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Ford Q1 profits dragged down by warranty costs

General Motors isn't the only Detroit automaker posting falling profits in the first quarter. Ford just released its Q1 2014 financial data, and it reported a net income of $989 million, down $622 million from Q1 2013. The drop is partially blamed on higher warranty and recall expenses than the company had anticipated.
Financially, Ford suffered a rough quarter almost across the board. Its pre-tax profit of $1.4 billion was also down $765 million from a year ago. Things were even worse in the North American market where operating profit fell significantly to $1.5 billion, down from $2.392 billion in Q1 2013. However, its global revenue ticked up slightly to $35.9 billion, from $35.6 billion in this period in 2013.
Ford admitted that it spent about $900 million on expenses that it hadn't planned for during this quarter. According to Reuters, the company paid about $400 million in additional warranty and recall costs in North America. The automaker didn't explain why the costs were so much higher than expected. However, in the last three months, Ford has had several recalls, including on the 2001-2004 Escape for rust, Explorer for its steering, Edge for its fuel line and others.

Ford Tourneo ready for duty in Connect, Courier and Custom flavors [w/videos]

Ford was relatively quiet at the Geneva Motor Show, but it did take the opportunity to roll out its new family of Tourneo vans: the Courier, Connect, Grand Connect and Custom. As the passenger version of the Transit cargo vans, the new range of Tourneo models vary from the B-segment Courier up to the fullsize Custom. The Connect and Grand Connect are based on the redesigned 2014 Ford Transit Connect.
With an overall length just three inches longer than the Fiesta hatchback, the Tourneo Courier seats four to five passengers, and it offers a choice of three engines: the 1.0-liter EcoBoost or two small diesels. Like the 2014 Transit Connect was saw in Paris last year, the Tourneo Connect comes in a five-seat configuration while the Grand Connect can seat seven. Finally, the Tourneo Custom seats up to nine passengers, and it is available in two lengths up to 210 inches long putting it just six inches shorter than a standard-length E-Series van and about a foot longer than the Explorer.
Check out our live image galleries, and be sure to scroll down below for the press release and to watch some videos.

How privacy fears are driving automakers in the age of the connected car [w/poll]

A recent GAO report concluded car companies don't adequately disclose how and why they share location data. As cars collect and store more and more data about the whereabouts of their drivers, automakers are responding to critics who say they should be more transparent about how those details are used. Ford is hiring a global privacy policy attorney to craft the company's customer privacy policies in the era of connected and autonomous cars. "In this emerging space, there is an important need to address customer privacy policies," reads a job description posted on the "people and careers" portion of the company's website. "As part of our compliance and ethics organization at Ford, this person will have an immediate and direct impact in shaping existing and future policy and corporate thinking in this area." Ford is creating the new position, based at its Dearborn headquarters, at a time technology advances are outpacing privacy protections. Earlier this year, a report from the federal government concluded car companies don't adequately disclose to motorists how and why they share location data. That report, from the Government Accountability Office, found many car companies did not describe how they shared location data, did not allow consumers to request their data be deleted and that there was a "wide variation" in how car companies retained vehicle-specific or identifiable location data. It noted there is increased risk of location data being used in ways "consumers did not intend." Ford was one of 10 companies the GAO surveyed while compiling its report. Customers are opting to share that data largely by using features like maps and turn-by-turn direction that are run by a vehicle's telematics unit. Depending on the company, it can be unclear how that data is collected, retained or shared. At the time the GAO report was issued, AAA, the nation's largest motoring club, urged carmakers to be more transparent in how they handle data and to offer stronger security protections. Shaping Autonomous Car Regulations At Ford, the new hire could change how the company handles that data. According to the job description, the successful applicant will, "demonstrate visionary thinking around privacy strategy – imagine how consumer and employee expectations around privacy may evolve and how business should adapt, develop approaches that maximize the benefit of data sharing for consumers and business, etc." (Emphasis from Ford).