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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 to show special edition Raptor on April 9

There are precious few details, but what we do know is that Ford will be revealing images of "appearance upgrades" for a special-edition 2014 F-150 SVT Raptor on April 9. The slideshow will happen during a Motor Press Guild luncheon at Ford's Design Center Showroom in Irvine, California.
Without photos or further details, we're left to wonder about the extent of these changes, but aren't expecting anything too significant given the venue. Ford is understood to be revealing a next-generation F-150 with a big weight loss - as much as 700 pounds - for 2014, though it isn't yet clear if that's the truck's model year or simply its on-sale year. For at least a couple of years, Ford forums have been suggesting changes will come with the 2014 Raptor, so there could still be a bigger surprise in store. Either way, we'll know what all this means in a little more than a week. The press release below has the official details, but for the moment, we'll content ourselves by ogling the 2013 model above.

NHTSA closes probes on Jeep Grand Cherokee, Ford Freestar and Mercury Monterey

The Detroit News reports the National Highway Traffic Safety Administration has officially closed its investigations into 2012 Jeep Grand Cherokee, 2004-2005 Ford Freestar and Mercury Monterey models. The separate probes found no issues that pose safety concerns. NHTSA began investigating certain Grand Cherokee SUVs over complaints that power steering hoses could detach during operation, thereby increasing the risk of a vehicle fire. Of the 24 reports of failure, none alleged smoke or fire in the engine bay, and Chrysler has since modified the power steering cooler assembly to reduce the likelihood of the failure.
Meanwhile, certain Ford Freestar and Mercury Monterey vehicles garnered a government probe after receiving complaints that the models were equipped with faulty scissor jacks. The agency had received six reports of the jacks failing or causing injuries, including one incident that resulted in a fatality. But NHTSA says the jack failure rate is similar to those found in other vehicles. In those six cases, the government agency found the jacks were being used for something other than changing a tire, and investigators could not determine whether the emergency brake was set or the rear tires were properly chocked.