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Ford dealer loses Super Bowl bet, pays $300K to lucky customers [w/video]

A Missouri Ford dealership's Super Bowl weekend sale cost it big when the improbable happened. Hutcheson Ford ran a promotion from January 29 to February 1, called the Super Weekend Sale. The gist was, if any customer purchased a vehicle between those dates and either the opening or second-half kickoff of the big game was returned for a touchdown, the dealership would refund the purchase price.
In the dealership's defense, it seemed like a safe bet. According to the mathematicians, there was just a 2.5-percent chance of either half opening with a touchdown return. But that didn't stop Seattle's Percy Harvin from doing his part to ruin Denver's evening, returning the second-half kick for an 87-yard touchdown run. Twelve Hutcheson customers were eligible for refunds thanks to the return, with prices ranging from $10,000 to $55,000, according to Automotive News. The total amount shelled out by the dealership? $300,000.
"At least we're not like that furniture guy that lost $7 million," dealership marketing manager Kathleen Frazier told AN. We think it was a big success." The dealership did take out insurance to cover its losses, meaning the $300K won't come entirely from its pockets.

Ford 2Q profit drops 86% as it restructures overseas

DEARBORN, Mich. (AP) — Ford's net profit tumbled 86% in the second quarter due largely to restructuring costs in Europe and South America. Net income for the April-through-June period dropped to $148 million, or 4 cents per share. Without the charges the company made 28 cents per share. Revenue was flat at $38.9 billion. On average, analysts surveyed by FactSet expected earnings 31 cents per share on revenue of $38.49 billion. Chief Financial Officer Tim Stone says the company had charges of $1.2 billion as it moved to close factories in Europe and South America. He says Ford already is seeing an impact from its global fitness measures that included a reduction of 7,000 white-collar workers. Ford, which released numbers after the markets closed Wednesday, says its results include a $181 million valuation loss on an investment in a software company, trimming 4 cents off adjusted earnings per share. Its stock fell 6.3% in after-hours trading to $9.68. Stone said Ford is in the early stages of its restructuring, but already is seeing improvement in some regions. Free cash flow also improved by 80% to $2.1 billion in the first half of the year, he said. "We're already starting to see some early benefits," he said. "A lot of work to do." The company expects improvement in the second half of the year as more new big SUVs hit dealerships and more of the restructuring takes hold. Ford on Wednesday forecast pretax adjusted earnings of $7 billion to $7.5 billion for all of 2019, compared with $7 billion last year. The company previously had only said that pretax earnings would improve. Full-year adjusted earnings per share are forecast to be $1.20 to $1.35, up from $1.30 in 2018. Previously it did not give per-share guidance. Ford's U.S. sales fell nearly 5% in the second quarter, according to the Edmunds.com auto pricing site, as the company exited most of its passenger car business. But Stone said sales of the new Ford Ranger small pickup offset much of that as its share of the small truck segment rose 14%. Edmunds, which provides content for The Associated Press, said Ford's average vehicle sale price rose 2.8% to $41,328 during the quarter. In North America, Ford's biggest profit center, pretax earnings fell 3% to just under $1.7 billion, which the company blamed on switching its Chicago factory to build new versions of midsize SUVs.

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.