During his visit to FoMoCo’s Chicago plant last week, President Barack Obama announced that the United States Export-Import Bank has approved a $250 million working capital loan guarantee for the Dearborn automaker. The loan facility financed a $3.1 billion of export sales for over 200,000 vehicles being sold to buyers in Canada and Mexico.
Obama made the announcement while visiting Ford”s Chicago assembly plant that builds the new 2011 Explorer and the Taurus sedan. During a tour of Ford’s Chicago assembly, Obama checked out the redesigned 2011 Ford Explorer and said it was “an outstanding car.”
“My most recent car was a Ford,” Obama said. “I had one of those Ford Escapes, and that was a spiffy car. Now, I have to admit that I bought it about two months before I got Secret Service (protection) and they wouldn’t let me drive anymore. So it only had like 2,000 miles after five years, but I really enjoyed those 2,000 miles.”
Last week, Obama took a 40-foot test-drive in a 2011 Chevrolet Volt and said the electric car was “pretty smooth.”
Refresher: Power for the 2011 Ford Explorer comes from a 3.5L Ti-VCT V6 engine making 290-hp and 255 lb-ft of torque. The engine is mated to a 6-speed automatic transmission or the optional 6-speed SelectShift automatic. Ford will also offer an 2.0L inline 4-cylinder turbocharged and intercooled EcoBoost engine making 237-hp and 250 lb-ft of torque. Also mated to a 6-speed automatic, the EcoBoost Explorer is expected to deliver a 30 percent increase in fuel-economy. The 2011 Explorer will hit dealerships with three trim levels including base, XLT and Limited. Prices start at $28,190.
2011 Ford Explorer:
– By: Omar Rana
Source: Inside Line