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Ford reports 58% drop in Q2 profits on European losses

Ford Motor Company announced Wednesday that it has posted a $1 billion profit for the second quarter of 2012. That sounds like good news for the Blue Oval, until you take into account that Ford posted a $2.4 billion profit for Q2 a year ago. That is a substantial 58 percent loss.
Ford also posted $465 million in international losses, with $404 million of those losses coming directly from Europe. The automaker also increased its European loss projections to $1 billion for 2012, due in large part to the economic crisis overseas, which has resulted in increased unemployment and decreased consumer confidence.

24 Hours of Le Mans live update part two

We tasked surfing journalist Rory Parker to watch this year's live stream of the 2016 24 Hours of Le Mans. What follows is an experiment to experience the world's greatest endurance race from the perspective of a motorsports novice. Parker lives in Hawaii and can hold his breath longer than he can go without swearing. For Part One, click here. Or you can skip ahead to Part Three here. I write about surfing for a living. If you can call it a living. Basically means I spend my days fucking around and my wife pays for everything. Because she's got a real job that pays well. Brings home the bacon. Very progressive arrangement. Super twenty first century. I run a surf website, beachgrit.com, with two other guys. It's a strange gig. More or less uncensored. Kind of popular. Very good at alienating advertisers. My behavior has cost us a few bucks. I'm terrible at self-censorship. Know there's a line out there, no idea where it lies. I still don't understand any of the technical side. Might as well be astrophysics or something. For contests I do long rambling write ups. They rarely make much sense. Mainly just talk about my life, whatever random thoughts pop into my head. "Can you do something similar for Le Mans?" "Sure, but I know absolutely fuck-all about racing." "That's okay. Just write what you want." "Will do. But you're gonna need to edit my stuff. Probably censor it heavily." So here I am. I spent the last week trying to learn all I can about the sport of endurance racing. But there's only so much you can jam in your head. And I still don't understand any of the technical side. Might as well be astrophysics or something. While I rambled things were happening. Tracy Krohn spun into the gravel on the Forza chicane. #89 is out of the race after an accident I missed. Pegasus racing hit the wall on the Porsche curves. Bashed up front end, in the garage getting fixed. Toyota and Porsche are swapping back and forth in the front three. Ford back in the lead in GTE Pro. #91 Porsche took a stone through the radiator, down two laps. Not good. The wife and I are one of those weird childless couples that spend way too much time caring for the needs of their pet. French bulldog, Mr Eugene Victor Debs. Great little guy. Spent the last four years training him to be obedient and friendly. Nice thing about dogs, when you're sick of dealing with them you can just lock 'em in another room for a few hours. You don't need to worry about paying for college.

Ford Mustang GT350R adds a lot more than just a new letter [w/videos]

Okay Chevrolet, the ball is in your court. Ford served up one hell of a rebuttal to the track-focused Camaro Z/28, introducing the limited-production Mustang GT350R, complete with over 500 horsepower, over 400 pound-feet of torque and freaking carbon-fiber wheels. Carbon-fiber wheels. Seriously. It's because of those 19-inch hoops, along with some other changes, that Ford was able to slice 130 pounds from the already lightweight GT350 Track Pack. The wheels are responsible for a 13-pound reduction in unsprung weight per corner, while the removal of such superfluous things like the air conditioning, stereo, rear seats, trunk carpet, backup camera and tire inflator accounts for the rest of the weight reduction. Along with the lower weight, Ford has thoroughly reworked the GT350's aerodynamics, adding a simply monstrous rear wing and diffuser, along with vented wheel wells, a new hood vent that both extracts heat and reduces lift. Beside the aero aids, Ford has shod the carbon-fiber wheels in ultra-grippy Michelin Pilot Sport Cup 2 tires, just to guarantee the shiny side remains up. View 21 Photos Ford retained the standard GT350's 5.2-liter, flat-pane V8, Torsen limited-slip differential (complete with a 3.73 rear axle ratio), although as power figures haven't been published for the standard car, there's no way to know whether the GT350R received a power bump. What we do know, though, is that the GT350R will not be limited to the track. While that's certainly its natural habitat, owners will be able to register and drive this monster on public roads. Take a look at the official press release on the GT350R, available below. And also be sure to have a peek at both Ford's stock photos of the new car, as well as our full gallery of live images, direct from the Blue Oval's Detroit Auto Show press conference home at Joe Louis Arena. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.