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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.

Ford unveils Mustang 50th anniversary logo, plans merchandise

The Ford Mustang turns 50 years old this year, and this is the logo that will announce the milestone occasion on a special line of merchandise. The graphic is the result of an internal design competition, and Ford will give 50 different companies the license to use it on traditional logo merchandise like shirts and watches, along with some untraditional items like pinball machines.
Ford is going to begin the celebrations at this week's New York Auto Show and continue them throughout the year, but April 17 is the official birthday of the the pony car that just won't quit. You can expect to start seeing anniversary merchandise in the next couple of weeks.

Weekly Recap: Jaguar takes a leap with price cut, new strategy

Jaguar was one of the famous automotive props and plotlines in the now-iconic drama Mad Men. There's a scene where the show's protagonist, Don Draper, deftly undercuts an influential Jaguar dealer by indicating that get-me-in-the-door local radio spots would be an effective way to sell cars like the slinky E-Type. The British executives think this is folly – Draper knows they will – and his advertising strategy wins out over the dealer's approach to move the metal. Jaguar's not doing that, but half a century later in the real world the company is launching plans to make its cars more attainable to new and younger customers like Millenials. These aren't coupons, but this is a leap for Jaguar, which has long banked on sexy styling and its rich motorsports history to overshadow its past mechanical flaws. Put simply, Jaguar is addressing the reasons why people, especially the younger set, don't buy its cars. The 2017 XE will start at $35,895 when it launches next spring – which makes it an attractive buy for a successful, relatively young person. When it's time to move up, the redesigned XF will be more attainable, coming in at $52,895, which is $5,275 less than the 2015 model. The flagship XJ sedan and the enthusiast-oriented F-Type sports car will also get thousands of dollars worth of added standard features, and Jag is actively pitching them as a better value than their competitors. "The Jaguar brand is on the eve of a major transformation that will see it dramatically increase its presence in the United States luxury marketplace with an expanded lineup, pricing focused on the core of the luxury market, and an all-new ownership package with best-in-class coverage," Joe Eberhardt, CEO of Jaguar Land Rover North America, said in a statement. The brand's quality and reliability dings have also lurked in the back of buyers' minds for decades, though that's an outdated notion. Jaguar placed third in J.D. Power's Initial Quality Study in June and was the top-ranked luxury brand in J.D. Power's Customer Service Index in March. Not content, the company is rolling out an enhanced program called Jaguar EliteCare that launches on 2016 models. It offers a five-year, 60,000-mile limited warranty, the longest among its competitors, with free scheduled maintenance during that period. The plan also covers roadside assistance and connectivity features.