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Ford books $1.2B profit in second quarter on strength of trucks

Ford is rolling along nicely, with a positive second-quarter sales report and a $2.3 billion profit in North America. The Dearborn, Michigan-based manufacturer captured $1.2 billion globally from April to June, with a $177 million profit in Asia. Even in Europe, the land of doom and gloom for automakers not named Mazda, Ford saw some success as it lowered its expected full-year loss from $2 billion to $1.8 billion. The company lost $348 million in Europe during the second quarter, which, believe it or not, represents a $56-million improvement over 2012.
According to the report on CNBC, Ford enjoyed a three-percent increase in pre-market trading thanks to the news. The strong demand for the F-150 propelled growth in the US market, while Ford's 47-percent increase in Asian sales can be attributed to the new EcoSport crossover and Kuga (Ford Escape in the US) arriving in the somewhat fragile Chinese market.
Pre-tax profits for Ford are expected to be in the neighborhood of $8 billion by the end of the year, with sales the US, Europe, and China all looking up. The company also shifted $4.78 billion of asset-backed debt in the form of bonds, according to a report by Bloomberg. This move came amidst rumors of the Federal Reserve cutting back on its $85-billion-per-month bond purchases. Ford wasn't alone among automakers looking to sell off debt, though, as Mercedes-Benz and Nissan shifted around $1 billion each in bonds relating to auto loans.

Toyota tops Kelley Blue Book's Resale Value Awards

Kelley Blue Book announced its annual Best Resale Value Award winners, and we weren't too surprised to see the list dominated by Japanese automakers - mainly Toyota and Honda. KBB hands out the awards based on the projected residual value of mostly all 2013 model year vehicles, and Toyota skated home with a number of awards including 10 of the 22 overall categories and having five of its products in the top 10 for models with best resale value. KBB's Best Resale Value Awards were announced in the same week as the ALG Residual Value Awards, and there were many similarities between both lists, especially when it came to Toyota.
To come up with its winners, KBB measures depreciation over the first five years of ownership, and looks for the cars it expects to hold its value the best after this time; on average, the report says the 2013 model year vehicles will lose 61.8 percent of its value in five years. Of the 22 categories, 15 slots were filled by Toyota, Honda and Nissan products, while the Camaro and Porsche (Cayenne and Panamera) each took home a pair of awards. If Toyota has anything to be upset about in this list of cars, it's that categories for Hybrid/Alternative Energy Car and Electric Vehicle went to the Ford Fusion and Chevrolet Volt, respectively.
The overall top 10 models for the best resale value in 2013 are, in alphabetical order:

2022 New York Auto Show Roundup | All the reveals, reviews, pictures

NEW YORK — In case you missed it, the New York Auto Show took place this year after being canceled in both 2020 and 2021 due to Covid. A lot of manufacturers showed up in force, but not everybody did. No matter, we were there, and we brought you news, photos and scoops from the floor throughout the show. All of our New York-related stories can be found at our central hub here, but if youÂ’d rather just get a small taste of everything in a quick and digestible format, keep scrolling. 2023 Kia Telluride and its new X-Pro trim Kia revealed the TellurideÂ’s first major refresh at New York, and it makes the three-row crossover a little bit more desirable without screwing up what we liked about it before. ThereÂ’s a new X-Line and X-Pro trim for someone who might want a little more off-road capability, and a number of tech improvements. Most notably, a newly-designed dash features new and bigger screens. 2023 Hyundai Palisade The TellurideÂ’s sister car from Hyundai was treated to a similar refresh. Like the Telluride, Hyundai gave the Palisade a slightly revised look, a new off-road trim (called XRT in the PalisadeÂ’s case), more tech inside and a new dash design with full-width air vents. If we had to choose, weÂ’re a little more impressed with the TellurideÂ’s refresh, as a number of us on staff actually prefer the pre-refresh Palisade styling over the new one. 2023 Jeep Wagoneer L and Grand Wagoneer L This one was inevitable. Jeep revealed the longer, roomier versions of its Wagoneer and Grand Wagoneer in New York, and theyÂ’re designated with an “L” at the end of their names. Total length grows by a foot, and the wheelbase goes up by 7 inches versus the standard Wagoneer models. Jeep has essentially allocated all this extra room to the cargo area, as it now offers a staggering 44.2 cubic-feet of space behind the third row. Besides the L, Jeep announced that its new Hurricane inline-six engine would find its first home in the Wagoneer. Efficiency gets a small boost, and power is more than sufficient at either 420 horsepower (standard output) or 510 horsepower (high-output version) from the twin-turbo I-6. Chrysler Airflow Graphite Concept The Stellantis party continues with Chrysler and its slightly revised Airflow. Re-styled for the New York market after initially debuting at CES in Las Vegas, the Airflow Concept gets new paint, changed accent colors, a slightly changed interior design and a new interpretation of the Chrysler logo.