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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.

Lincoln debuts MKC ads starring Matthew McConaughey

Lincoln is making the decisive commitment that it wants to improve its brand perception going forward. It can't be cheap to hire A-list talent like Academy Award-winning actor Matthew McConaughey and director Nicolas Winding Refn, best known for Drive, for its new ad campaign for the 2015 MKC crossover, but the company is showing that it's serious about the new vehicle and its future. The first three of these five commercials are just hitting YouTube, and they begin airing on television on September 6.
The Live in Your Moment campaign is all about Lincoln trying to sell not just the MKC to customers but also explain the brand's philosophy. It's one of the oldest luxury automakers around, but hasn't exactly had a glorious history, especially recently. Based on these first ads, we can see that there's a definite focus on philosophizing rather than focusing on the crossover. At times, McConaughey seems just a mustache and a mangled beer can away from reprising his role from True Detective.
The first ad (above) is simply titled Intro and sets the mood and concept for the whole campaign. Bull has McConaughey talking to a longhorn in the middle of a road, and I Just Like It has him explaining his affinity for the brand. Lincoln's full release is available below, and you can view the other ads by flipping through the playlist in the video player above.

Report: Lincoln getting all of Mercury's ad dollars

Now that the curtain has closed on Mercury, Ford Motor Company will redirect all of its marketing dollars for the oft-overlooked brand to the Blue Oval's luxury outpost, Lincoln. In speaking to Automotive News, the chairman of the Lincoln National Dealer Council, Bob Tasca, Jr., said, "You'll see a lot stronger presence in the advertising of Lincoln in 2011."
Lincoln spokesperson Christian Bokich reminded AN that the automaker is "preparing the way for seven new or significantly refreshed vehicles" that will be launched over the next four years, and the largest ad blitz in 2011 will focus on the refreshed MKX crossover, as well as the MKZ sedan and its hybrid counterpart. Following that, Lincoln has plans to launch a completely overhauled version of its Navigator SUV, an all-new C-segment vehicle and the overhauled 2013 MKZ, which Tasca says will be "strikingly different from its Ford Fusion sibling."
[Source: Automotive News - sub. req. | Image: John Neff/Autoblog/AOL]Read | Permalink | Email this | Comments