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Ford Q1 profits dragged down by warranty costs

General Motors isn't the only Detroit automaker posting falling profits in the first quarter. Ford just released its Q1 2014 financial data, and it reported a net income of $989 million, down $622 million from Q1 2013. The drop is partially blamed on higher warranty and recall expenses than the company had anticipated.
Financially, Ford suffered a rough quarter almost across the board. Its pre-tax profit of $1.4 billion was also down $765 million from a year ago. Things were even worse in the North American market where operating profit fell significantly to $1.5 billion, down from $2.392 billion in Q1 2013. However, its global revenue ticked up slightly to $35.9 billion, from $35.6 billion in this period in 2013.
Ford admitted that it spent about $900 million on expenses that it hadn't planned for during this quarter. According to Reuters, the company paid about $400 million in additional warranty and recall costs in North America. The automaker didn't explain why the costs were so much higher than expected. However, in the last three months, Ford has had several recalls, including on the 2001-2004 Escape for rust, Explorer for its steering, Edge for its fuel line and others.

Ford Police Interceptor with 2.0L EcoBoost rated most fuel-efficient police sedan

Back in September, Ford announced a non-pursuit version of its Police Interceptor Sedan, which swaps out a choice of two V6 engines for a fuel-efficient 2.0-liter EcoBoost inline four-cylinder. This Special Service Police Sedan will be marketed to law enforcement agencies looking to cut fuel costs and don't need the extra power.
For college campuses, detectives and the like, this new police car has now been certified with EPA fuel economy estimates of 20 miles per gallon in the city, 32 mpg on the highway and a combined rating of 24 mpg. These figures represent a decrease of two mpg in city and combined ratings compared to the civilian-spec 2014 Taurus. These police cars still offer active grille shutters for better aerodynamics, although we're guessing agencies upfitting their cars with light bars and push bumpers aren't exactly concerted with aerodynamics. The true benefit of the SSP version is when it's compared against other police sedan options like the Dodge Charger, Chevy Impala, Chevy Caprice and even the V6 Police Interceptor Sedan.
Ford claims the new Police Interceptor Sedan SSP is the most fuel-efficient current option for police departments, saying that this car can save $1,720 per car over three years and almost $260,000 over the same span of time for fleets with 150 vehicles. There is an official press release posted below, and also check out the gallery of images from Ford collected from various police agencies across the US (although none show the 2.0-liter SSP model). Head on over to Ford's Police Interceptor mini-site for even more pictures of the Police Interceptor Sedan and Utility.

Ford reports 58% drop in Q2 profits on European losses

Ford Motor Company announced Wednesday that it has posted a $1 billion profit for the second quarter of 2012. That sounds like good news for the Blue Oval, until you take into account that Ford posted a $2.4 billion profit for Q2 a year ago. That is a substantial 58 percent loss.
Ford also posted $465 million in international losses, with $404 million of those losses coming directly from Europe. The automaker also increased its European loss projections to $1 billion for 2012, due in large part to the economic crisis overseas, which has resulted in increased unemployment and decreased consumer confidence.