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Ford books $2.6B pretax quarterly profit

While its crosstown competitors at General Motors are smarting over a drastic drop in net income to $200 million in the second quarter, Ford has reason to celebrate. The Blue Oval has announced its own Q2 financial results, including a growing net income of $1.3 billion, a $78 million increase over last year. Pretax profits for the company reached $2.6 billion, up $44 million from 2013, but total revenue dropped slightly to $37.4 billion, down from $37.9 billion. Profits per share before one-time charges totaled 40 cents per share, beating Wall Street analysts' expectations of 36 cents a share.
Regionally, the Blue Oval performed strongly, as well. North America posted a record quarterly pre-tax profit of $2.4 billion, a $119 million increase. Europe also showed signs of turn around with its first profit in three years of $14 million after a loss of $306 million in Q2 2013. Ford is actually predicting profitability in the troubled region in 2015. Asia Pacific operations also performed well with $159 million in profits, up $29 million from last year. The only region where the business posted a loss was South America.
According to Automotive News, Ford also announced more precise plans about the changeover to build the aluminum-intensive 2015 F-150. In August, the Dearborn plant will shutdown for eight weeks to retool and its Kansas City plant will do the same next year.

Autoblog Podcast #387

Episode #387 of the Autoblog podcast is here, and this week, Dan Roth, Steven Ewing and Michael Zak talk about more General Motors recalls, upgrades and a diesel for the 2015 Ford Focus ST, and the BMW M235i scoring ahead of the Porsche 911 and Chevrolet Corvette Stingray in Consumer Reports testing. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the new rundown below with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #387: The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics: GM recalls 8.4M more cars in North America Ford Focus ST upgrades and diesel CR says M235i is better than 911 In the Autoblog Garage: 2014 Jeep Grand Cherokee EcoDiesel 2014 Honda Accord Coupe V6 6MT Long-Term 2015 Subaru WRX 2014 Subaru XV Crosstrek Hybrid Hosts: Dan Roth, Steven Ewing, Michael Zak Runtime: 01:35:26 Rundown: Intro & Garage - 00:00 GM Recalls - 26:26 2015 Ford Focus ST - 41:56 BMW M235i - 50:24 Q&A - 59:16 Get the podcast: [UStream] Listen live on Mondays at 10 PM Eastern at UStream [iTunes] Subscribe to the Autoblog Podcast in iTunes [RSS] Add the Autoblog Podcast feed to your RSS aggregator [MP3] Download the MP3 directly Feedback: Email: Podcast at Autoblog dot com Review the show in iTunes Government/Legal Podcasts BMW Ford GM Honda Jeep Subaru Safety Diesel Vehicles Performance bmw m235i

Ringbrothers shows off Coyote-powered 1968 Mercury Cougar

We'll openly admit that not every SEMA build is our cup of tea. But this? A tastefully resto-modded 1968 Mercury Cougar with a 460-horsepower Ford Mustang V8? Yeah, this is right in our wheelhouse. Sadly, there was no in-pwerson SEMA show in 2020, so we missed out on gems like this one. SEMA or no SEMA, the aftermarket carries on, and co-owners Jim and Mike Ring of Ringbrothers (get it?) saw no reason to let their time and effort go to waste.  When they're not building wild customs (see: 1,100-horsepower 1972 AMC Javelin AMX) or more subtle showcases (such as this Cougar or their 1971 K5 Chevy Blazer build from 2018), the folks at Ringbrothers crank out factory reproduction parts, whether for old-fashioned restoration or modification purposes. While '60s muscle cars are recurring build subjects for the two, the Cougar was the first of its kind they tackled.  Keeping it in the family, Ringbrothers sourced a Ford 5.0-liter "Coyote" V8 and a 10-Speed Automatic (lifted from an F-150 Raptor, incidentally) for the build. They didn't stop with the driveline, of course. The suspension was overhauled with a little help from DSE and a set of HRE Series C1 C103 Forged 3-Piece wheels were thrown over upgraded brakes.  "We put our heart into each car we build, and this Cougar is no exception," Jim said. "The finished product is mild and classy, yet any enthusiast instantly knows it's not stock. I imagine this is what Mercury designers would have come up with if they were building the Cougar today." "While we couldn't bring the car to the SEMA Show, we hope it can be shown to the public soon," Mike said. "We had never done a Cougar before, so this was a fun build. I love working with new shapes and coming up with new ideas." There's plenty to appreciate about this Cougar apart from the mechanicals, too. The finish is Augusta Green Metallic (courtesy of BASF), which was a factory color in 1968. You may know it by another name: Highland Green. There are a few custom exterior touches, but they're quite subtle and styled to be period-correct. The interior was also restored and updated, and it's where you'll find the only thing we're not fond of: that big, fat truck shifter. Gearbox choices notwithstanding, it's a bit of an eyesore. But considering how gorgeous the rest is, we'll give it a pass.  Related Video: