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Ford books $1.2B profit in second quarter on strength of trucks

Ford is rolling along nicely, with a positive second-quarter sales report and a $2.3 billion profit in North America. The Dearborn, Michigan-based manufacturer captured $1.2 billion globally from April to June, with a $177 million profit in Asia. Even in Europe, the land of doom and gloom for automakers not named Mazda, Ford saw some success as it lowered its expected full-year loss from $2 billion to $1.8 billion. The company lost $348 million in Europe during the second quarter, which, believe it or not, represents a $56-million improvement over 2012.
According to the report on CNBC, Ford enjoyed a three-percent increase in pre-market trading thanks to the news. The strong demand for the F-150 propelled growth in the US market, while Ford's 47-percent increase in Asian sales can be attributed to the new EcoSport crossover and Kuga (Ford Escape in the US) arriving in the somewhat fragile Chinese market.
Pre-tax profits for Ford are expected to be in the neighborhood of $8 billion by the end of the year, with sales the US, Europe, and China all looking up. The company also shifted $4.78 billion of asset-backed debt in the form of bonds, according to a report by Bloomberg. This move came amidst rumors of the Federal Reserve cutting back on its $85-billion-per-month bond purchases. Ford wasn't alone among automakers looking to sell off debt, though, as Mercedes-Benz and Nissan shifted around $1 billion each in bonds relating to auto loans.

And the Top Gear UK Cars of the Year for 2013 are...

Those loony Brits at Top Gear have named their Car of the Year, and if you're thinking it's the McLaren P1, Jaguar F-Type, Land Rover Range Rover Sport or Rolls-Royce Wraith, we're sorry to inform you that none of those Anglo automobiles earned the crown. In fact, the winner of Top Gear's most prestigious award is quite the surprise.
Of course, those cars weren't without their own awards. The P1 was the top hypercar (sorry, Porsche 918 and Ferrari LaFerrari), while the F-Type netted best convertible and the Range Rover Sport was voted SUV of the Year. Other honorable mentions included the Mercedes-Benz SLS AMG Black and S-Class, the Porsche 911 GT3, the BMW i3 and the Ferrari 458 Speciale. The winner, though, wasn't even a high-dollar supercar. It was the Ford Fiesta ST.
Yes, the Fiesta ST beat out some off-the-wall cars like the revolutionary Volkswagen XL1 and the bonkers Peugeot 208 T16 Pikes Peak, not to mention all the cars we listed above, to take the title of Top Gear Car of the Year. And if you've driven one, you'll completely understand why.

Next Shelby Mustang to wear GT350 nameplate

Earlier this month, rumors started to swirl 'round the web about the next-generation Ford SVT Mustang - the halo version of the all-new 2015 'Stang seen testing in the gallery above. Originally, we heard that the Shelby GT500 moniker would be dumped in favor of "a name you're familiar with," which some sources guessed could mean a return of the Cobra nameplate.
That might not be correct. According to Road & Track, citing a report from Mustangs Daily, the new range-topping Mustang will bring back the Shelby GT350 name - currently used on an aftermarket version of Ford's Pony produced by Shelby American (take a look at our recent Quick Spin of that car). Expect the new GT350 to be quite a bit different than the current GT500 - it will be all motor, using a V8 that's derived from the naturally aspirated 5.0-liter Coyote engine (though it will no doubt have a higher displacement). The GT350 will be a lot more powerful than the next Mustang GT, which is expected to offer something like 450 horsepower, but won't be quite as absurd as the 662-horsepower GT500 we currently enjoy.
The Shelby GT350 will reportedly bow with the rest of the new Mustang range at the 2014 New York Auto Show, which coincides exactly with the original Mustang's debut at the New York World's Fair in 1964. If that seems far out, don't worry, we'll be seeing the rest of the 2015 Mustang range before then, but Road & Track reports that the 2014 Detroit Auto Show stage will be reserved for the reveal of the next Ford F-150 pickup.