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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.

2021 Lincoln Corsair Grand Touring brings plug-in hybrid tech to the small crossover

LOS ANGELES — When the new Ford Escape and Lincoln Corsair were launched, the Corsair was strangely lacking a hybrid variant like the cheaper Ford. The reason for this is that Lincoln was preparing a slightly more advanced hybrid for the small luxury crossover. The 2021 Lincoln Corsair Grand Touring elevates itself over the Ford by bringing plug-in capability and a different kind of all-wheel drive. At the front of the Corsair, the powertrain is the same as the Ford Escape. It's a naturally aspirated 2.5-liter inline-4 and an electric motor powering the front wheels. But at the back, Lincoln has added another electric motor with a single-speed transmission to power the rear wheels, just like Toyota has been doing in the all-wheel-drive versions of the Toyota Prius, RAV4 Hybrid and Lexus UX250h. In addition to giving the Corsair four driven wheels, it brings total horsepower up to 266 ponies, an increase of 66 over the Ford. Having this rear motor opens up lots of freedom for how much power is given to the rear wheels, and a Lincoln representative said that the rear can go into a coasting or free-wheeling state when cruising for efficiency. Supplying electricity to the Corsair Grand Touring is a floor-mounted 14.4-kWh battery pack. Lincoln estimates it will provide enough power for the Corsair to drive about 26 miles on a charge. Neither the battery nor the rear motor take up any interior space, so rear passenger and cargo capacity remain the same as the regular Corsair. Charging can be done at Level 1 or Level 2 chargers, with the former taking 10 to 11 hours and the latter taking 3 to 4 hours. DC fast charging is not available, something that's featured on the Mitsubishi Outlander PHEV. Hybrid mechanical bits aside, the Corsair Grand Touring is just like any other Corsair. The only indicators that it's a hybrid are the unique grille, 20-inch wheels, blue badging and additional door for the charging plug. The Grand Touring comes standard with Lincoln's cell-phone key system, automatic emergency braking, blind-spot monitoring, lane-keep assist and automatic high-beams. Automatic parking, a head-up display and adaptive cruise control are all options. Pricing hasn't been announced yet, but will likely revealed closer to the on-sale date in the summer of 2020. Looking at the price structure for the Aviator, which also has a Grand Touring plug-in hybrid variant, the Corsair Grand Touring could be priced above the current range-topping Reserve trim.

Lincoln announces its first EV will be built on Rivian platform

Confirming months of reports, Lincoln announced that its first fully electric vehicle will be based on the Rivian electric platform. That platform will underpin the Rivian R1T pickup truck and R1S SUV. Lincoln didn't specify whether this EV will be a car, truck or SUV, but all signs point to an SUV. The company highlighted its revamp of crossover and SUV models and how they've helped increase the brand's sales. Rivian's CEO R.J. Scaringe also said previously that it would build an SUV for Lincoln. In that same report, Scaringe noted that the Lincoln electric SUV would launch sometime in 2022, and it would be built at the factory in Illinois where it will also build the R1T and R1S. The R1T and R1S are expected to go into production at the end of 2020. Based on what we know about the Rivians, it could have a range from 230 to 400 miles and output as high as 800 horsepower from a quartet of motors. The production of the Lincoln electric SUV on the Rivian platform in the Rivian factory may also be a factor in Rivian lowering the prices of its vehicles. The base R1T was initially priced around $70,000 and the base R1S at around $72,000. But with the addition of the third Lincoln variant, now has more vehicles to recoup development costs. Related Video: