Classic 1964 Ford Falcon Ranchero Hotrod Street Rod Cruiser Pickup V8 4 Speed on 2040-cars

Auto blog

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.

Major automakers post mixed US June sales figures

General Motors, Ford and Fiat Chrysler Automobiles NV posted declines in US new vehicle sales for June on Monday, while major Japanese automakers reported stronger figures. Once again, demand for pickup trucks and crossovers offset a decline in sedan sales. Automakers' shares rose as overall industry sales still came in above Wall Street expectations. The US auto industry is bracing for a downturn after hitting a record 17.55 million new vehicles sold in 2016. Analysts had predicted that overall, US vehicle sales would fall in June for the fourth consecutive month. As the market has shown signs of cooling, automakers have hiked discounts and loosened lending terms. Car shopping website Edmunds said on Monday the average length of a car loan reached an all-time high of 69.3 months in June. "It's financially risky, leaving borrowers exposed to being upside down on their vehicles for a large chunk of their loans," said Jessica Caldwell, Edmunds' executive director of industry analysis. GM said its sales fell about 5 percent versus June 2016, but that the industry would see stronger sales in the second half of 2017 versus the first half. "Under the current economic conditions, we anticipate US retail vehicle sales will remain strong for the foreseeable future." GM shares were up 2.4 percent in morning trading, while Ford rose 3.3 percent and FCA shares jumped 6 percent. "US total sales are moderating due to an industry-wide pullback in daily rental sales, but key US economic fundamentals clearly remain positive," said GM chief economist Mustafa Mohatarem. "Under the current economic conditions, we anticipate US retail vehicle sales will remain strong for the foreseeable future." Ford said its sales for June were hit by lower fleet sales to rental agencies, businesses, and government entities, which fell 13.9 percent, while sales to consumers were flat. But it sold a record 406,464 SUVs in the first half of the year, with Explorer sales increasing 23 percent in June. And sales of the F-150 had their strongest June since 2001. On a media call, Ford executives said an initial read of automakers' sales figures indicated a seasonally adjusted annualized rate of around 17 million new vehicles for the month, which would be better than 16.6 million units analysts had predicted. FCA said June sales decreased 7 percent versus the same month a year earlier.

Ford recalls 2017 Lincoln Continental for headlight problem

Ford Motor Co. is already recalling the 2017 Lincoln Continental for a headlight problem, the automaker announced Tuesday. The HID headlights may have been assembled with LED lens that don't have the correct lens optics to meet federal visibility requirements for turn signals. Ford says it is unaware of any accidents related to the issue. The company will replace the headlamp assemblies, if needed. The safety compliance recall covers 1,876 Continentals built from June 14 to Sept. 23 at Ford's Flat Rock factory south of Detroit. Most of the cars are in the United States; 49 are in Canada, and one is in a federalized territory. Only about 300 cars are in consumers' hands, a spokesperson said. Customers can use a Lincoln service program where dealers will pick up their Continental, fix it for free, and return it, the spokesperson said. Lincoln has high hopes for the Continental. The flagship sedan uses one of Lincoln's most iconic names and features a luxurious interior, available 400-horsepower V6 engine, and safety features like adaptive cruise control and a 360-degree camera. Lincoln recently announced an elaborate marketing campaign shot by renown photographer Annie Leibovitz to generate interest in the Continental. In a separate recall, Ford also said Tuesday that 60 Edges from the 2015-16 model year are being recalled to update their antilock braking system module. Related Video: Featured Gallery 2017 Lincoln Continental Campaign View 12 Photos Recalls Ford Lincoln