FPV brand 'protected'

Ford Australia president Bob Graziano and FPV CEO Bryan Mears today jointly announced Prodrive will offload the company’s share of FPV back to Ford.

A memorandum of understanding has been signed by Ford and Prodrive, with due diligence set to commence shortly. The two companies plan for the change in ownership to be finalised before the end of the year, resulting in 32 jobs lost from FPV’s facilities, once all FPV engineering and marketing functions are brought in-house at Broadmeadows and Geelong. That, in turn, will reduce the number of staff redundancies from the 440 announced last month by Mr Graziano to a lower number, as yet unspecified.

"What we've done is take a look at the business in total and, projecting where that business was going in the future... we came to the conclusion that the present business situation really wasn't sustainable, longer term," said the Ford president. "As a result of that analysis Prodrive has elected to exit the performance car market. We in turn, Ford, will assume responsibility for the manufacture and production of these vehicles. In moving them into Geelong and Broadmeadows will bring along the efficiencies that we have within those two operations."

Mr Mears, acknowledging that this was a "commercial decision" reached by both companies, also suggested that Ford was better placed to protect the brand. He also deflected any suggestion the product wasn't right for the market.

"We have a terrific product in the marketplace at the moment," he said. "There's been a wonderful uptake – wholesale and retail – for our new Panther vehicle. It's our intention that that success [will] continue into the new year with Ford of Australia."

Sinead Phipps, Ford's Public Affairs Director, told the media that it's effectively business as usual for FPV customers.

"There'll be no change from a customer perspective – the customer who wants to buy an FPV or has their FPV serviced. From an outside perspective it will still be exactly the same."

When asked whether the FPV product portfolio would evolve now, possibly embracing ST models or EcoBoost variants, Mr Graziano said that it was “probably too early to talk about any changes to the portfolio”.

"For the foreseeable future, from an FPV prospect perspective, they won't see a significant change in the line-up, in terms of the vehicles we're offering through FPV."

There was no word on the reintroduction of an XR8 Falcon either.

"I have not been bashful about telling that we would love to see that," Mr Graziano explained. "We just haven't figured out a way to have a business model that works... that allows us to bring that product into the portfolio. If that changes, then I guarantee you that I will be the first person to get on the phone and make that call."

FPR, Prodrive Racing, is a separate business and will continue without change.

"There's no change to FPR," Mr Mears said, "It is a separate business... Prodrive Racing, or FPR, is an entirely different business; it has a different management structure. And can I add we're one point off the lead in the [V8 Supercars] championship. This will in no way slow that big push down.

"This has no effect on FPR."

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