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Ford and Chrysler reducing summer plant shutdowns

Most domestic automaker assembly plants traditionally take a couple of weeks off during the summer. The shutdowns give each plant time for much needed repairs and maintenance, and in some cases, help better align production with demand. Not this year, though, as demand for many models is outstripping what Ford, Chrysler and General Motors plants can produce.
Ford has announced that it will shorten its annual summer shutdown for most North American plants from two weeks to one. The shorter shutdown will increase the carmaker's annual North American production by 40,000 units on top of the 200,000 extra units that it was already planning to produce this year versus last. Automotive News reports that Ford produced 2.8 million vehicles on this continent in 2012, and that output this year has already increased 13 percent through April.
Chrysler, meanwhile, is also operating at full tilt and plans to run some plants through the summer with no shutdown at all. Those not getting a break include Jefferson North where the Jeep Grand Cherokee and Dodge Durango are assembled, Toledo North that will assemble the new Cherokee, and Conner Avenue, home of SRT Viper production. Other assembly plants will be down for a single week, while all of Chrysler's engine and transmission plants except one in Indiana will continue operating with no shutdown this summer.

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.

Ford, Toyota clean up in Best Car For The Money Awards

The U.S. News Best Cars for the Money Awards picks winners by looking at the average transaction price, five-year total cost of ownership, the regard a car has from the automotive press, reliability figures from J.D. Power and Associates and safety data from the National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety. The result, according to the magazine, is "the best combination of critical acclaim and long-term value."
Ford nabbed six of the 21 categories that received awards this year, the Focus, Fusion, Fusion Hybrid, Taurus, Escape and Edge getting trophies. Toyota and its Lexus and Scion sub-brands took another five, the Tacoma and Tundra owning the two categories given to pickup trucks. The other ten awards were split between Honda with three, Buick with two, and one each for Subaru, BMW, Hyundai, Chevrolet and Mazda.
Follow the link to see all the winners and read about why they were chosen.