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Ford nets $5.7B in 2012, $1.6B in fourth quarter

Ford brought in $5.7 billion in net income during 2012, which is around $307 million less than one year prior. Even so, the automaker closed out 2012 with the highest pre-tax profit for a single quarter in nearly 10 years, earning $1.7 billion in the fourth quarter thanks largely to a higher-than-average truck mix in the US. That's a jump of $577 million over 2011. Likewise, that translated into fourth quarter income of $1.6 billion. All told, Ford set a full-year pre-tax profit record in 2012. But that doesn't necessarily mean everything is rosy in the land of the Blue Oval.
Like every other manufacturer, 2012 saw Ford get hammered in the European Union, where a deep economic recession continues to drive down consumer confidence. The automaker lost more than $700 million in Europe, and saw full revenue of $26.6 billion in 2012. That's a decline of $7.2 billion compared to last yea. Ford says the market for new vehicles in Europe has contracted to 13.5 million units, the lowest number in 17 years. You can read the full press release below for more information.

Ford recalls select Explorer, E-Series vans

Just a few days ago we brought you news that Ford had issued a recall on 28,000 units of the Edge crossover for problems related to the fuel line. But now the Blue Oval has issued recall notices on two more of its larger vehicles.
The first relates to the Explorer, 395 examples of which from the 2011 and 2012 model years were found to have problems with their steering systems if they underwent service after September 1, 2013. An apparent software glitch could lock the steering gear, preventing the driver from steering the vehicle and thereby increasing the risk of a crash. As a result, Ford dealers are being instructed to check their records to identify the problematic vehicles and bring them in to have the steering gear replaced. Details of the recall can be found in the PDF linked here.
The second problem revolves around E-Series vans that may develop bubbles in their windshields under hot temperatures. The decrease in visibility through the problematic windshield could - you guessed it - "increase the risk of a crash." As a result, Ford is calling in 4,532 units of the E-150, E-250, E-350 and E-450 vans built in the relatively short window between May 12 and May 26, 2011. Details of this recall can be found in the notice below from the National Highway Traffic Safety Administration.

Ford Focus PHEV on the way?

A refreshed Ford Focus is in the works and that means a few details are leaking out. Spy shots from last month indicated the Focus will have a gaping grille just like its "One Ford" global C-segment comrade, the Fiesta. While Ford is being quiet about it, the Focus could also be getting an "Energi" option, joining the C-Max Energi and Fusion Energi in Ford's plug-in hybrid family. The Focus will likely use technology originated in the C-Max Energi that combines a 2.0-liter gasoline engine with an electric motor capable of a 20-mile range, according to Autoexpress. The pure electric Focus is expected to stay in the lineup despite its slow sales; its price range should be similar to what's on the market now. The third-generation Focus looked good enough to become the top-selling nameplate in the world in 2012. Some exterior changes to look for in the Euro-spec model at the Geneva Motor Show in March include a reshaped hood, front wing endplate and rear bumper. Interior spy shots have hinted at an updated dashboard design and a simplified, less cluttered control panel with updated climate controls. Under the hood, there are quite a few power options rumored to be available - a gasoline EcoBoost with up to 123 horsepower and two turbo-diesel TDCI options, a 1.6-liter or 2.0-liter mills that would produce between 94 hp and 161 hp. Then there are new 1.5-liter diesel and 1.5-liter EcoBoost gasoline variants that meet regulations in China, Brazil and Russia.