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Ford reports $3B profit in Q4, $6.9B for the year

Good news out of Dearborn today, as Ford announced $3 billion in profit for the last quarter of 2013, a 90-percent increase over the same period of 2012. Net income for all of last year, meanwhile, jumped to $7.2 billion from $5.7 billion in 2012, while pre-tax profits sat at a decade-topping $6.9 billion for all of 2013.
The results of the substantial profit increases are bigger profit-sharing checks for UAW employees. How big? A record $8,800 on average for 47,000 UAW workers, making 2013 the biggest year for profit sharing in Ford history. In total, $414 million will be paid as part of the profit-sharing scheme.
Now, it should be pointed out that a fair portion of Ford's Q4 profits were due to tax benefits, totaling $2.1 billion, according to Automotive News. Total profits would have also been higher, had there not been a significant recall on the Escape, as well as plant issues in South America.

Ford fixing 130k vehicles in three recalls

Ford is issuing three new safety campaigns that cover a total of 130,801 vehicles in North America, but the company has no reports of accidents, injuries, or fires from any of these issues. The largest of these campaigns covers 128,823 examples of the 2009-2010 Ford Edge and Lincoln MKX that are currently registered or originally sold in rust-prone areas of North America, including 110,636 in the US. On these crossovers, "corrosion under the reinforcement brackets where the fuel tank is mounted" can potentially result in a fuel leak. To fix the issue, dealers will inspect the tank and will repair or replace it as necessary. The affected locations are: Connecticut, Delaware, the District of Columbia, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, West Virginia, Wisconsin; and the Canadian provinces of New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, and Quebec. Ford is also recalling 1,906 North American examples of the 2016 Mustang, including 1,900 in the US, because of possible damage to some components during shipping to the factory. On the affected pony cars, "dealers will replace front and rear seat belt assemblies, rear seat buckle assemblies, and child tethers," the company says in its statement. Finally, the smallest campaign is for 72 units of the 2016 Ford E-Series cutaway and chassis cab in North America, including 65 in the US. On these, the trailer brakes don't activate when pressing the brake pedal, and dealers need to update the powertrain control module software. Related Video: FORD ISSUES TWO SAFETY RECALLS AND ONE SAFETY COMPLIANCE RECALL IN NORTH AMERICA DEARBORN, Mich., Oct. 28, 2015 – Ford Motor Company is issuing two safety recalls and one safety compliance recall in North America. Ford is not aware of any accidents, injuries or fires related to these conditions. Details are as follows: Ford Motor Company issues safety recall for certain 2009-2010 Ford Edge and Lincoln MKX vehicles in North America for potential fuel tank issue Ford Motor Company is issuing a safety recall for approximately 129,000 2009-2010 Ford Edge and Lincoln MKX vehicles in corrosion states and provinces in North America for possible corrosion under the reinforcement brackets where the fuel tank is mounted to the vehicle.

Ford Transit gets outfitted for prison duty

Between the Taurus-based Police Interceptor, the Explorer-based Police Interceptor Utility and the F-150 and Expedition special service vehicles, Ford has no lack of offerings for law enforcement. And now it has one more in the form of the new Transit PTV.
Based on the fullsize Transit van, the Prisoner Transport Vehicle can move as many as 12 prisoners in three separate compartments between detention facilities. Created in collaboration with Pennsylvania-based Havis Prisoner Transport Solutions and with input from Ford's Police Advisory Board, the Transit PTV takes advantage of the Transit's considerable configuration options that include three roof heights, two wheelbases, three lengths and four body-styles - not to mention engine options that include the flex-fuel 3.7-liter V6, 3.5-liter EcoBoost and 3.2-liter Power Stroke diesel.
"Transit PTV is the latest example of Ford's deep commitment to helping provide law enforcement agencies with capable vehicles. This concept proves Transit is upfit-ready and designed to Built Ford Tough standards," said Jonathan Honeycutt, Ford police marketing manager. "Many Police Advisory Board members have had the chance to drive this vehicle and they are excited about it. This new vehicle is tough, smart and efficient - ideal for the needs of law enforcement agencies."