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Friday, August 15, 2008
Ford to Manufacture New Luxury Crossover Vehicle
FOXBusiness
Although smaller hybrids and more energy efficient cars are all the rage these days, Ford is coming out with a seven-passenger luxury crossover vehicle, according to the Wall Street Journal.
Ford may announce the plans for the new vehicle, the Lincoln MKT crossover, as early as today, the Journal said, citing people familiar with the automaker’s plans.
The new car is expected to begin production next year, and feature much the same look as the Ford Flex, but with a sleeker less boxy body design. The car will feature three rows of seats to accommodate passengers.
And, although the car is on the larger side, it will feature a V-6 engine rather than a V-8. Ford expects to sell around 20,000 MKTs annually.
Competitors for the MKT will include the Acura MDX, the Audi Q7 and the Mercedes R class.
The car will probably be made at the Ford plant in Oakville, Ontario.
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If you've seen TV footage of an active trading pit, you've probably noticed the atmosphere is uproarious and wild. The reason for all the shouting? Open outcry.
On exchange floors that use the open-outcry system, traders shout prices they want to sell while others yell back the price they want to buy at. They also use hand gestures to communicate with each other.
This system has been used for a long time, but is being replaced with modern technology. Some argue electronic exchanges can do the job faster and more accurately. One of the few exchanges that continue to use open outcry is the New York Mercantile Exchange.
