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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.

GM design boss Welburn says Lincoln isn't a Cadillac rival [w/poll]

General Motors Vice President of Global Design, Ed Welburn, had some dismissive words for a certain cross-town luxury brand during an interview with Car and Driver. When asked about his thoughts on Lincoln, Welburn deflected, before saying, "I don't consider Lincoln to be a competitor for Cadillac."
"They're not a global luxury brand. I don't consider them a competitor. Are they a competitor for Buick? Quite possibly. But not for Cadillac," GM's head designer explained. Welburn, who's been at the helm of GM Design North America since 2003 and is the first to hold the position of VP of Global Design, has been instrumental in the styling renaissance at GM, so predictably, Car and Driver's interview with him focused on the design aspect of cars.
During the interview, Welburn explicitly denied plans for a reborn Cadillac XLR, even as a new Chevrolet Corvette is hitting the market and strides are being made with Cadillac's V-Series performance arm saying, "We have a lot of cars that we're working on for the Cadillac brand. The XLR is not one of them right now."

How Lincoln could make itself special again

Things are going better for the Lincoln brand — or, more properly, The Lincoln Motor Company — so far this year, and are likely to continue to do so, comparatively speaking. In the first quarter of 2017, the brand's sales are up 8.7 percent compared with the same period last year. Lincoln delivered 27,083 units in the first quarter. The Continental is certainly a boon, with 3,209 units (almost 12 percent of the total number), something Lincoln didn't have in the first quarter of 2016. Its crossovers, the MKC and MKX, were up 15 and 11.2 percent, respectively, and while the Navigator SUV was down 16.2 percent, the new 2018 model will certainly boost that nameplate. Still, there is undoubtedly a glass — or crystal — ceiling for Lincoln (as well as for Cadillac) that it's not likely to break through regarding total US sales. No matter how you look at it, the US luxury market is dominated by import brands, and there is no reason to think that's going to change. Ever. According to Autodata, for the first quarter of 2017 there were 213,817 luxury vehicles delivered, of which 170,780 were from import brands and 43,037 domestic. While there is a good likelihood that Lincoln will gain some ground, given the lineup extensions that the likes of Mercedes, Audi, BMW, and Lexus are making, as well as the creation of new brands like Genesis and the traction of Tesla, it is going to be all the more challenging for any company to get any significant growth in the luxury category. So growth for Lincoln, yes. Notable growth? No. But there is something the company could do to generate revenue separate from the car and crossover business. It may not make a lot of money in and of itself, but it can provide a distinct edge in the product segment that would cement Lincoln with a unique offering. Kumar Galhorta, president of Lincoln, frequently talks about "experiences." About how the company is working to relieve or eliminate "pain points" from its customers. About how time — or the perceived lack thereof — is something Lincoln is working to address. And it's doing so in a way that gives it a distinctiveness vis-a-vis the competitive set. Lincoln's services are creating a buzz in a way that Matthew McConaughey ads never will. Lincoln is addressing it through service. As in offering pickup and delivery for service appointments for all new 2017 Lincoln models.