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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 Police Interceptor with 2.0L EcoBoost rated most fuel-efficient police sedan

Back in September, Ford announced a non-pursuit version of its Police Interceptor Sedan, which swaps out a choice of two V6 engines for a fuel-efficient 2.0-liter EcoBoost inline four-cylinder. This Special Service Police Sedan will be marketed to law enforcement agencies looking to cut fuel costs and don't need the extra power.
For college campuses, detectives and the like, this new police car has now been certified with EPA fuel economy estimates of 20 miles per gallon in the city, 32 mpg on the highway and a combined rating of 24 mpg. These figures represent a decrease of two mpg in city and combined ratings compared to the civilian-spec 2014 Taurus. These police cars still offer active grille shutters for better aerodynamics, although we're guessing agencies upfitting their cars with light bars and push bumpers aren't exactly concerted with aerodynamics. The true benefit of the SSP version is when it's compared against other police sedan options like the Dodge Charger, Chevy Impala, Chevy Caprice and even the V6 Police Interceptor Sedan.
Ford claims the new Police Interceptor Sedan SSP is the most fuel-efficient current option for police departments, saying that this car can save $1,720 per car over three years and almost $260,000 over the same span of time for fleets with 150 vehicles. There is an official press release posted below, and also check out the gallery of images from Ford collected from various police agencies across the US (although none show the 2.0-liter SSP model). Head on over to Ford's Police Interceptor mini-site for even more pictures of the Police Interceptor Sedan and Utility.

2014 Ford Fiesta 1.0L EcoBoost to hit 45 mpg for $16,445*

When Ford first announced its plan to put the 1.0-liter EcoBoost three-cylinder engine under the hood of the 2014 Fiesta, it promised hybrid-like fuel economy without a hybrid-like premium. We're still waiting for official specs on this engine, but thanks to the EPA's fueleconomy.gov website and Ford's retail site, we now know what customers can expect in terms of both fuel economy and price.
All along, Ford has said that it expects the 1.0-liter EcoBoost to get more than 40 miles per gallon on the highway, and now the EPA backs this up with official ratings of 32 mpg in the city and 45 mpg on the highway. These numbers are an increase of two mpg city and four mpg hwy compared to the current fuel-sipping Fiesta (the 1.6 SFE), and it also beats other three-cylinder cars for highway mileage like the 2014 Mitsubishi Mirage (44 mpg highway) and 2014 Smart Fortwo (38 mpg highway); the Fiesta 1.0 EcoBoost is lower than both three-pot rivals, though, in city fuel economy with the Mitsubishi getting 37 mpg city and the Smart rated at 34 mpg city. This model handily beats high-volume small cars like the Honda Fit, Toyota Yaris and Chevy Spark in both city and highway numbers.
As for pricing, the 1.0-liter EcoBoost is offered on both the sedan and hatchback as a $995 option called the SE Manual EcoBoost package, which is aptly named since it's only offered on SE trim-level Fiestas equipped with a manual transmission. Along with the engine, the package also comes with 15-inch steel wheels, regenerative brakes and a decklid spoiler on the sedan. This means the four-door Fiesta 1.0 EcoBoost will start at $16,445*, or $17,045* for the hatchback (*not including $795 for destination).