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Ford posts decade-best $2.1B profit in Q1 2013
Wed, 24 Apr 2013As predicted, Ford has reported that its first quarter of 2013 was a resounding success overall, with a pretax profit of $2.1 billion ($0.41 per share), and a net income of $1.6 billion ($0.40 per share). In fact, Ford made a pretax profit of some $2.4 billion in its home North American market, with that total number being pulled down by losses in South America and Europe. That gaudy North American profit is the strongest result by the automaker since 2000.
Ford's companywide profit for Q1 was down $147 million from one year ago, while the net income number marked an increase of $215 million year over year. Overall, this is Ford's 15th-consecutive profitable quarter.
The bad news from the European market was even worst in Q1 2013 than it was last year. Pretax losses of $462 million - on revenue of $6.7 billion - represented a year-over-year change of -$313 million. In South American, the company reported a loss of $218 million, down from a slim profit of $54 million in Q1 2012. The news was better for Ford Asia Pacific Africa, where a $6 million pretax profit in 2013 showed a year-over-year gain of some $101 million when compared to losses in 2012. Scroll down to read Ford's full press release.
Last 2014 Ford Shelby GT500 Convertible nets $500k for charity at Barrett-Jackson [w/video]
Tue, 13 Aug 2013The last 2014 Ford Shelby GT500 Convertible was sold on Saturday at a Barrett-Jackson auction in Reno, Nevada, for $500,000. Ford donated the Mustang to be auctioned for charity, and all of the money is going to the Brain Injury Association of America.
Parnelli Jones, winner of the 1963 Indianapolis 500, was there on behalf of the BIAA with his son Page, who suffered a brain injury in a sprint car crash in 1994. The bidding increased quickly, reaching $500k in no time, spreading a bit more hope to people who live with brain injuries.
The winning bidder will be able to choose the GT500's exterior, interior and stripe colors, and is scheduled to receive the car, signed by Parnelli Jones in appreciation for the donation, by the end of 2013. Watch the video below to see the auction-block action.
Ford recalling 390,000 cars over door latch woes
Fri, Apr 24 2015Ford is recalling certain Fiesta, Fusion and Lincoln MKZ vehicles due to faulty door latches, marking the latest in what seems to be a recurring issue for the Blue Oval. This is the third door latch recall from Ford in 2015, following a 213,000-unit recall in March and a 205,000-unit recall in January. This one, however, is significantly larger. A total of 390,000 units are affected, including Fusions and MKZs from model years 2013 and 2014, as well as Fiestas from model years 2012 to 2014. A "broken pawl spring tab" is the culprit, potentially keeping doors from latching shut. According to Ford, even if the door does shut, it could come open again without warning. The affected Fiestas were built between February 1, 2012 and May 31, 2013 at the Cuautitlan, Mexico factory. The Fusion and MKZ siblings, meanwhile, were screwed together at Hermosillo Assembly in Mexico between July 1, 2012 to May 31, 2013. Ford is aware of three minor reports of door malfunctions. In two cases, the door bounced back open, quite literally hitting drivers on their way out. In the third case, a door swung open of its own accord while a driver was attempting to park, hitting another vehicle. Ford will notify owners, who will need to report into dealers to have all four latches replaced. Scroll down for the official press release. Related Video: APR 24, 2015 | DEARBORN, MICH. FORD MOTOR COMPANY ISSUES SAFETY RECALL IN NORTH AMERICA FOR DOOR LATCH ISSUE ON FORD FIESTA AND FUSION, LINCOLN MKZ Ford Motor Company is issuing a safety recall for approximately 390,000 2012-2014 Ford Fiesta and 2013-2014 Ford Fusion and Lincoln MKZ vehicles for a door latch issue. The door latch in these vehicles may experience a broken pawl spring tab, which typically results in a condition where the door will not latch. If a customer is then able to latch the door, there is potential the door may unlatch while driving, increasing the risk of injury. Ford is aware of two allegations of soreness resulting from an unlatched door bouncing back when the customer attempted to close it, and one accident allegation when an unlatched door swung open and struck an adjacent vehicle as the driver was pulling into a parking space. Affected vehicles include certain 2012-2014 Ford Fiesta vehicles built at Cuautitlan Assembly Plant, Feb.