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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.

Ex-GM VP LaNeve takes over Lincoln ad agency

Those of you that caught yesterday's op-ed about Lincoln will have heard already, but Mark LaNeve has taken the helm at Team Detroit. Once the North American vice president of sales, service and marketing for General Motors, LaNeve will now head up the agency that handles all of Ford advertising. LaNeve will also run the account for Lincoln. While at GM from 2001 to 2009, the exec oversaw ad campaigns like Cadillac's Breakthrough and sales initiatives like "Employee Pricing for Everyone."
He left in 2009 to join Allstate as chief marketing officer, oversaw the creation of the Mayhem ad spots and was moved into the role of VP of agency operations overseeing Allstate's 10,000 agents. He resigned from the insurer in February 2012 for personal reasons and joined Team Detroit in August 2012 as chief operating officer, in charge of satellite offices in New York and internationally. He replaces ex-CEO Cameron McNaughton, and will continue to hold the title of COO.
Lincoln is trying to get its 2013 back to rights after putting big dollar commercials for the 2013 MKZ on television then having production glitches preventing cars from getting to dealerships. With rumors of a relaunch in the works, it's no surprise LaNeve has been given the reins - and from here it looks like the brand is desperate for the kind of magic he's proved he can marshal. Perhaps he can start by calling a mulligan on the renaming exercise that gave us the hoary "Lincoln Motor Company" and go back to oh, say, "Lincoln." Then he can ask the product folks to get to work on the MKC concept...

McLaren, Koenigsegg, Toyota, Ford, Dodge and Corvette Lego kits announced for 2021

Lego has announced a slew of car-themed sets for 2021. The six kits comprise nine vehicles and fall under the brick pusher's Speed Champion line of official OEM-licensed kits. News of their arrival comes from German toy retailer JB Spielwaren's pre-order listings, which show three single-car sets and three dual-car sets of matched marques. Starting with the McLaren Elva roadster, the kit consists of 263 pieces and is finished in blue. It seems to have a difficult time capturing the curves of the real-life Elva, but there's only so much you can do with a bunch of plastic blocks. Lego has made several other McLaren kits before, including the Senna, 720S, and a more advanced Senna GTR for the Technics line. Next up is the Koenigsegg Jesko, made up of 280 pieces and finished in white. Though the real-life Jesko is still curvy, this kit does a better job of replicating its aggressive maw, vents and cantilevered rear wing. Rounding out the single-car sets is the 299-piece Toyota GR Supra in yellow. This marks the first time Toyota has lent their license to Lego. Again, it struggles a bit to represent the curvy Supra, relying on printed details like logos and headlights to identify. On the other hand, the Chevrolet two-car does a stupendous job with the 1968 Corvette. The C3 is instantly recognizable as such. The C8-R race car it's paired with suffers from the same issues as some of the previous cars, though. The set contains 512 pieces, and funnily enough the C8 driver has short hair while the C3 driver sports a period-correct wavy mane. The next set is a 627-piece Mopar-themed pair, including a purple (Plum Crazy?) 1970 Dodge Challenger T/A and an SRT top fuel dragster. The race car is spot on, but the Challenger was probably tough to make given the width restrictions. It looks a couple of pegs too narrow compared to the wide proportions of the real deal. Last but not least, the Ford set contains a Bronco R and Ford GT Heritage Edition. Consisting of 660 pieces, the set does an excellent job of representing both cars. The GT looks faithful in its Gulf livery, and the Bronco R looks more like a real Bronco than the actual Bronco R race truck. All in all, it's always fun to see more Lego sets with real cars, and we're glad to see more manufacturers added to the roster. The single-car sets are recommended for ages 7 and up, while the double-car sets have an 8 years and up rating. Price in U.S.