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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.

8 automakers, 15 utilities collaborate on open smart-charging for EVs

We're going to lead with General Motors here. GM is one of eight automakers working with 15 utilities and the Electric Power Research Institute (EPRI) at developing a "smart" plug-in vehicle charging system. Why did we start with GM? Because it's the first automaker whose press release we read that mentioned the other seven automakers. Points for sharing. For the record, the collaboration also includes BMW, Toyota, Mercedes-Benz, Honda, Chrysler, Mitsubishi and Ford. The utilities include DTE Energy, Duke Energy, Southern California Edison and Pacific Gas & Electric. The idea is to develop a so-called "demand charging" system in which an integrated system lets the plug-ins and utilities communicate with each other so that vehicle charging is cut back at peak hours, when energy is most expensive, and ramped up when the rates drop. Such entities say there's a sense of urgency to develop such a system because the number of plug-in vehicles on US roads totals more than 225,000 today and is climbing steadily. There's a lot of technology involved, obviously, but the goal is to have an open platform that's compatible with virtually any automaker's plug-in vehicle. No timeframe was disclosed for when such a system could go live but you can find a press release from EPRI below. EPRI, Utilities, Auto Manufacturers to Create an Open Grid Integration Platform for Plug-in Electric Vehicles PALO ALTO, Calif. (July 29, 2014) – The Electric Power Research Institute, 8 automakers and 15 utilities are working to develop and demonstrate an open platform that would integrate plug-in electric vehicles (PEV) with smart grid technologies enabling utilities to support PEV charging regardless of location. The platform will allow manufacturers to offer a customer-friendly interface through which PEV drivers can more easily participate in utility PEV programs, such as rates for off-peak or nighttime charging. The portal for the system would be a utility's communications system and an electric vehicle's telematics system. As the electric grid evolves with smarter functionality, electric vehicles can serve as a distributed energy resource to support grid reliability, stability and efficiency. With more than 225,000 plug-in vehicles on U.S. roads -- and their numbers growing -- they are likely to play a significant role in electricity demand side management.

Jay Leno is far beyond driven in his 1971 Pantera

Perhaps it's fitting that the band Pantera is known for its heavy metal music, because the DeTomaso Pantera is the automotive equivalent of a metal album. It's short, aggressive and makes a mean sound. It doesn't mess around either, with a Ford 351-cubic-inch (5.75-liter) V8 sending mountains of torque to the rear wheels. This week, Jay Leno takes us on a detailed tour of his '71 to show why it rocks.
There's a regular format to Jay Leno's Garage. It starts with Jay and maybe a guest taking a look at the car and talking about its history, and then they take it out on the open road. However, this video is practically a Pantera buyer's guide. Jay is adamant from the start that the last thing anyone should own is a stock example. To remedy this, he and his guest, the editor of the Pantera Club magazine, take viewers to school about some of the ways to turn them into even better performance machines.
No matter what you do to it, though, the Pantera requires that the driver adapt to it, not the other way around. For example, Jay isn't a big guy by most standards, but he has to cram himself into the cockpit with his shoes off and shirt partially unbuttoned just to go for a drive. Still, once out on the road, it all makes sense with that rumbling V8 and those Italian supercar looks. Scroll down to watch and learn a lot more about this uncompromising '70s performance car.