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Ford reports $3B profit in Q4, $6.9B for the year

Good news out of Dearborn today, as Ford announced $3 billion in profit for the last quarter of 2013, a 90-percent increase over the same period of 2012. Net income for all of last year, meanwhile, jumped to $7.2 billion from $5.7 billion in 2012, while pre-tax profits sat at a decade-topping $6.9 billion for all of 2013.
The results of the substantial profit increases are bigger profit-sharing checks for UAW employees. How big? A record $8,800 on average for 47,000 UAW workers, making 2013 the biggest year for profit sharing in Ford history. In total, $414 million will be paid as part of the profit-sharing scheme.
Now, it should be pointed out that a fair portion of Ford's Q4 profits were due to tax benefits, totaling $2.1 billion, according to Automotive News. Total profits would have also been higher, had there not been a significant recall on the Escape, as well as plant issues in South America.

Sunday Drive: Big debuts from the Big Apple dominated the headlines

New York Auto Show week has come and gone, and, not surprisingly, the week's biggest bits of news came from the halls of the Jacob K. Javits Convention Center in NYC. Our favorite debut from New York was the Lincoln Aviator, a sharp-dresses crossover that looks lovely inside and out, and sits on underpinnings at least partly derived from the Ford Mustang. While the Aviator may have caught our attention, it wasn't the most popular vehicle debut from New York, at least when judging by the number of page views here on Autoblog. That distinction goes to the 2019 Toyota RAV4, and we're hardly surprised. The RAV4 is the most popular compact crossover in America (in fact it's the most popular vehicle that isn't a pickup truck), and the 2019 version looks like a radical departure from the model that came before. We can't wait to drive the thing. Midsize sedans may not be the darling of the family car set, that honor taken over by the aforementioned crossover, but they still sell in large enough numbers that a brand-new model catches our attention. Such is the case with the 2019 Nissan Altima. We broke down the specs of the Altima and compared Nissan's bread-and-butter sedan with its biggest rivals. And finally, we got some official figures for the 2019 Ford Mustang Bullitt. It'll cost a cool $12,000 over the cost of a Mustang GT, and will benefit from a 480-horsepower, 420-pound-foot version of Ford's excellent 5.0-liter V8 engine. As always, stay tuned this week for all the latest automotive news that's fit to print. 2018 New York Auto Show Mega Photo Gallery | Start spreading the news 2019 Toyota RAV4 actually looks pretty cool 2019 Nissan Altima vs Honda Accord vs Toyota Camry: How they compare 2019 Mustang Bullitt orders open as Ford reveals price and horsepower Image Credit: Drew Angerer/Getty New York Auto Show Ford Lincoln Nissan Toyota Coupe Crossover SUV Sedan 2018 new york auto show

Ford faces class-action lawsuit for selling vehicles without brake override systems

A total of 20 Ford customers are suing the automaker in a class-action lawsuit for selling vehicles "vulnerable to unintended acceleration." According to Reuters, the suit names 30 models built between 2002 and 2010 with electronic throttle control systems but without a brake override system. Those include the 2004-2012 F-Series pickups and the 2005-2009 Lincoln Town Car. Adam Levitt, a partner with the law firm of Grant & Eisenhofer says the plaintiffs in the case want "to be compensated for their economic losses by having overpaid for cars that contained defects." Levitt contends that the plaintiffs would not have bought their vehicles or paid less for them had they known there was no brake override system in place.
Ford began installing brake override systems in its vehicles beginning in 2010. In response to the lawsuit, Ford has pointed to research by the National Highway Traffic Safety Administration that indicated that unintended acceleration is mostly caused by driver error, saying in a statement that, "NHTSA's work is far more scientific and trustworthy than work done by personal injury lawyers and their paid experts."
Belville et al v. Ford Motor Co. will be heard in US District Court in the Southern District of West Virginia.