“It's good enough. It's good enough.”

Farley used this phrase to describe the internal culture he is working to change after a quality disaster prompted a shift in the company's strategy.

“Just like Ford, the Lincolns are made in our North America plants and the quality is going from like 23 rd to first in initial quality. Three or four years ago, when we were making these kind of choices, that was less clear. We were working really hard.”

Farley discussed how quality improvements in North American plants enabled the brand's strategic pivot in an interview with the Detroit Free Press.

“"We see this win as a first down payment on a much more consequential virtuous circle, going from initial quality to long-term durability, lowering our warranty costs even further, fewer recalls, stronger customer loyalty, more pricing power, and for our conquest and growth, improved resale value."”

Farley describes the company's top ranking in a J.D. Power quality study as a starting point for reducing warranty costs and recalls.

“"Consistently, our China and Mexico plants are the most compliant with process and have the deepest problem-solving skill,"”

Farley discusses the manufacturing process compliance and problem-solving skills found in Ford's international plants compared to domestic ones.

“Our initial quality is getting better , and there's clear evidence of that from our own internal metrics, as well as from third parties,”

Farley spoke about improvements in initial quality metrics during a discussion regarding the company's manufacturing performance.

“I'm very proud that an American car company can beat the world in initial quality , but obviously none of us are satisfied”

Farley commented on the company's progress in initial quality during an interview with CNBC.

“recall costs are going down,”

Farley discussed the financial trajectory of the company's warranty and recall expenses in an interview with Yahoo! Finance.

“"It makes our quarters lumpy and it’s challenging, but it will reduce warranty (costs) over time"”

Farley discusses the financial impact of a new quality assurance program that involves testing vehicles to failure to find problems before customers do.

“"The other thing we maybe made it more difficult in a way, but better for the company fitness-wise, is we put a lot of new technology in our vehicles. And that new technology is difficult for the dealers to diagnose when customers come in and say something is wrong with my SYNC system."”

Farley explains how new vehicle technology and diagnostic difficulties at dealerships contribute to warranty reserve hits.

“Yes, we committed to $2 billion of cost savings across the industrial system. But to me, much more important than that, last year was the first year we turned around initial quality, 10 percent better.”

Farley discussed improvements in initial quality during the company's Q4 earnings call with investors.

“The capability atrophy in engineering, supply chain and manufacturing in Ford, John and I talk about this every day was much more - needed a much more fundamental reset than I had realized.”

Speaking at the 2024 Wolfe Conference, Farley admitted that the company's industrial systems required a more significant reset than he initially understood.

“I think you would have a much stronger Ford . We would have a much stronger base. The irony of that, though, is that if we had done that quicker”

Farley expressed regret regarding the timeline of addressing quality issues during a public discussion.

“"We left $2 billion in profit on the table. To say that I am frustrated is an understatement"”

Farley expresses frustration during an earnings call after the company missed profit targets due to poor execution and quality lapses.

“I have watched Ford repeatedly fall in love and fall out of love with quality.”

Reflecting on Ford's historical cycles of quality focus during his automotive career.

“"Quality is our No. 1 priority as a company, and Jim Baumbick is the right leader to deliver world-class quality and reliability at Ford"”

Farley issues a statement following the retirement of the company's top quality executive amidst ongoing reliability struggles.

“The capability atrophied in engineering, supply chain and manufacturing at Ford.”

Acknowledging Ford's quality and cost challenges following the launch of key new vehicles.

“"We have more work to do, that's all I'll say. We are not satisfied with the quality run rate. It may be coming down but that's not what we're targeting. We're targeting a fully competitive level of warranty spend on coverages and that's got lots of zeros next to it."”

Farley addresses analysts regarding the company's dissatisfaction with current quality metrics and the high cost of warranty coverages.