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Ford books $2.6B pretax quarterly profit

While its crosstown competitors at General Motors are smarting over a drastic drop in net income to $200 million in the second quarter, Ford has reason to celebrate. The Blue Oval has announced its own Q2 financial results, including a growing net income of $1.3 billion, a $78 million increase over last year. Pretax profits for the company reached $2.6 billion, up $44 million from 2013, but total revenue dropped slightly to $37.4 billion, down from $37.9 billion. Profits per share before one-time charges totaled 40 cents per share, beating Wall Street analysts' expectations of 36 cents a share.
Regionally, the Blue Oval performed strongly, as well. North America posted a record quarterly pre-tax profit of $2.4 billion, a $119 million increase. Europe also showed signs of turn around with its first profit in three years of $14 million after a loss of $306 million in Q2 2013. Ford is actually predicting profitability in the troubled region in 2015. Asia Pacific operations also performed well with $159 million in profits, up $29 million from last year. The only region where the business posted a loss was South America.
According to Automotive News, Ford also announced more precise plans about the changeover to build the aluminum-intensive 2015 F-150. In August, the Dearborn plant will shutdown for eight weeks to retool and its Kansas City plant will do the same next year.

Weekly Recap: Auto execs face life in prison for recall delays under proposed legislation

The stiff punishments are part of broader transportation legislation, but clearly McCaskill has automakers in her sights.
Missouri Senator Claire McCaskill threw down the gauntlet this week, proposing a bill that could send auto executives to prison for life if they were found to have delayed a recall. She also wants to eliminate the limit for fines for auto safety violations, which are currently capped at $35 million.

All the details on Plug In 2014 electric vehicle conference you could ever want

One of the best parts of the Plug In 2014 Conference in San Jose, CA last week was getting to listen in on thoughts about the state of the plug-in vehicle industry from people who have been involved with it for ages. They bristle when you call them the "Old Guard" (learned that one the hard way), but these are the people who have been through a number of ups and downs with plug-in vehicles, so they've got what we call perspective. Their knowledge was on full display in the three plenary sessions, which the Plug In Conference organizers have given us permission to share with you. Each is at least 90 minutes long, so make sure to set some time aside to enjoy the discussions after you download them (any help with making them streamable would be appreciated). Follow us below to see what we've got to offer. Opening Plenary (audio link). "The Road Ahead – Delivering on a Vision for Sustainable Transportation." Moderated by Mark Duvall (director of energy utilization at EPRI, the Electric Power Research Institute, and a long-time EV advocate), this panel featured: Jack Broadbent, Executive Officer / APCO, Bay Area Air Quality Management District Pat Romano, President & Chief Executive Officer, ChargePoint, Inc. Aaron Johnson, Senior Director, Customer Programs, Pacific Gas and Electric Company Brendan Jones, Director, EV Sales Operations & Infrastructure Deployment, Nissan North America, Inc. David W. Cash, Commissioner, MassDEP Dan Sperling, Director, Institute of Transportation Studies, University of California, Davis Highlights: Educating drivers to "get over the gas station" is a key strategy, how Level 2 and DC Fast Charging are really "a new paradigm," that there have been well over 214,000 EVs sold in US as of July 2014 and where Nissan sees huge potential for more EV sales (Northeast US and medium-size cities like St. Louis and Pittsburgh). Wednesday Morning Plenary (audio link). "Getting to the Mass Market – A Discussion of Ideas for Widespread PEV Adoption." Moderated by John Gartner, research director for smart transportation at Navigant Research.