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Ford Q3 pretax profits drop to $1.18B

Following positive third quarter financial results recently from General Motors, rival Ford took a tumble in Q3. The automaker posted pre-tax profits of $1.18 billion, compared to about $2.59 billion in Q3 2013, a drop of around 54 percent. Net income also suffered with $835 million made in the quarter, versus $1.272 billion last year, a decline of about 34 percent. The Blue Oval blamed the gloomy figures on three reasons in its release: "lower volume, higher warranty costs and adverse balance sheet exchange effects."
There were problems of one kind or another in practically every region. North America experienced higher warranty costs than expected, partially due to recalls. The sales volume for the quarter was 665,000 units, versus 725,000 in Q3 2013, and pre-tax results amounted to $1.41 billion versus $2.296 billion last year.
South America and Europe both posted worse pre-tax results than last year. On the bright side, European volume was up slightly to 321,000 vehicles, from 303,000 in Q3 2013. The Middle East and Africa also lost $15 million, but that was an improvement compared to the $25 million loss previously experienced in this region.

2016 Ford Explorer order guide revealed

The configurator for the refreshed 2016 Ford Explorer is already up and running. However, if you're the type of person that really likes to dig into the nitty-gritty of a vehicle's features, then the order guide for this latest Ford is now available (pictured right). While the documents don't list fuel economy, engine power or pricing, they give a precise idea of all of the differences separating each of the five trim levels: Base, XLT, Limited, Sport and Platinum. In addition to the tweaked styling across the board, even the Base model now features a rearview camera with a washer. There are also three new colors available: Shadow Black, Blue Jeans Metallic and Guard Metallic. Base, XLT and Limited trims are available with either a 3.5-liter V6 or new, optional 2.3-liter EcoBoost four-cylinder. All of them are mated to a six-speed automatic, and all-wheel drive is optional with either engine. The new Platinum trim basically loads the Explorer up with everything imaginable. Power comes from the 3.5-liter EcoBoost V6, matched with all-wheel drive. Plus, the Platinum trim gets standard luxuries like a dual-pane moonroof, adaptive cruise control, a premium sound system and Ford's super-soft Nirvana Leather covering the seats. There are also some new tech features throughout the rest of the lineup. For example, an updated auto-parking system is also available on the Limited but comes standard on the Platinum. Furthermore, a 180-degree front camera and second-row USB charging are optional on the Sport but are standard on the Limited and Platinum. Check out the gallery for even more of the changes. Featured Gallery 2016 Ford Explorer View 30 Photos Related Gallery 2016 Ford Explorer Order Guide View 20 Photos News Source: FordTip: P Design/Style Ford Car Buying SUV order guide

UK's Loughborough University improving Ford's 1.0-litre EcoBoost engine

How much does it cost for college students to study zero emissions vehicles? At Loughborough University in the UK, a new Advanced Propulsion Centre (APC) is being built at a cost of a billion pounds ($1.7 billion US). The school has just announce that it will fund a number of grad student positions and is creating a new Chair in Advanced Propulsion Systems, which sounds like a fun job to us. We're weird like that. There will be a total of four professor-type positions in the new Center, including the chair, all focused on teaching students about low-carbon vehicle technologies, specifically electric and hybrid ones. The school is investing 1.5 million pounds ($2.5 million) for the new positions. There is a bigger picture as well, a 26-million pound ($44 million) Advanced Combustion Turbocharged Integrated Variable-valvetrain Engine (ACTIVE) project, which uses funds not only from the school but also from Ford and others. The point of ACTIVE is to study Ford's 1.0-liter EcoBoost engine and "improve further its efficiency and ensure it exceeds 2020 emission regulations." This is already a popular engine for the automaker, and it will need to stay at the bleeding edge of efficiency to remain as important in 2020 as it is today. Loughborough University has been working with automakers on advanced energy technologies for years, for example with Rolls-Royce and fuel cells in 2007 and the Lotus Hotfire engine in 2008. University invests GBP1.5M in advanced propulsion research to advance zero emissions vehicles challenge Loughborough University is investing GBP1.5M over five years in strategic research appointments, inspired by the global challenge to develop the new advanced propulsion technologies required for the move to zero emission vehicles. These appointments reinforce the University's world-class research in low-carbon vehicle technologies, adding new dimensions concerned with electric and hybrid drives. Four appointments will be made, including a Chair in Advanced Propulsion Systems, supported by a number of PhD studentships. The GBP1.5M investment is part of the University's commitment to the recently announced Advanced Propulsion Centre (APC) to support the development of new supply chains for low carbon vehicles. APC is an initiative established by the Automotive Council that will see GBP1 billion of investment from government and industry over the next 10 years.