2004 Ford Thunderbird Base Convertible 2-door 3.9l on 2040-cars

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Detroit Three to lose dominance of North American auto output in 2017

DETROIT — North American vehicle production by the unionized Detroit Three automakers will fall behind the combined North American output of Tesla and automakers from Europe and Asia for the first time this year, IHS Markit forecast on Wednesday. In 2017, the Detroit Three could build 8.6 million vehicles in North America, while Tesla and foreign automakers build 8.7 million, IHS Markit analyst Joe Langley said. By 2024, the gap will widen, with Asian and European automakers and Tesla combining to build about 9.8 million vehicles in North America. General Motors, Ford and the North American operations of Fiat Chrysler Automobiles NV will combine to build 8.1 million vehicles, down 6 percent from this year. Mexico is on track to increase its share of North American vehicle production, Langley said, moving to 4.5 million vehicles a year by 2024 from about 4 million vehicles currently. The milestone for the growth of Tesla and foreign automakers in North America comes as the Trump administration is pushing to limit imports of vehicles from Mexico in negotiations to overhaul the North American Free Trade Agreement. The declining share of North American vehicle production for the Detroit automakers also challenges U.S. and Canadian unions that represent their workers. Canadian workers are on strike at a GM factory in Ontario to protest the automaker's decision to cut jobs and move to Mexico some production of sport utility models built there. Foreign automakers over the past year have announced plans for a wave of new or expanded plants in North America, while Tesla is ramping up to build as many as 500,000 cars a year at its plant in Fremont, Calif. Often referred to as "transplants," the foreign-owned factories are poised to become the mainstream of the North American auto industry. Automakers are increasingly using factories in China or Mexico to build vehicles that used to be assembled solely in the United States, Langley said. He cited as an example Ford's decision to shift production of the Focus small car for North America to a Chinese assembly plant. Reporting by Joseph WhiteRelated Video: Image Credit: Reuters Plants/Manufacturing Chrysler Ford GM

Ford 2Q profit drops 86% as it restructures overseas

DEARBORN, Mich. (AP) — Ford's net profit tumbled 86% in the second quarter due largely to restructuring costs in Europe and South America. Net income for the April-through-June period dropped to $148 million, or 4 cents per share. Without the charges the company made 28 cents per share. Revenue was flat at $38.9 billion. On average, analysts surveyed by FactSet expected earnings 31 cents per share on revenue of $38.49 billion. Chief Financial Officer Tim Stone says the company had charges of $1.2 billion as it moved to close factories in Europe and South America. He says Ford already is seeing an impact from its global fitness measures that included a reduction of 7,000 white-collar workers. Ford, which released numbers after the markets closed Wednesday, says its results include a $181 million valuation loss on an investment in a software company, trimming 4 cents off adjusted earnings per share. Its stock fell 6.3% in after-hours trading to $9.68. Stone said Ford is in the early stages of its restructuring, but already is seeing improvement in some regions. Free cash flow also improved by 80% to $2.1 billion in the first half of the year, he said. "We're already starting to see some early benefits," he said. "A lot of work to do." The company expects improvement in the second half of the year as more new big SUVs hit dealerships and more of the restructuring takes hold. Ford on Wednesday forecast pretax adjusted earnings of $7 billion to $7.5 billion for all of 2019, compared with $7 billion last year. The company previously had only said that pretax earnings would improve. Full-year adjusted earnings per share are forecast to be $1.20 to $1.35, up from $1.30 in 2018. Previously it did not give per-share guidance. Ford's U.S. sales fell nearly 5% in the second quarter, according to the Edmunds.com auto pricing site, as the company exited most of its passenger car business. But Stone said sales of the new Ford Ranger small pickup offset much of that as its share of the small truck segment rose 14%. Edmunds, which provides content for The Associated Press, said Ford's average vehicle sale price rose 2.8% to $41,328 during the quarter. In North America, Ford's biggest profit center, pretax earnings fell 3% to just under $1.7 billion, which the company blamed on switching its Chicago factory to build new versions of midsize SUVs.

TX officer allegedly lets 140-mph street racer go with a warning [w/poll]

Being pulled over by the police is one of the most nerve-racking situations that a driver can go through, and it's even worse when you know that the officer has you dead to rights for speeding well over the posted limit. In this video, the driver of a heavily modified Ford Mustang with a claimed 966 horsepower at the rear wheels could have easily lost his ride for doing triple-digit speeds and street racing, but a friendly Texas police officer appears to send him on his way with a simple warning.
What's more, the driver in question wasn't just speeding - his Mustang was the camera car for a bunch of rolling street races in the wee hours of the morning on a Texas highway. The driver was more than willing to mix it up in the action, too. Eventually the cops catch on and pick the 'Stang to pull over, but not before the Ford owner runs a claimed 140 mph. With only audio to go on after the car is pulled over, the police officer seems incredibly nonchalant about catching someone who was so brazenly breaking the law. Incredibly, the patrolman actually tells the driver that he's seen everyone racing tonight but ignored them. With traffic picking up, the cop says that it's time to "cut it out" and go home for the night. As far as this video shows, that was the end of it.
Warning: There is explicit, not-safe-for-work language in the video below.