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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.

Ford builds USAF Thunderbirds Edition Mustang for charity

Each year since 2008, Ford has created a one-off Mustang to celebrate military aviation, and the cars have been auctioned off at the Experimental Aircraft Association (EAA) Gathering of Eagles charity event to raise money to inspire the next generation of aviators. This year's charity car is the 2014 Ford Mustang GT US Air Force Thunderbirds Edition, which also helps celebrate 60 years of Thunderbirds air show excellence.
Of all the EAA charity cars, this Thunderbirds Edition is the most in depth. Painted to match the F-16 Tomcat fighter jets used by Thunderbirds, this Mustang also gets a widebody kit and 22-inch Forgiato wheels to go with the cockpit's Recaro bucket seats, rear-seat delete and modified navigation screen and gauge cluster. Even the Mustang's projector puddle lights have been changed to show an aircraft silhouette - rather than the Mustang's galloping horse logo - when the doors are open.
Themes for previous EAA charity cars include the Blue Angels, SR-71 Blackbird and the Red Tails as well as the F-22 Raptor-inspired AV8R and AV-X10 "Dearborn Doll" models. Scroll down for the press release for the 2014 Ford Mustang GT US Air Force Thunderbirds Edition, and be sure to check out our galleries for all six aviation-themed Mustangs.

Check out Ford's fully automated self-parking car [w/video]

As automakers continue to find uses for autonomous and semi-autonomous vehicle technology, Ford of Europe has announced that it is developing a self-parking system for future use. More advanced than the Active Park Assist already offered in many Ford products, the new Fully Assisted Parking Aid can take full control of the vehicle and can navigate angled and perpendicular parking spots.
While today's Active Park Assist can only parallel park with the driver controlling the gas, brake and gear selection, Fully Assisted Parking Aid can operate steering, gas, brake and gear selection all while making sure the car is properly parked in the intended space. As with APA, the driver pushes a button to make the car look for a proper spot (at speeds of up to 18 miles per hour), and when an adequate space is located, the operator pushes another button (either inside the car or outside via remote control) for the car to park itself - the button must be pressed throughout the whole parking maneuver. Even though Ford says that the car can effect gear selections on its own, the system must still start from Neutral, and the automaker isn't saying whether the car can put itself into Park when done or put itself in Drive when the operator is ready to go.
Ford is also taking the opportunity to announce its new Obstacle Avoidance technology. This automated system is able to detect objects - including pedestrians - in the road, warn drivers of said objects and, if needed, stop and steer automatically to avoid hitting the obstacle. Both systems are still in the prototype phase, so there is no word as to when we could see either on a production vehicle.