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Ford reports $3B profit in Q4, $6.9B for the year

Good news out of Dearborn today, as Ford announced $3 billion in profit for the last quarter of 2013, a 90-percent increase over the same period of 2012. Net income for all of last year, meanwhile, jumped to $7.2 billion from $5.7 billion in 2012, while pre-tax profits sat at a decade-topping $6.9 billion for all of 2013.
The results of the substantial profit increases are bigger profit-sharing checks for UAW employees. How big? A record $8,800 on average for 47,000 UAW workers, making 2013 the biggest year for profit sharing in Ford history. In total, $414 million will be paid as part of the profit-sharing scheme.
Now, it should be pointed out that a fair portion of Ford's Q4 profits were due to tax benefits, totaling $2.1 billion, according to Automotive News. Total profits would have also been higher, had there not been a significant recall on the Escape, as well as plant issues in South America.

Weekly Recap: Ferrari, Ford and Porsche power up for Geneva

Monday was Groundhog Day. Tuesday, apparently, was Sports Car Day. The Ferrari 488 GTB, the Ford Focus RS and the Porsche Cayman GT4 all debuted within hours of each other ahead of their rollouts at the Geneva Motor Show. Three sporty machines, three vastly different approaches – and a lot of implications for enthusiasts. That's a day worth repeating. It also illustrates the opportunities automakers see in the performance market, which is expected to grow in the coming years. Ford estimates the segment has expanded 14 percent in Europe and surged 70 percent in North America since 2009. The Detroit Auto Show was evidence of this, and performance cars of every stripe debuted, including the Acura NSX, Ford GT, Alfa Romeo 4C Spider and several others. This isn't a fad. Performance cars aren't going away. The question is why? Stricter CAFE standards are looming in the United States, as are tighter emissions regulations in Europe. And no one expects gas prices to remain low in America. None of this matters for sports cars, and automakers are increasingly using them to elevate their images. That's why Dodge rolled out two 707-horsepower Hellcats last year. It's why Ford has decided to resurrect the GT for road and track. It's why in the depths of bankruptcy, General Motors continued work on the Chevrolet Corvette Stingray, not to mention the Z06. "Great brands are made one car at a time," Ford of Europe president Jim Farley said at the reveal of the Focus RS. Still, companies make those cars for different reasons. View 5 Photos Mainstream brands like Ford and Dodge want to build cars that get people talking, excite their bases and drive more potential customers into the showroom. They probably don't buy a Focus RS or a Hellcat, but suddenly the regular Focus hatch looks a bit hotter, and that V6 Charger seems to be just a touch more muscular. The halo of performance is alive and well in the eyes of automakers and their customers. "It's one of the most effective catalysts for ingenuity and innovation," said Joe Bakaj, vice president of product development for Ford of Europe. That also leads to a trickle-down effect. Some of the technologies inevitably make their way to other products. It's hard to think the new all-wheel-drive system in the Focus RS that distributes torque front to rear and side to side won't be used in other vehicles. It's different for Ferrari and Porsche.

Ford director says company has big efficiency plans, but no dedicated EV

The annual autofest known as the North American International Auto Show previews a plethora of exciting new products that we'll see and drive later in the year, from tiny urban commuters to family sedans and crossovers to hard-working big pickups and SUVs. It's also a once-a-year cornucopia of auto executives and leaders from around the world. "There will be some really fun stuff that you'll hear about in the future" - Ford's Kevin Layden So, in-between dozens of cool new-product unveilings on rotating stages during the two press days preceding the public show, we auto scribes grab what planned and impromptu interviews we can. Sessions with top industry leaders can be hard to get, but I was able to score a seat in a group session with then-General Motors North America president (now executive VP of global product development) Mark Reuss, and I also managed brief one-on-ones with a trio of vehicle electrification leaders, one each from Ford, BMW and GM, and what they said then remains relevant now. First up is Kevin Layden, Ford's Director of Electrified Powertrain Engineering. ABG: Where will Ford go beyond its current Focus EV and hybrids, and will there be a Ford EV and/or hybrid on its own energy-optimized platform one day. KL: We don't want to do a dedicated electric vehicle with all the development costs borne by a niche product. At the Michigan Assembly plant right now we're building the Focus electric, PHEV and EcoBoost on the same assembly line. Also the C-Max, with both a hybrid and an Energi plug-in, and we use that same power pack in the Fusion Hybrid and Energi. We want to be, "The power of choice" [a Ford marketing slogan], so having that choice for customers is very important. And if I want to sell the Fusion, Focus and C-Max globally, we can use these power packs wherever it makes sense. So as we go forward, you'll see us proliferating the power packs we have today. Then the question is, what do we do next? There will be some really fun stuff that you'll hear about in the future. ABG: Is the efficiency difference between a dedicated ultra-efficient vehicle platform and a shared multi-use platform getting smaller as all platforms get more efficient? KL: Exactly. Were going through aero studies now on wheels and tires and hood sealers on base vehicles. We have full aerodynamic wind tunnel studies going on with the base Focus and C-Max, so all of that [aerodynamic improvement] will be there for EVs.