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Ford surges with record 2Q profit

We already knew that the second quarter of 2015 has been good to General Motors. For Ford, though, it's been even better. The Blue Oval saw a net income of $1.9 billion, $800 million more than its larger cross-town rival. Pre-tax profits were even more impressive, at $2.9B. Those figures aren't only more impressive than what GM could conjure up, they improved handily over the same period in 2014. Net profits were up by $574 million, or a staggering 44 percent, while pre-tax profits saw a 10-percent bump over 2014. Ford Credit also had a strong quarter, raking in just over half a billion dollars before taxes. So yeah, Ford calling Q2 "outstanding" in its press release is no exaggeration. The vast majority of Ford's positive Q2 can be attributed to the North American market, which made up $2.6 billion of the company's pre-tax profits. South America, the Middle East, and Europe were all down, although Asia delivered some relief, making $192 million before taxes. Scroll down for the official press brief from Ford. JUL 28, 2015 | DEARBORN, MICH. FORD REPORTS STRONG SECOND QUARTER RESULTS; PRE-TAX PROFIT $2.9 BILLION; NET INCOME $1.9 BILLION DEARBORN, Mich., July 28, 2015 – Ford Motor Company [NYSE: Ford] today reported its 2015 second quarter financial results. View the press release here and visit shareholder.ford.com to view the slide presentation and access the webcast to Ford's second quarter earnings call, which begins at 9 a.m. EDT with Mark Fields, president and chief executive officer, and Bob Shanks, executive vice president and chief financial officer. Highlights Include: Outstanding second quarter; company on track for a breakthrough year Pre-tax profit of $2.9B, up $269M or 10 percent from a year ago excluding last year's special item charges Net income of $1.9B, up $574M or 44 percent from a year ago After-tax earnings per share of 47 cents, up 7 cents from a year ago excluding last year's special item charges Best Automotive quarterly profit since 2000 Wholesale volume up 2 percent, driven by North America and Europe Automotive revenue about equal, with higher net pricing and volume offset by unfavorable translation effects of the strong U.S.

Did a US automaker blow the whistle on Hyundai, Kia fuel economy issue?

In all of the most hotly contested mainstream segments of the motoring universe, the difference of one mile per gallon averaged on a widow sticker can mean the difference between a sale and a walk-off - to say nothing of two or three mpg. So, when Hyundai and Kia were forced to reveal that many of their 40-mpg ratings were actually 38s and 37s, well, it made for big news.
It also, conceivably, made for a competitive disadvantage immediately, when the Korean automakers' products were being shopped versus the guys down the block. And it's that disadvantage that makes a recent story from Automotive News so juicy.
AN is reporting that Margo Oge, former head of the Environmental Protection Agency's Office of Transportation and Air Quality, got a tip in 2010 that Hyundai/Kia were "cheating" to get its impressive fuel economy numbers. The tip, said Oge (who retired from the EPA this past September), came from a senior vice president from a domestic automaker. The source was credible enough for Oge to launch an audit of the Hyundai figures, which ultimately lead to the debacle that we reported on a few months ago, and that the Korean company has been trying to bounce back from ever since.

Big electric trucks won't save the planet, says the NYT

When The New York Times decides that an issue is an issue, be prepared to read about it at length. Rarely will a week passes these days when the esteemed news organization doesn’t examine the realities, myths and alleged benefits and drawbacks of electric vehicles, and even The Atlantic joins in sometimes. That revolution, marked by changes in manufacturing, consumer habits and social “consciousness,” may in fact be upon us. Or it may not. Nonetheless, the newspaper appears committed to presenting to the public these pros and cons. In this recently published article titled, “Just How Good for the Planet Is That Big Electric Pickup Truck?”—wow, thatÂ’s a mouthful — the Times focuses on the “bigness” of the current and pending crop of EVs, and how that impacts or will impact the environment and road safety. This is not what news organizations these days are fond of calling “breaking news.” In October, we pointed to an essay in The Atlantic that covered pretty much the same ground, and focused on the Hummer as one particular villain, In the paper and online on Feb. 18, the Times' Elana Shao observes how “swapping a gas pickup truck for a similar electric one can produce significant emissions savings.” She goes on: “Take the Ford F-150 pickup truck compared with the electric F-150 Lightning. The electric versions are responsible for up to 50 percent less greenhouse gas emissions per mile.” But she right away flips the argument, noting the heavier electric pickup trucks “often require bigger batteries and more electricity to charge, so they end up being responsible for more emissions than other smaller EVs. Taking into consideration the life cycle emissions per mile, they end up just as polluting as some smaller gas-burning cars.” Certainly, itÂ’s been drummed into our heads that electric cars donÂ’t run on air and water but on electricity that costs money, and that the public will be dealing with “the shift toward electric SUVs, pickup trucks and crossover vehicles, with some analysts estimating that SUVs, pickup trucks and vans could make up 78 percent of vehicle sales by 2025." No-brainer alert: Big vehicles cost more to charge. And then thereÂ’s the safety question, which was cogently addressed in the Atlantic story. Here Shao reiterates data documenting the increased risks of injuries and deaths caused by larger, heavier vehicles.