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Mulally will stay close to Ford after he steps down, plans to advise Fields [w/video]

Ford CEO Alan Mulally has less than a week left in his role of leading the Blue Oval before he hands off duties to Mark Fields on July 1. It doesn't look like Mulally is going to be shuffling off into his retirement anytime soon, though. The 68-year-old is being rather secretive about his next move, but he tells Bloomberg in a recent interview that he plans to stay close to Ford. Also, if Fields wants to ask for any advice, Mulally is happy to help.
Mulally took over at Ford in 2006 and led the company through a seriously rough patch in the auto industry. According to Bloomberg, he became famous or his Thursday meetings where executives were forced to deal with any problems before they could leave. Since announcing his retirement from Ford in May, Mulally has been insuring a smooth transition of power by traveling the world to all of company's major locations and saying goodbye to employees and dealers.
In terms of the future at Ford, Mulally doesn't predict any big changes in management style because the rest of the executive team is staying in place. He believes that Fields is going to maintain the processes already in place to keep things going. After all, it seems to be working. The company is predicting a return to profitability in Europe next year and is opening 88 new dealers in China. If the business could get its recalls under control, things could get even better.

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.

Subaru Legacy pitted against Roadkill project cars

There's an evergreen debate among auto enthusiasts about whether they would prefer to have the latest and greatest car of today or a certified classic from yesteryear. What if you had to further define that, though, and the choice was between a brand new 2015 Subaru Legacy or a turbocharged Datsun 240Z with a hatch that wouldn't close? Roadkill aimed to find out that and more in one of its best videos to date.
According to the hosts, Subaru came to them, handed over some money and challenged Roadkill's project cars against its latest Legacy. The result is every bit as good (or better) than any automotive-themed show you could find on television.
Things start simple with a figure-eight race in a rodeo arena with the Subaru taking on Roadkill's 1968 Ford Ranchero, originally built for ice racing. From there the Legacy races a 1968 Dodge Charger with no windows around and off-road rally stage. Finally, the Subie goes head-to-head against the Rotsun, the aforementioned turbocharged 240Z, through an abandoned neighborhood. Plus, there's a bonus drag race challenging them all.