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Enterprise customer billed $47k for Mustang stolen from rental lot

A weekend rental of a Ford Mustang GT Convertible sounds like a nice, relaxing way to burn some gas, but one Nova Scotia woman's two-day rental is turning into a months-long headache. In early October, Kristen Cockerill picked up the Mustang from Enterprise Rent-A-Car, and she returned it the following day as stipulated by the rental contract. Unfortunately, she dropped the car off on a Sunday - a day on which the particular Enterprise office is closed - and the car ended up being stolen overnight.
Now, two months later, CBC reports that Cockerill received a bill from Enterprise for the full replacement of the car totaling $47,271 (a base 2014 Mustang GT Convertible currently costs $40,349 in Canada). As it turns out, the fine print in the contract says that the renter is responsible for cars dropped off after hours until it can be inspected the next business day - this is also reflected on the key drop seen in the news report video, which states "vehicles returned after hours are the responsibility of the renter until inspected on the next business day."
It's not clear how much, if any, of that amount Cockerhill will be responsible for once her insurance company gets involved, but if the insurance company refuses to pay, Enterprise will bill the amount to the credit card she provided during her rental. While this ordeal is far over for Cockerhill, it's a good reminder for the rest of us to always read the fine print.

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 To Unveil Solar Hybrid Concept Car At CES

Ford plans to unveil at this month's International CES gadget show a solar-powered concept car that offers the same performance as a plug-in hybrid but without the need for a plug. The C-Max Solar Energi Concept car uses a gasoline engine combined with a gizmo that acts like a magnifying glass to concentrate the sun's rays on the vehicle's roof-mounted solar panels. The automaker says the vehicle's estimated combined city-highway mileage is 100 miles (160 kilometers) per gallon. The U.S. auto maker says that by using solar power instead of an electric plug, a typical owner will reduce their annual greenhouse gas emissions by four metric tons. The company says it sold about 85,000 hybrid or electric vehicles in 2013, including 6,300 units of its C-Max Energi plug-in hybrid. The sun-ray concentrator was developed by researchers at the Georgia Institute of Technology and uses what is known as a Fresnel lens, which concentrates light but can be made thinner than a conventional lens. A full day of sunshine is equivalent to a four-hour battery charge, or 8 kilowatts, Ford says. On a full charge, it should have a range of 620 miles (997 kilometers), the same as the C-Max Energi. The concept car also comes with a plug-in port for standard electric charging. Ford says that 75 percent of all trips made by an average driver could be powered by the sun. After showing off the concept car at the convention in Las Vegas Jan. 7-10, Ford Motor Co. says that it will test the vehicle with institute researchers to determine if it's feasible for mass production. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Gallery 2013 Ford C-Max Energi Test Drive View 9 Photos Green CES Ford Alternative Fuels Fuel Efficiency Solar Cars solar car