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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.

Roush getting back into sport compact business with Focus ST mods [w/video]

Roush Performance offers a whole raft of parts for folks looking to tune their Ford Mustang and F-150 models, and now Focus owners can start getting in on the hotted-up action, too. Owners of the 2012-13 Focus and 2013 Focus ST can now get a Roush cold-air intake system, and ST owners can also opt for a high-performance cat-back exhaust.
Although all of these components are now available for order, the parts will ship sometime in July; no word yet on pricing. Down the road, Roush will also offer styling upgrades for the Focus as well as performance tuning upgrades such as engine controller, suspension, wheels and tires. Scroll down for a quick video of what the Focus ST exhaust sounds like, as well as a Roush press release.

Ford hires Wall Street analyst to head global strategy

Ford has hired auto industry veteran John Casesa, 52, as the company's group vice president of global strategy, effective March 1. His job is to oversee worldwide business development and have input on investments in future products and technologies. Casesa reports directly to Ford president and CEO Mark Fields. "John knows business and the auto industry inside and out. His deep experience and relationships will help guide and shape our global strategies – particularly as we challenge today's business model and push to innovate to make us even stronger tomorrow," Fields said in a statement. Casesa has spent much of his career in some facet of the automotive business, and one of his biggest contributions was as the original author of the Car Wars forecasting report in 1991. Since 2010, he has been senior managing director of Guggenheim Partners, responsible for the company's auto investments. Before that, he was an industry analyst for 20 years, including for Merrill Lynch. Casesa has also been a product planning analyst for General Motors. In addition to his understanding of the car-making business, he understands selling them, and was the co-owner of showrooms in the Northeast previously. FORD HIRES JOHN CASESA TO LEAD GLOBAL STRATEGY Auto analyst and investment banker John Casesa joins Ford as group vice president, Global Strategy Casesa will lead a team focused on enhancing existing business strategies and identifying and evaluating new opportunities for profitable growth DEARBORN, Mich., Feb. 17, 2014 – Ford Motor Company today announces the hiring of long-time auto analyst and investment banker John Casesa as group vice president, Global Strategy as part of the company's commitment to accelerate its One Ford plan, deliver product excellence and drive innovation in every part of the business. Reporting to Ford President and CEO Mark Fields, Casesa, 52, will be the most senior leader and corporate officer overseeing global strategy and business development. The appointment is effective March 1, 2015. Casesa will work with the company's business unit and skill team leaders to enhance existing business strategies and to identify and evaluate new opportunities leading to profitable growth. His work will be integrated into Ford's current process for driving results, which includes constantly understanding the changing environment and continuously improving its plans. "Ford is a growth company in a dramatically growing global industry.