1968 Ford Galaxie 500 Xl 6.4l on 2040-cars

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Ford Q1 profits dragged down by warranty costs

General Motors isn't the only Detroit automaker posting falling profits in the first quarter. Ford just released its Q1 2014 financial data, and it reported a net income of $989 million, down $622 million from Q1 2013. The drop is partially blamed on higher warranty and recall expenses than the company had anticipated.
Financially, Ford suffered a rough quarter almost across the board. Its pre-tax profit of $1.4 billion was also down $765 million from a year ago. Things were even worse in the North American market where operating profit fell significantly to $1.5 billion, down from $2.392 billion in Q1 2013. However, its global revenue ticked up slightly to $35.9 billion, from $35.6 billion in this period in 2013.
Ford admitted that it spent about $900 million on expenses that it hadn't planned for during this quarter. According to Reuters, the company paid about $400 million in additional warranty and recall costs in North America. The automaker didn't explain why the costs were so much higher than expected. However, in the last three months, Ford has had several recalls, including on the 2001-2004 Escape for rust, Explorer for its steering, Edge for its fuel line and others.

249 reasons you want to go to Goodwood Revival

At its most basic, Goodwood Revival is a long weekend worth of car races featuring cars made before 1970. There are lots of those, though, including some pretty great ones all over the world. But nothing is like Goodwood Revival because it's so much more than "just" vintage car racing.  First, you have to look the part. Attendees are strongly encouraged to dress in period clothing from the 1940s, 1950s and 1960s, with a strict dress code enforced should you want to enter the paddock. The goal is to create a more authentic atmosphere to match the cars and the meticulously restored and recreated paddocks, grandstands and other facilities of the reborn Goodwood circuit. Now, the dress code was relaxed this year since the Saturday was literally the hottest Sept. 9 on record in that part of England, and the organizers didn't want people dropping dead because they needed to wear an ascot. Some people definitely took the "relaxed" bit too far, but there was still plenty of atmosphere maintained. It really does make a big difference, as those "relaxed" individuals were often akin to seeing a Starbucks cup in a scene from "Game of Thrones."  You can see what I came up with below along with former Autoblog editor Reese Counts and various other Goodwood attendees. Second, there's the parking lot. But I'll let this entire separate post detail that. Third, there's the enormous carnival-like area featuring vintage-looking rides and various boutiques. Both of those are on the outside portion of the track, and honestly, you could easily just spend your entire day in the parking lot and carnival/shopping area without even crossing over into the circuit area. There you'll find more shops, food and drink opportunities, plus obviously, race car paddocks and the track itself.  Fourth, there are airplanes! I heard there are fewer than in the past, but they're there and they're cool. The Goodwood circuit started out life as the perimeter road around the World War II airfield RAF Westhampnett.  Fifth, with all of the above, Goodwood Revival really is fun for the whole family. It isn't just a bunch of old guys sitting around in lawn chairs. There are plenty of women and adorably dressed children, including babies in vintage prams. It's also not an event that's exclusively for the uber rich, even if they are certainly in full force given who has the sort of money needed to go vintage racing.

Ford recalls Five Hundred, Mercury Montego sedans over fuel tank woes

Ford has announced through the National Highway Traffic Safety Administration that it is recalling nearly 3,000 examples of its Five Hundred and Mercury Montego (pictured) sedans from the 2007 model year.
The action, which affects 2,945 vehicles, is due to potentially defective welds between the filler neck and the fuel tank, a condition that could result in a fuel leak or the smell of gasoline reaching the occupants. In the worst-case scenario, a leak could cause a fire. Cars with the affected fuel tank problem could see an illuminated dashboard warning light as a result of the evaporative emissions leak being detected.
Ford will inspect and replace the fuel tank at no cost to owners (those who have already had the procedure done at-cost can apply for reimbursement), and the Dearborn automaker will begin notifying Five Hundred and Montego owners beginning August 15. Check out the official NHTSA press release after the jump for further details.