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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.

Spy shooter claims proof of upcoming aluminum Ford F-Series Super Duty

Ford has already confirmed that the 2015 F-150 (pictured above) was just the beginning for its more extensive use of aluminum. CEO Alan Mulally said it himself during the 2014 Detroit Auto Show. We've even already seen the future Raptor testing with an aluminum body. But a recent discovery from an intrepid spy photographer might indicate that the lightweight metal is coming to the Blue Oval's Super Duty pickups in their upcoming generation, as well.
According to Automotive News, a spy shooter in Colorado spotted a prototype for the next-gen F-350 testing. He happened to have a magnet on hand and got close enough to check the truck out. When he held it up to the metal in the bed, it didn't stick, which signaled to him a switch from steel to aluminum.
Obviously, this claim raises some questions. Given that it was a test vehicle, one possibility is that the Blue Oval is just evaluating the feasibility of switching to aluminum for the Super Duty trucks, not necessarily committed to it yet. Ford has been testing it quite exhaustively, after all. In fact, much of the rest of the truck in question was covered in camouflage, so it's possible that the magnet failed to work along the rest of the body not because it was aluminum, but because it wasn't powerful enough to get through the disguising material. Thus, the lightweight metal's use could be far less substantial than on the new F-150. Still, it was a clever idea for the cameraman to check things out and might have given us the first hint about brand's next heavy-duty models.

Detroit Three autoworkers could get huge bonuses

For a long time, being a line worker for one of the Detroit Three has meant living with an uncertain future. With the health of American automakers on the rise, though, things are also starting to look up for the men and women building the cars. The latest sign that things aren't bad? Big profit-sharing checks.
According to The Detroit News, Ford, General Motors and Chrysler could end up paying over $800 million to 130,000 workers as part of a profit-sharing plan. According to The News, the economic impact of these profits in Michigan alone could exceed $400 million, besting the NFL's Super Bowl, MLB's All-Star Game and the NHL's Winter Classic for their economic impact.
This is the third straight year the Detroit Three have issued profit-sharing checks to UAW employees, and for many workers, the checks are as close as they'll get to a raise, due to the most recent contract between the union and the manufacturers. On average, employees at GM and Ford receive $1 for every $1 million in North American (not just the US) pre-tax profits. Chrysler, meanwhile, gets a similar deal, although the Auburn Hills-based company calculates profit sharing using 85 percent of the brand's global profits.