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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.

Ford pulls official support from top-level NHRA teams

As the smallest team in the sport, it wasn't really a surprise when Dodge decided to pull out of NASCAR, but Autoweek is reporting that Ford is looking to pull the plug on its professional-level NHRA sponsorships following the 2014 season. With attendance and television ratings down, the article reports that Ford is just backing out of the top series but will remain active in the Sportsman classes of racing, which are geared more toward the grassroots and semi-professional racers.
This means that one of drag racing's biggest names, John Force, will be left looking for new sponsorship after next season. Force, 64, has been with Ford for 17 years, winning 15 championships in that time and winning almost half of all Funny Car events in his Mustang since he started working with Ford in 1997, but after 2014, there could be some big shakeups at John Force Racing.
According to the report, Force would consider is moving over to the Top Fuel dragster series, although he could also move to another manufacturer to remain in the Funny Car series. With Ford on the way out, this leaves just Toyota and Dodge as the remaining active automakers in the highest levels of drag racing.

Ford could post best-ever profits in Q1 2013

Analysts are saying that Ford Motor Company may have earned a record $2.7 billion pretax profit in North America during the first quarter of 2013, a number that represents its highest first quarter profit ever. The impressive earnings are further proof that the American automaker is making a solid comeback as the economy begins to recover.
Morgan Stanley and JP Morgan Chase are estimating that Ford's first quarter North American profit may have topped 12 percent. The firm cited the automaker's fresh lineup, but noted that CEO Alan Mulally needs to uphold the pace as the company works to gain ground in the car and utility segments.
Ford's success has been led by increased demand for its F-Series pickup, the best-selling vehicle in the US for 31 years, and by the Fusion sedan that recently recorded its best-ever quarterly sales in the domestic market. Ford is expected to release its first-quarter revenue on Wednesday, of this week.