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Ford books $1.2B profit in second quarter on strength of trucks

Ford is rolling along nicely, with a positive second-quarter sales report and a $2.3 billion profit in North America. The Dearborn, Michigan-based manufacturer captured $1.2 billion globally from April to June, with a $177 million profit in Asia. Even in Europe, the land of doom and gloom for automakers not named Mazda, Ford saw some success as it lowered its expected full-year loss from $2 billion to $1.8 billion. The company lost $348 million in Europe during the second quarter, which, believe it or not, represents a $56-million improvement over 2012.
According to the report on CNBC, Ford enjoyed a three-percent increase in pre-market trading thanks to the news. The strong demand for the F-150 propelled growth in the US market, while Ford's 47-percent increase in Asian sales can be attributed to the new EcoSport crossover and Kuga (Ford Escape in the US) arriving in the somewhat fragile Chinese market.
Pre-tax profits for Ford are expected to be in the neighborhood of $8 billion by the end of the year, with sales the US, Europe, and China all looking up. The company also shifted $4.78 billion of asset-backed debt in the form of bonds, according to a report by Bloomberg. This move came amidst rumors of the Federal Reserve cutting back on its $85-billion-per-month bond purchases. Ford wasn't alone among automakers looking to sell off debt, though, as Mercedes-Benz and Nissan shifted around $1 billion each in bonds relating to auto loans.

Ford, Volvo join Redwood in EV battery recycling push in California

Ford and Volvo will join battery recycling startup Redwood Materials in developing processes, starting in California, to collect end-of-life batteries from electric and hybrid vehicles and recover the materials for use in new batteries, the companies said Thursday. Redwood Materials, co-founded by former Tesla executive JB Straubel, formed an earlier partnership last fall with Ford to develop a “closed loop” or circular supply chain for electric vehicle (EV) batteries, from raw materials to recycling. On Thursday, Redwood Materials said it would work directly with dealers and dismantlers in California to identify and recover end-of-life battery packs. The materials in those packs will be recovered and recycled at Redwood Materials facilities in northern Nevada. U.S. automakers Ford and General Motors Co (GM) have said the battery recycling effort is crucial in efforts to develop a domestic supply chain to meet increasing EV demand. GM and battery partner LG Energy Solution last year announced a partnership with startup Li-Cycle to recycle battery scrap material from Ultium Cells, the GM-LG joint venture that is building battery plants in Ohio, Tennessee and Michigan. Redwood Materials has similar partnerships with battery makers Panasonic in Nevada and Envision AESC in Tennessee, as well as with Amazon. Ford and Amazon are among the investors in Redwood Materials. Reporting by Paul Lienert in Detroit; Editing by Mark Potter Green Ford Volvo Green Automakers Electric

Ford exec reveals new F-150 Raptor packs 450 horsepower

Between the new GT supercar, Shelby GT350R muscle car and F-150 Raptor off-roader, Ford had quite the array of performance machinery on display at the Detroit Auto Show earlier this month. One thing it didn't reveal about any of the three, however, is how much power they'd pack, but a senior executive at the Blue Oval automaker has reportedly let the cat out of the bag when it comes to the Raptor. During a televised interview during the Rolex 24 at Daytona this past weekend, Ford's product development chief Raj Nair is said to have revealed that the new F-150 Raptor will offer 450 horsepower. That's pretty impressive from a 3.5-liter turbocharged V6, and would put the new Raptor out ahead of the 411 hp produced by the 6.2-liter naturally aspirated V8 in the previous SVT Raptor. That doesn't give us the whole picture, though, because in a vehicle this big especially, torque will play a huge factor. The outgoing Raptor offered 424 pound-feet of twist, and the existing 3.5-liter EcoBoost engine is already producing 420 lb-ft – so it seems fairly safe to assume the new Raptor will eclipse those figures as well, but we'll have to wait for official word to find out for sure. Related Video: