Ford's CEO Says Stop Fixing Your Own Car. Here's What He's Really After.
Ford CEO Jim Farley says you shouldn't fix your own car. It's too complicated, he warns — and if you try, you might get hurt. But the same year Farley told America to keep its hands off its own engines, Ford quietly set the all-time U.S. vehicle recall record: 153 recalls covering nearly 13 million vehicles. Then it had to re-recall almost 400,000 of them — because the first repairs were done wrong. So is this really about your safety? Follow the money and a different story shows up. Ford booked a record $187 billion in revenue last year… and still lost more than $8 billion. Selling cars barely turns a profit. The real money is in fixing them — the service-and-parts counter that pulls in around $10 million a year at the average dealership. From "don't fix it yourself," to $1,000 car keys, to dealer-only warranty work, every road seems to lead back to the same place: the service bay. This is the story of how "your car is too complicated to fix" became one of the most profitable sentences in the auto business — and what it's quietly costing you. • Why Mechanics Are Done With Dealerships. F... - Another video I did on a similar topic: Why Mechanics Are Done With Dealerships. Ford's CEO Still Doesn't Get It ————————————— SOURCES & REFERENCES ————————————— Jim Farley's DIY-repair comments (via Louis Rossmann): • Ford CEO says you shouldn't repair your ca... Farley's right-to-repair pushback (The Sun): https://www.the-sun.com/motors/164809... Ford's record $187.3B revenue + $8.2B net loss (dBusiness): https://www.dbusiness.com/daily-news/... Ford re-recalls 389,000 vehicles over repairs "done incorrectly" (Road & Track): https://www.roadandtrack.com/news/a71... Ford Focus engine-stall recall (Fox Business): https://www.foxbusiness.com/markets/f... The "upside" of recalling 13 million vehicles (Military.com): https://www.military.com/off-duty/aut... Ford backup-camera software recall (WardsAuto): https://www.wardsauto.com/news/archiv... New car key + programming can cost nearly $1,000 (AutoZone): https://www.autozone.com/diy/electric... Why some Ford keys can't be programmed without a dealer (Francis' Car Keys): https://www.franciscarkeys.com/post/w... Farley: "treat our vehicles like digital devices… wrap more services around our business" — Office Hours: Business Edition, Ep. 3: • Episode 3 - Jim Farley - Ford Motor Company 1973 Ford Bronco footage (Rubber City Motoring): • 1973 Ford Bronco Features & Test Footage Service & parts ≈ half of dealership gross profit (NADA): https://www.nada.org/nada/research-da... Recall visits drive service revenue — ~9 in 10 complete, 40% approve extra work (CBT News / CDK study): https://www.cbtnews.com/recall-visits... ————————————— Are you still wrenching on your own stuff — or has it gotten too locked down to bother? Tell me in the comments. I read every one. Subscribe for more Hard Hat Economics — where we translate the big headlines into what they actually cost working people.
