31, 2024.

Companies in this story: (TSX:CVE)

The Canadian Press. All rights reserved.

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