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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.

2015 Ford F-Series Super Duty Power Stroke

What weighs 30,000 pounds? Big Ben's Westminster bell. A navy ship anchor. Or as we found out during our first drive program for the 2015 Ford F-Series Super Duty, seven pallets of cinder blocks loaded onto a dual-axle gooseneck trailer. The test was part of a raft of towing demonstrations that showcased the new Super Duty's impressive tug capacity, which maxes out at 32,100 pounds. That's 1,200 more than its nearest rival, the Ram 3500, when equipped with its upgraded 6.7-liter Power Stroke diesel V8. Such is the heavy-duty pickup truck business, a diesel-fueled game of one-upmanship with only three players: Ford, Chevrolet/GMC and Ram. And in this game, the one with the most torque wins.
Until 2014, Ford was the one to beat, with its 6.7-liter Power Stroke diesel bringing 400 hp and a massive 800 lb-ft of torque to the table. Then last year, Ram did exactly that, serving Ford with a beefed-up Cummins turbodiesel inline-six in its freshened Ram Heavy Duty truck line with 385 hp and 850 lb-ft of torque, enabling it to tow up to 30,000 pounds. But Ford claims it had designed its engine to be relatively easy to upgrade when the time called for it, so for 2015, Ford bolted a larger turbo to the Power Stroke, bringing output to an insane 440 hp and 860 lb-ft of twist, all without reducing fuel efficiency. Maximum tow capacity rises from 24,700 lbs to an incredible 31,200 lbs for the F-450 dually.
As for GM's HDs? They lag behind the lot with their 6.6-liter Duramax V-8, producing 397 hp and 765 lb-ft of torque. Yeah, you know things are serious when the trucks with 765 lb-ft are the knock-kneed wimps of the lot.

Massive Airbag Recall Affects Seven Automakers

The recall of faulty airbag inflators supplied by Takata has exploded today to grow to seven automakers. In most cases, only models in certain high-humidity regions were affected because the National Highway Traffic Safety Administration found in its investigation that moisture played a role in determining whether there would be a problem. However, some companies opted for national campaigns. The exact number of affected models for these campaigns isn't yet known at this time. BMW is recalling an undisclosed number of 325i, 325Xi, 330i and 330Xi models from the 2001 through 2005 model years and the 2001-2006 model year versions of the 325Ci and 330Ci for the driver side and passenger side inflators. Only vehicles currently registered in Florida, Puerto Rico, Hawaii and the US Virgin Islands are covered under this recall. Neither Chrysler's filing with NHTSA nor its press release list the specific models affected, but a company spokesperson told Autoblog that at this time it only covers the driver and passenger side inflators for the 2006 Dodge Charger in Florida, Puerto Rico, Hawaii and the US Virgin Islands In most cases, only models in certain high-humidity regions were affected because the NHTSA found that moisture played a roll in determining if there would be a problem. Ford is recalling an estimated 58,669 cars that include the 2005-2006 model years of the Ford GT for the driver and passenger inflators, the 2007-2007 model years of the Mustang for the driver side and 2004 Ranger for the passenger side. It covers vehicles originally sold or currently registered in, wait for it... Florida, Puerto Rico, Hawaii and the US Virgin Islands. Honda is issuing three separate recalls regarding the problem. First, the company is recalling the 2002-2003 model years Civic, CR-V and Odyssey and the 2003 model year of the Accord, Element, Pilot and Acura MDX to replace the passenger's side inflator. This covers all models nationwide. Second, Honda is repairing the passenger's side airbag inflator in the 2003-2005 Accord, Civic, CR-V, Element, Pilot, the 2003-2004 model year versions of the Odyssey, the 2003-2005 model year Acura MDX and 2005 Acura RL. However, only for vehicles located in Alabama, Florida, Georgia, Hawaii, Louisiana, Mississippi, South Carolina, Texas, Puerto Rico and the US Virgin Islands. Owners will be notified in July. Finally, Honda is separately replacing some models' driver's side inflators.