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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 Fiesta 1.0L EcoBoost sales robust in early going

Okay, okay, okay, so I was just a smidge wrong. Those that read my review of the Ford Fiesta with the new 1.0-liter, EcoBoost engine will know that while I really enjoyed the torquey little three-cylinder, I was concerned that Ford's decision to force 1.0-liter owners into a manual transmission, steel wheels and one trim level might hurt sales of the new engine. I was also concerned that the promised 45-mile-per-gallon highway rating wouldn't be enough to tempt buyers into trying an engine that's so far outside of what the general public is use to. My concerns, though, seem to have been for naught.
While not doing a booming business on the triple-equipped Fiesta, Ford is seeing a take rate of four to eight percent per month in the engine's first few months on sale. Now, four to eight percent might not sound like a lot - if, like last year, the Fiesta sells around 71,000 units, there'd be barely 5,600 1.0-liter models on the road. It is also small potatoes relative to the take rate on EcoBoost-equipped vehicles across the Ford range, which US sales analyst Erich Merkle estimates to be roughly 35 to 40 percent of retail sales. Still, according to The Detroit News, the 1.0-liter is getting adopted at roughly the same rate as the sparkling Fiesta ST, which should be a solid indication of just how well this little engine is doing.
The 1.0-liter's success "really speaks volumes, not just to what we're doing with the Fiesta, but with EcoBoost in general," Merkle told Autoblog.

Autoblog Minute: Finalists announced for 2016 Tech of the Year award

Here are the finalists for Autoblog's 2016 Technology of the Year award. Autoblog's Chris McGraw reports on this edition of Autoblog Minute, with commentary from Autoblog executive producer Adam Morath, AutoblogGreen editor-in-chief Sebastian Blanco, and Autoblog senior editor Alex Kierstein. Show full video transcript text [00:00:00] It's Fall here in Detroit and for us that means it's time for football, autumn beers, and the fourth annual Autoblog Tech of the Year awards. I'm Chris McGraw and this is your Autoblog Minute. Tech of the Year is one of our favorite things here at Autoblog. It's a time when we get celebrate all the best tech from the industry we love most. [00:00:30] - [00:01:00] [Commentary form Adam Morath, Sebastian Blanco, Alex Kierstein] Past winners include, Tesla's Supercharger network, FCA's Uconnect system and the BMW i8. In 2016 we're doing something a little different for Tech of the Year. We've separated our award into two categories. One award for best tech car, and a second award for best technology of the year. The nominees for best car in 2016 are: [00:01:30] the Tesla Model S, the Chevrolet Volt, and the BMW 7 series. The nominees for best tech in 2016 are: Apple CarPlay, Android Auto, Volkswagen's MiB II with AppConnect, Ford Sync 3, Audi's Virtual Cockpit, the Smart Cross Connect App, and Volvo Sensus. [00:02:00] We're going to announce Autoblog's Tech of the Year winners in January at the 2016 North American International Auto Show, in Detroit. For Autoblog, I'm Chris McGraw. Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals. Green BMW Chevrolet Ford Hummer smart Tesla Volkswagen Volvo Technology Infotainment Autoblog Minute Videos Original Video