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Ford cuts CEO's compensation 37%

Ford Motor Co. CEO Alan Mulally earned $13.57 million in total compensation in 2008, a 37 percent decline, as the automaker avoided seeking a federal bailout while posting a record loss. Mulally will take an additional 30 percent cut in salary this year and next as he battles a global financial crisis and the worst U.S.

Top 10 car adverts revealed

THE UK’s favourite television car advertisements have been revealed and Honda has grabbed the top two places. Its Hands advert was an easy winner with more than 12 million views, followed by the Japanese firm’s An Impossible Made Possible ad in second spot. Third place went to one of two Chevrolet adverts in the top 10 with the American company’s Outstanding Design ad in third followed by its LifeTest promotion in fourth.

Lincoln opens first dedicated design studio for 40 years

Ford has opened the first dedicated Lincoln design center for 40 years in Dearborn, Michigan, as part of its ongoing brand reinvention. Last August Ford announced it would be creating the studio for its luxury brand as well as increasing spending, giving it unique interiors and powertrains in an effort to differentiate it from the core Ford offerings. The Lincoln Design Studio has been built on the campus of Ford's Product Development center and houses designers, sculptors, modelers and engineers who make up part of a larger Lincoln Product Development team that will create four new Lincoln vehicles by 2015.