Auto blog

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.

Ford reflects on radical Mustang concept that never reached showrooms

The Ford Mustang that we all know and love made major waves in the auto industry way back in 1964 by offering style and reasonable pricing with optional V8 power. Its long hood and short rear deck, combined with a low-slung and sporty cockpit, made a lasting impression in the minds of consumers and car designers alike, and its basic shape has so endured the test of time that it's still in use today.
This being the case, you may be interested to know that the first Mustang of 1964.5 wasn't actually the first Mustang at all, being preceded by a concept car that made its public debut in 1962. This concept was nothing like the car that would eventually make it into production, with a radical wedge shape and a small V4 engine sitting behind the car's two occupants, driving the rear wheels. In other words, the conceptual Mustang was pretty much the complete opposite of the production Mustang besides the name.
Ford has kindly decided go through its massive archive to bring the original Mustang concept back into the public eye. The company goes so far as to pose this question to fans of the pony car: "Should we borrow a few of these style elements for the next iteration of the Mustang?" Check out our image gallery above and then let 'em know what you think in the Comments below.

Next-gen Ford Cobra Jet development underway, but will it be a Mustang?

Ford might be stepping away from the NHRA, but it isn't abandoning drag racing altogether. Hot Rod says that Ford confirmed a next-gen Cobra Jet factory drag racer is in the works, but the report also speculates that a new Cobra Jet could switch away from the Mustang nameplate.
Even though talk of a new Cobra Jet coincides with the all-new 2015 Mustang, the lack of confirmation for the dragster's platform leaves Hot Rod to guess that the car might switch to another platform - specifically a front-drive-based, unibody car like the Fusion or Taurus. We'd hate to think of a world with a NASCAR-ized dragster from Ford Racing, but it's also highly unlikely that the Mustang Cobra Jet would step away from its quarter-mile rivals like the Chevy COPO Camaro and Dodge Challenger Drag Pak.