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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.

For EV drivers, realities may dampen the electric elation

The Atlantic, a decades-old monthly journal well-regarded for its intelligent essays on international news, American politics and cultural happenings, recently turned its attention to the car world. A piece that ran in The Atlantic in October examined the excesses of the GMC Hummer EV for compromising safety. And now in its latest edition, the magazine ran a compelling story about the challenges of driving an electric vehicle and how those experiences “mythologize the car as the great equalizer.” Titled “The Inconvenient Truth About Electric Vehicles,” the story addresses the economics of EVs, the stresses related to range anxiety, the social effects of owning an electric car — as in, affording one — and the overarching need for places to recharge that car. Basically, author Andrew Moseman says that EV life isn't so rosy: “On the eve of the long-promised electric-vehicle revolution, the myth is due for an update. Americans who take the plunge and buy their first EV will find a lot to love Â… they may also find that electric-vehicle ownership upends notions about driving, cost, and freedom, including how much car your money can buy. "No one spends an extra $5,000 to get a bigger gas tank in a Honda Civic, but with an EV, economic status is suddenly more connected to how much of the world you get to see — and how stressed out or annoyed youÂ’ll feel along the way.” Moseman charts how a basic Ford F-150 Lightning electric truck might start at $55,000, but an extended-range battery, which stretches the distance on a charge from 230 miles to 320, “raises the cost to at least $80,000. The trend holds true with all-electric brands such as Tesla, Rivian, and Lucid, and for many electric offerings from legacy automakers. The bigger battery option can add a four- or five-figure bump to an already accelerating sticker price.” As for the charging issue, the author details his anxiety driving a Telsa in Death Valley, with no charging stations in sight. “For those who never leave the comfort of the city, these concerns sound negligible," he says. "But so many of us want our cars to do everything, go everywhere, ferry us to the boundless life we imagine (or the one weÂ’re promised in car commercials),” he writes. His conclusions may raise some hackles among those of us who value automotive independence — not to mention fun — over practicalities.

Ken Block is at it again in Gymkhana 6

If there's one thing we'll say about Ken Block and his latest installment in the Gymkhana family, it's that it's far more structured than previous videos, but that doesn't mean it skimps on the entertainment. Block is on a purpose-built course which was touted as "The... Ultimate... Gymkhana... Grid... Course" in last week's preview. Unlike Gymkhana 5, which took placed on closed streets in San Francisco, this course seems much more compact.
Block has an entire array of challenges to tackle in his 650-horsepower Ford Fiesta ST, and none of them look particularly easy. In fact, we'd argue that Gymkhana 6's grid course requires much more precise driving that previous titles. There are Segways, Lamborghinis and massive pieces of construction equipment that all must be dealt with.
We've got the entire 6:28 of Gymkhana madness for you down below. Scroll down for the video and then hit Comments and let us know how this installment compares to previous Block works.