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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.

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

Are you a new Ford Mustang SVO? [w/video]

When Ford announced that its 2015 Mustang would arrive with a 2.3-liter EcoBoost four-cylinder engine, three letters came to mind: SVO. While Ford hasn't said a word regarding the rebirth of a Mustang SVO model, this latest set of spy shots shows us something very, very interesting. Allow us to explain.
The Mustang prototype in these photos looks very similar to the GT500 test cars we've spotted before - same bulging hood, aggressive front fascia and air vents aft of the front wheels. What's different, however, is around back. Have a look at the exhaust, and note that instead of the GT500's usual quad pipes, two of the exhaust outlets have been capped off.
Our spies point out that these exhaust outlets could be closed for some sort of emissions testing or another engineering reason, but it's also important to note that the engine and exhaust notes of this car sound completely different from earlier GT500 prototypes. We've got a video below that compares the two.