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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.

How Ford made its 2015 Ford Mustang safer for toupee wearers [w/video]

Ford is ready to tell the story of its 2015 Mustang Convertible, the can't-miss bits being the easier, quicker and quieter roof operation, a more robust roof build for a coupe-like cabin noise, more trunk space, better visibility and reduced in-cabin buffeting. The top release system has been completely redesigned with a single, center-mounted latch on the windshield frame instead of the dual latches of before. The driver can now release the roof without having to lean over into the passenger space, after which the top goes down fully automatically with the press of a button. Ford doesn't say how long it takes to stow, but it's apparently done in half as much time as before, so figure around 8 seconds.
The roof uses a five-bow structure, with the fabric outer and full inner headliner sandwiching ten millimeters of insulation. Detailing work on the top has eliminated "unsightly folds" in the corners when the roof is up and made it more compact when down; its Z-fold assembly is 6.7 inches lower than before at its highest point when put down. Ford says the new electric drive internals make less noise when in operation, and the fully-finished droptop look is achieved with snap-in caps that flank the rear seating and stow in the trunk when not in use (the outgoing Mustang's top was higher and the front when folded and always looked like it was catching air and creating drag).
The compact roof and newly independent rear suspension setup in back means liberated trunk space, 11.4 cubic feet ready to swallow golf bags and tourist swag. You can read a lot more about it in the press release below, check it out in the short video of running footage and learn about the aerodynamic improvements made to the entire Mustang lineup that decrease drag and increase fuel economy.

2015 Ford F-150 enters production

Ford has given the F-150 a dramatic makeover for 2015, switching to an aluminum body that helps reduce weight by about 700 pounds. Because the truck is dramatically different, Ford also had to change the way it makes the F-150, so we went inside its sprawling factory in Dearborn, MI, this week to see the Blue Oval's new manufacturing techniques in action.
The company has added 850 jobs at the site and upgraded its stamping and tool and die facilities. The body shop is also modernized, and it has been fitted with 500 new robots that join the structures together. The first 2015 F-150 rolled off the line on Tuesday, and the trucks will begin arriving in dealerships in December. Get a closer look at the F-150's unique assembly process in our video.