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Ford names Lincoln chief as North American president following Nair's departure

Ford announced yesterday that its North American president Raj Nair would no longer be working for the company due to "inappropriate behavior." As a result, the company needed fill that gaping vacancy. The new North American president and Ford Group vice president will be Kumar Galhotra, and his term in the new role will start on March 1. Galhotra will remain the group vice president and chief marketing officer for Lincoln through March, meaning he's the head of the luxury brand. He's had this position since 2014. Before that, he was vice president of engineering for all of Ford. With Galhotra's promotion, a number of internal promotions follow. Joy Falotico, current chairman, CEO and group vice president of Ford's credit division will fill Galhotra's position, and Dave McClelland, vice president of marketing for Ford Asia Pacific, will fill her role. Other shuffling at Ford includes Stewart Rawley's promotion to vice president for Ford North America and chief operating officer. He is the current vice president for strategy at Ford. Ford China's chairman and CEO John Lawler will take Rawley's old role, and Cathy O'Callaghan will take over Lawler's job at Ford China, but not until June 1. O'Callaghan is currently vice president, corporate controller and chief financial officer for global markets at Ford. Related Video:

Shelby GT350 stars in 2015 Monterey Motorsports Reunion

Scoping out classic racing machinery sitting at Monterey Car Week is a lovely experience. We're always stoked to see some of these priceless pieces of metal wherever we can, up close and personal. But we all know that where they really belong is on the racetrack. That's where the Monterey Motorsports Reunion comes in, and this year's event was a thrilling spectacle. Sponsored as always by Rolex and held at the legendary Mazda Raceway Laguna Seca, this year's reunion brought together a wide array of tantalizing machinery from the annals of racing history. There were Can-Am racers – some of the fastest and most powerful competition equipment ever devised – of every color, and more racing Porsches than you could shake a titanium connecting rod at. But the biggest part of the spectacle was the Shelby GT350. That most venerable of classic Mustangs served as the featured marque this year as it celebrated its 50th anniversary. Auspicious timing, considering that Ford has now brought it back. But fans of the original will want to check out the dozens of snake-bitten pony cars doing their thing on one of America's finest racing circuits. Check out the GT350s, captured through the lens of our own master shutterbug, Drew Phillips, in the gallery above, and the full array of reunited vintage racers in the second gallery below the video.

Ford posts decade-best $2.1B profit in Q1 2013

As predicted, Ford has reported that its first quarter of 2013 was a resounding success overall, with a pretax profit of $2.1 billion ($0.41 per share), and a net income of $1.6 billion ($0.40 per share). In fact, Ford made a pretax profit of some $2.4 billion in its home North American market, with that total number being pulled down by losses in South America and Europe. That gaudy North American profit is the strongest result by the automaker since 2000.
Ford's companywide profit for Q1 was down $147 million from one year ago, while the net income number marked an increase of $215 million year over year. Overall, this is Ford's 15th-consecutive profitable quarter.
The bad news from the European market was even worst in Q1 2013 than it was last year. Pretax losses of $462 million - on revenue of $6.7 billion - represented a year-over-year change of -$313 million. In South American, the company reported a loss of $218 million, down from a slim profit of $54 million in Q1 2012. The news was better for Ford Asia Pacific Africa, where a $6 million pretax profit in 2013 showed a year-over-year gain of some $101 million when compared to losses in 2012. Scroll down to read Ford's full press release.