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Ford reports 58% drop in Q2 profits on European losses

Ford Motor Company announced Wednesday that it has posted a $1 billion profit for the second quarter of 2012. That sounds like good news for the Blue Oval, until you take into account that Ford posted a $2.4 billion profit for Q2 a year ago. That is a substantial 58 percent loss.
Ford also posted $465 million in international losses, with $404 million of those losses coming directly from Europe. The automaker also increased its European loss projections to $1 billion for 2012, due in large part to the economic crisis overseas, which has resulted in increased unemployment and decreased consumer confidence.

Ford to cease Australian automaking operations after 90 years

Ford began manufacturing cars in Australia in 1925 with the Model T. In 2016, Ford will stop manufacturing cars Down Under, including the Falcon and the Territory SUV. Ford Australia CEO Bob Graziano has reportedly confirmed the closure of the company's Broadmeadows assembly plant and the Geelong engine plant, both in the state of Victoria. There will be 650 jobs lost at Broadmeadows, 510 sacrificed at Geelong. Of the roughly 3,000 workers the Blue Oval has in Australia, it's said it will try to retain about 1,000 of them at its R&D and product development facilities.
The writing hasn't just been on the wall, it's been a regular item in all the papers and on Ford's bottom line for years. As recently as 2003, Ford sold nearly 75,000 Falcons, but over the next four years, annual sales dropped by something like 10,000 units, and over the last two years, it has sold less than 20,000 per year. It isn't only Ford that has suffered - sales of the other large, locally produced sedan, the Holden Commodore, have also gone over the precipice, triggering the same kind of angst about Holden's continued existence. Ford is the smallest of Australia's local automakers, Holden and Toyota the others, and has posted losses of $AUD141 million last year ($136M US) and $AUD600 million ($580M US) in the past five years. Graziano said the cost of manufacturing is simply too expensive in the country, twice as high as Europe and three times as high as Asia, and there no way to make a business case for staying in the country.
In January 2012, Ford Australia announced it would stay in the country until at least 2016, but by July of the same year, most outside observers were quietly declaring that 2016 would be the last year of Ford Down Under, and even the speculation was making other observers nervous. Ford received money from the Victorian government last year to aid its refresh of the Falcon and Territory, which will continue on schedule for the 2014 model year. A front- and all-wheel-drive sedan on a global platform is predicted to replace the Falcon, with some other SUV expected to replace the Territory. The company says it still intends to expand its lineup in the country.

2014 Ford Transit Connect Taxi hopes to fare thee well

New York City may have selected its taxi of tomorrow, but there are still plenty of municipalities across the US with citizens that depend on yellow livery cars to get them across town in a jiffy. That's why Ford is going ahead with this, the new Transit Connect Taxi.
Based on the 2014 Transit Connect, the TC Taxi boasts a number of features designed to make the compact van appeal to discerning taxi drivers and their fares, with the most notable upgrade being a standardized prep package to convert the 2.5-liter four to run on liquefied petroleum or compressed natural gas. The clean-burning fuel options will allow operators to save on fuel costs and cut down on pollution without sacrificing performance.
A lower load floor and a new twist-beam rear suspension are meant to improve the riding experience for passengers, while the longer 2014 Transit Connect sports extra cargo space as well. In addition to the CNG/LPG conversion, the Transit Connect Taxi can also be easily modified for wheelchair access. Drivers, meanwhile, will have access to optional goodies like Sync with MyFord Touch and a rear-view camera.