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Ford posts record pre-tax Q3 profit of $2.6B

Ford took in $2.6 billion in pre-tax profits in the third quarter of the year, making for a record trio of months that saw the Blue Oval's year-over-year earnings increase by $426 million. The earnings are being attributed not just to improvements in North American sales, but sales around the globe.
Revenue was up 12 percent, to $36 billion, although net income took a hit, dropping $359 million to $1.3 billion. Ford was dinged with $498 million in pre-tax charges, which are being blamed for the drop in net income.
The news has boosted Ford's hopes for full-year results, bumping it's total profits up past $8 billion, according to Automotive News. The Dearborn, MI-based manufacturer is still expecting a loss in Europe, although it's forecasted less than the $1.73 billion it burned in 2012. In fact, according to CFO Bob Shanks, Ford's European losses dropped by 51 percent year-over year, a huge improvement for the brand.

Detroit 3 and UAW could create healthcare pool

Healthcare costs continue to multiply in the US with no clear end in sight, but the United Auto Workers and the Big Three are negotiating a way to rapid growth under control. As part of the latest contract talks, the union has an idea to create a healthcare pool across all of its members at Ford, General Motors, and FCA US. If accepted, the company-wide integration would spread out the expenses and create a massive member base for bargaining with insurance companies. Both Ford and GM are at least considering the proposal, according to The Detroit News, and FCA US might be on board, as well. The idea is the work of current UAW president Dennis Williams and is based on the similar pool for the Voluntary Employee Beneficiary Association for retirees. "I've walked through this several ways; I just don't have any other answer," Williams said to The Detroit News. "I do believe this will work. It's worked with the VEBA." Williams was elected UAW president last year and won by an overwhelming margin. He vowed no more concessions to automakers. In addition to healthcare, the two-tier wage system is another major talking point in the contract negotiation because it gives fewer benefits to entry-level workers. Higher wages are also a request. Healthcare costs are a massive expense for automakers and are expected to reach over $2 billion this year, according to The Detroit News. The payments are up nearly 50 percent or more in just the last four years.

Ford F-150 bumps Camry from top of Cars.com American Made Index

With July 4th just around the corner, what better time could there be for Cars.com to announce that the Ford F-150 is the Most American car of 2013? This may be especially true since it was the Toyota Camry, a car produced by a company based in Japan, that had held the top spot from 2009 to 2012.
Cars.com compiles its Most American list by considering the amount of parts each vehicle uses that come from America, where it's final assembly takes place and how many units per year are sold. "While the assembly point and domestic parts content of the F-150 didn't change from 2012-2013, vehicle sales are responsible for bumping the F-150 to the top spot," according to Patrick Olsen, Editor-in-Chief of Cars.com.
As far as automakers go (as opposed to individual models), Toyota retains the top spot it held in 2012, with General Motors, Chrysler, Ford and Honda (in that order) rounding out the list. The motivation behind this list each year, according to Olsen, is "to help car shoppers understand that 'American-Made' extends beyond just the Detroit three" and because "a study we conducted in 2012 indicated that 25 percent of shoppers surveyed preferred to buy American."