Ford Wins Car and Truck Award at 2010 North American Auto Show
Ford swept the 2010 North American Car and Truck Awards at the Detroit auto show Monday, marking only the third time in the 17-year history of the award that a single automaker has claimed both titles.
A panel of about 50 U.S. and Canadian automotive journalists named the Ford Fusion Hybrid the car of the year and the Ford [F 11.8194 0.1294 (+1.11%) ] Transit Connect the truck of the year.
The Focus beat out the Buick LaCrosse and the Volkswagen Golf/GTI for the car title, while the Transit Connect beat out the Chevrolet Equinox and Subaru Outback for the truck title.
The automakers typically use the awards, presented at the start of the North American International Auto Show, to market their vehicles.
“A couple of years ago — a number of years ago — we said we wanted to get back into the car business and we wanted to do it with vehicles that had great quality, great fuel efficiency, technology and safety,” said Mark Fields, president of the Americas for Ford.
spent to prop up the industry.
And unlike General Motors and Chrysler its top leadership has been steady since 2006, when Ford brought in an outsider — former Boeing executive Alan Mulally — to take the reins.
“I think there’s been a big advantage in the steady management over the last three years,” said Justin Mirro, the managing director and head of the automotive investment banking group at Moelis & Co. “It’s kept the strategy very consistent … I think they have done a great job of taking advantage of the disarray of their domestic opponents.”
Ford stock has gained 55 percent since November and more than quadrupled over the past year as the No. 2 U.S. automaker steered clear of the government bailouts that wiped out equity in its domestic rivals and prompted a massive restructuring o the industry.