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Ford Q3 pretax profits drop to $1.18B

Following positive third quarter financial results recently from General Motors, rival Ford took a tumble in Q3. The automaker posted pre-tax profits of $1.18 billion, compared to about $2.59 billion in Q3 2013, a drop of around 54 percent. Net income also suffered with $835 million made in the quarter, versus $1.272 billion last year, a decline of about 34 percent. The Blue Oval blamed the gloomy figures on three reasons in its release: "lower volume, higher warranty costs and adverse balance sheet exchange effects."
There were problems of one kind or another in practically every region. North America experienced higher warranty costs than expected, partially due to recalls. The sales volume for the quarter was 665,000 units, versus 725,000 in Q3 2013, and pre-tax results amounted to $1.41 billion versus $2.296 billion last year.
South America and Europe both posted worse pre-tax results than last year. On the bright side, European volume was up slightly to 321,000 vehicles, from 303,000 in Q3 2013. The Middle East and Africa also lost $15 million, but that was an improvement compared to the $25 million loss previously experienced in this region.

Alfa Romeo 33 Stradale revealed, Dodge Challenger Black Ghost driven | Autoblog Podcast #796

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor John Beltz Snyder. John has been driving the 2024 Jeep Wrangler Rubicon 392, while Greg has been making noise in another last call from Dodge, the 2023 Challenger Black Ghost. John, along with Associate Editor Byron Hurd, recently tested the 2023 Honda CR-V and Kia Sportage hybrids for an upcoming comparison review. In the news, Felipe Massa seeks to overturn the 2008 F1 Championship in his favor through legal means; Ford might return to the street-performance truck scene with the F-150 Lobo; Volkswagen has been hinting at something interesting at the Munich show by tweeting a mysterious video of a rabbit (the animal); and while the podcast recording was underway, Alfa Romeo unveiled its beautiful 33 Stradale supercar. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #796 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2024 Jeep Wrangler Rubicon 392 2023 Dodge Challenger Black Ghost Additional reading: 1970 Dodge Challenger Black Ghost hammers for $975,000 at Mecum Spring Classic 2023 Honda CR-V Sport Touring Hybrid vs. 2023 Kia Sportage Hybrid SX Prestige Massa vows to fight for Hamilton's 2008 Formula 1 title Ford F-150 Lobo reportedly coming as street-oriented performance truck Volkswagen teases Rabbit in mysterious video Alfa Romeo 33 Stradale supercar revealed with gas and EV versions, gorgeous either way Additional reading: Alfa Romeo 33 Stradale is a fast Alfa, developed fast Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Green Podcasts Alfa Romeo Dodge Ford Honda Jeep Kia Volkswagen Truck Coupe Crossover SUV Electric Hybrid Luxury Off-Road Vehicles Supercars

eBay Find of the Day: Mk1 Ford GT40 with interesting history

You might expect a rare Ford GT40 to cross the block at some sort of prestigious auto auction from RM or Gooding, not show up on eBay for over $2 million. However, that's exactly what we have here. The seller claims the car is a late-build Mk1 GT40 from 1969, and it's currently owned by the director of the Hublot watch company in Switzerland.
According to the listing, GT40 #P1108 started life as Mk1 car that was built from factory spares in 1969 and was first sold in 1971. However, the auction is somewhat confusing. According to an image in its gallery, the vehicle was actually built from one of the seven spare Mk3 tubs when production of the iconic racers ended.
This GT40 was never built as a racecar - it lived on the streets its whole life. After assembly finished, it was sent to Germany and was eventually registered for the road. The first owner kept the car until 2005 and sold it with 7,300 miles on the odometer. The current owner bought it in 2012.