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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.

Even Ford executives had issues with MyFord Touch

MyFord Touch is one of the auto industry's more controversial features. The media broadly panned the infotainment system developed with Microsoft for its slow responses and reliance on voice commands to navigate its deep menus. Oh, and Ford executives weren't big fans, either. Newly revealed court documents in a California class-action lawsuit demonstrate the level of venom Ford employees, both big and small, reserved for the Blue Oval's infotainment system. An error caused Bill Ford's navigation system to crash, leaving the family scion stuck on the side of the road in an unfamiliar area. The documents, unearthed by Forbes, detail current CEO Mark Fields' aggravations with MFT, too. A mechanic emailed an image of a cracked infotainment screen on an Edge to one of Ford's top Sync engineers, Kenneth Williams, suggesting "Mark Fields may have been a little aggravated with the system." But Ford and Fields' issues are nothing compared to the woes of the engineers that had to work on MFT. In a collection of emails obtained by Forbes, one engineer called the system "a polished turd," while another simply said, "These poor customers." And after one engineer suggested using a photo of Ford's Oakville Assembly Plant – home of the Edge, Flex, Lincoln MKX, and MKT production – as a background for the system, one of his coworkers said in an email that someone should instead Photoshop the image to read "abandon hope all ye who enter here," the Detroit News reports. Another summed up the problem, saying: "Ford's quality reputation is completely on the line ... another model year with the same crap is not acceptable." MyFord Touch almost single-handedly torpedoed Ford's reputation in widely reported quality metrics, including JD Power and Consumer Reports. Ford responded with a refreshed Sync3, a wildly improved rethink of its infotainment system that is far more responsive and easier to live with every day. Related Video: News Source: Forbes, The Detroit NewsImage Credit: Ford Government/Legal Ford Lincoln Technology Mark Fields sync 3

Lincoln opens the doors again to the Continental Coach Door Edition

Last year, Lincoln did a limited — just 80 — run of stretched Continentals with '60s-style suicide doors to mark the nameplateÂ’s 80th anniversary. (The Continental launched in 1939 as a special project of Edsel FordÂ’s.) Those cars, officially the 80th Anniversary Coach Door Edition, quickly sold out. That enthusiastic reaction prompted Lincoln to commit to a return engagement. As promised, Lincoln is back with a Coach Door Edition of the 2020 Lincoln Continental. The essential elements are the same as last time. The sedans are based on the top-spec all-wheel-drive Black Label trim level and powered by the 400-hp 3.0-liter twin-turbo V6. TheyÂ’re stretched six inches between the axles, and the longer rear doors are rear-hinged. The work again is being done by Cabot Coach Builders in Massachusetts. The rear-hinged doors retain the ContinentalÂ’s signature exterior door handles that are integrated into the beltline molding with electronic releases. Inside, a full-length center console divides the rear seats and incorporates a table, wireless device charging, audio and climate controls, and tablet/notebook computer holders. The doors each house a Lincoln-branded umbrella, and the door sills are illuminated. Three exterior colors are offered: Chroma Crystal Blue, Infiniti Black and Pristine White Metallic, with the latter two available in a monochrome treatment. Inside, buyers have their choice of two themes: Alpine / Chalet or Jet Black / Thoroughbred. A standard all-wheel-drive Black Label starts at $75,470 (before options), but the 2020 Lincoln Continental Coach Door Edition will start at $115,470 (plus destination fee). This yearÂ’s production run will be approximately 150 cars, and order books open today (Friday, Oct. 4) with deliveries scheduled for spring 2021.