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Ford posts record pre-tax Q3 profit of $2.6B

Ford took in $2.6 billion in pre-tax profits in the third quarter of the year, making for a record trio of months that saw the Blue Oval's year-over-year earnings increase by $426 million. The earnings are being attributed not just to improvements in North American sales, but sales around the globe.
Revenue was up 12 percent, to $36 billion, although net income took a hit, dropping $359 million to $1.3 billion. Ford was dinged with $498 million in pre-tax charges, which are being blamed for the drop in net income.
The news has boosted Ford's hopes for full-year results, bumping it's total profits up past $8 billion, according to Automotive News. The Dearborn, MI-based manufacturer is still expecting a loss in Europe, although it's forecasted less than the $1.73 billion it burned in 2012. In fact, according to CFO Bob Shanks, Ford's European losses dropped by 51 percent year-over year, a huge improvement for the brand.

For EV drivers, realities may dampen the electric elation

The Atlantic, a decades-old monthly journal well-regarded for its intelligent essays on international news, American politics and cultural happenings, recently turned its attention to the car world. A piece that ran in The Atlantic in October examined the excesses of the GMC Hummer EV for compromising safety. And now in its latest edition, the magazine ran a compelling story about the challenges of driving an electric vehicle and how those experiences “mythologize the car as the great equalizer.” Titled “The Inconvenient Truth About Electric Vehicles,” the story addresses the economics of EVs, the stresses related to range anxiety, the social effects of owning an electric car — as in, affording one — and the overarching need for places to recharge that car. Basically, author Andrew Moseman says that EV life isn't so rosy: “On the eve of the long-promised electric-vehicle revolution, the myth is due for an update. Americans who take the plunge and buy their first EV will find a lot to love Â… they may also find that electric-vehicle ownership upends notions about driving, cost, and freedom, including how much car your money can buy. "No one spends an extra $5,000 to get a bigger gas tank in a Honda Civic, but with an EV, economic status is suddenly more connected to how much of the world you get to see — and how stressed out or annoyed youÂ’ll feel along the way.” Moseman charts how a basic Ford F-150 Lightning electric truck might start at $55,000, but an extended-range battery, which stretches the distance on a charge from 230 miles to 320, “raises the cost to at least $80,000. The trend holds true with all-electric brands such as Tesla, Rivian, and Lucid, and for many electric offerings from legacy automakers. The bigger battery option can add a four- or five-figure bump to an already accelerating sticker price.” As for the charging issue, the author details his anxiety driving a Telsa in Death Valley, with no charging stations in sight. “For those who never leave the comfort of the city, these concerns sound negligible," he says. "But so many of us want our cars to do everything, go everywhere, ferry us to the boundless life we imagine (or the one weÂ’re promised in car commercials),” he writes. His conclusions may raise some hackles among those of us who value automotive independence — not to mention fun — over practicalities.

Autoblog Podcast #390

Episode #390 of the Autoblog Podcast is here, and this week, Dan Roth, Steven Ewing and Sebastian Blanco from Autoblog Green talk about the 2015 Ford Mustang specs, the 2016 Smart models, a proposal to add real-world numbers to EPA economy tests and the potential downside of autonomous cars. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the new rundown below with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #390: The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics: 2015 Ford Mustang specs 2016 Smart FourTwo and FourFour EPA wants road tests The downside of autonomous cars In the Autoblog Garage: 2014 Nissan Leaf 2015 Audi A3 Sportback E-Tron 2014 Scion tC Hosts: Dan Roth, Steven Ewing, Sebastian Blanco Runtime: 01:33:35 Rundown: Intro and Garage - 00:00 Mustang Specs - 34:40 2016 Smart Models - 51:14 EPA Tests - 01:02:57 Autonomous Cars - 01:11:19 Q&A - 01:21:22 Get the podcast: [UStream] Listen live on Mondays at 10 PM Eastern at UStream [iTunes] Subscribe to the Autoblog Podcast in iTunes [RSS] Add the Autoblog Podcast feed to your RSS aggregator [MP3] Download the MP3 directly Feedback: Email: Podcast at Autoblog dot com Review the show in iTunes Podcasts Audi Ford Nissan Scion smart Electric Hybrid