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Ford posts decade-best $2.1B profit in Q1 2013

As predicted, Ford has reported that its first quarter of 2013 was a resounding success overall, with a pretax profit of $2.1 billion ($0.41 per share), and a net income of $1.6 billion ($0.40 per share). In fact, Ford made a pretax profit of some $2.4 billion in its home North American market, with that total number being pulled down by losses in South America and Europe. That gaudy North American profit is the strongest result by the automaker since 2000.
Ford's companywide profit for Q1 was down $147 million from one year ago, while the net income number marked an increase of $215 million year over year. Overall, this is Ford's 15th-consecutive profitable quarter.
The bad news from the European market was even worst in Q1 2013 than it was last year. Pretax losses of $462 million - on revenue of $6.7 billion - represented a year-over-year change of -$313 million. In South American, the company reported a loss of $218 million, down from a slim profit of $54 million in Q1 2012. The news was better for Ford Asia Pacific Africa, where a $6 million pretax profit in 2013 showed a year-over-year gain of some $101 million when compared to losses in 2012. Scroll down to read Ford's full press release.

Project Ugly Horse alive and kicking at Road & Track

The hallways of the Autoblog campus are much quieter now that Zach Bowman has taken his prose, along with his welders, wrenches and hammers, over to the digital pages of Road & Track, but that doesn't mean our favorite project Mustang is gone forever. Project Ugly Horse is still coming along, and Zach has gifted us another update on his unfoxy Fox Body.
Last we saw of the Ugly Horse, Zach was strengthening up the '89 Mustang's chassis as he prepares to stuff the turbocharged, direct-injected EcoBoost engine of a Ford Focus ST under the hood. First things first, the old mill must go. Head on over to Road & Track to catch the latest chapter of Project Ugly Horse.

Lexus gets top brand marks from Consumer Reports; Ford, Jeep hit hard

Consumer Reports has released its 2014 Car Brand Report Cards, with Lexus again reigning at the top and doing so with the same industry-topping score of 79 that it registered in last year's Report Cards. This year, the institute credited its lineup for being "usually quiet, comfortable, and fuel-efficient," noting it's the only brand on the list "to achieve an excellent average overall reliability score." The Car Brand Report Cars list is meant to rank the best all-around vehicles based on CR testing and reliability results tallied by subscribers it surveyed. Each brand included must have sufficient test and reliability data for at least three models, a standard which left out 11 marques including Fiat, Jaguar, Land Rover and Porsche.
This 2014 Brand Report Cars edition is the first of a new format in which sub-brands have been broken out from their parent brands, with Acura using this year to move up the leaderboard into second place with a score of 75 for its "reliable, well-finished and somewhat sporty models." The top three was rounded out by Audi, climbing from eighth to third by scoring a 74 for "well-crafted interiors, nice handling and good gas mileage." Audi scored highest in the road-test portion, its improved reliability aiding its rise. The top nine was completed by Subaru, Toyota, Mazda, Honda, Infiniti and Mercedes-Benz.
Ford and Jeep weighed in at the other end of the rankings, Jeep taking the lowest overall score in the road tests and hampered by "a mix of spotty reliability." Ford was sunk by reliability issues with its MyFord Touch infotainment system which consumers found troublesome enough to negate its cars earning "solid test scores" for being "very nice to drive." Perhaps the rumored switch from Microsoft to Blackberry's QNX for the next generation SYNC will help them out. Cadillac's score also took a hit for infotainment reasons after it was the leading US brand last year, the CUE system in the XTS dragging Cadillac to the bottom of all General Motors brands.