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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.

Here's our best look yet at the production Lincoln Continental

The team at Lincoln continues to strip off camouflage from the Continental in each new round of spy shots, and the latest set presents a luxury sedan that looks nearly ready for a debut at the Detroit Auto Show in January. This one doesn't even need a tow truck to get around. The production Continental takes the handsome concept's design and translates its cues to the road with tiny alterations. The rectangular, mesh grille doesn't shine with chrome on this one, but that would be an easy addition for the Detroit show. The LED headlights look nearly the same with running lights that sweep upward at the corners. The bottom of the lower fascia sees the biggest tweak the company drops the thick chrome strip in favor of a thinner lip. Lincoln doesn't put any camo on the pillars, so these shots provide a great view of the roofline in profile. Look carefully along the beltline and you can spot where the designers incorporated the high-mounted door handles from the concept. This minor styling touch greatly helps to clean up the lines along the side. The rear sees bigger changes from the concept. For example, these undisguised taillights share the same shape but now have more visible red in them. The production version also wears a fairly simple integrated exhaust rather than the more complicated design before. The Continental will reportedly be available with the Lincoln-exclusive 3.0-liter EcoBoost and front- or all-wheel drive. Unlike the MKS that it will replace, the model's production will likely occur at the Flat Rock, MI, factory. Related Video:

Mulally wanted to kill Lincoln as late as last year, Fields vows to turn it around

Lincoln fans might want to give incoming Ford CEO Mark Fields a pat on the back for having a hand in saving the brand from the chopping block last year. He's among the people spearheading the rejuvenation of the division away from its stodgy image to appeal to younger customers.
According to two unnamed sources speaking to Bloomberg, CEO Alan Mulally was ready to kill Lincoln last year. Following the slow production ramp-up of the MKZ combined a with a costly ad campaign, Mulally was frustrated and openly suggested dropping the brand. However, Fields and Jim Farley, Ford's marketing boss, convinced the CEO that the brand was worth saving. They also created a plan to prevent similar problems for new models in the future.
It seems that one part of the strategy may involve waiting until new models are at dealers before starting a big ad campaign for them. Lincoln global director, Matt VanDyke, recently told Autoblog that the division is holding off on a full marketing push behind the new MKC crossover to prevent the supply problems that plagued the MKZ last year. Its big offensive begins in the fall when the CUVs are at all of the dealers and consumers are at home watching more TV. VanDyke also told Bloomberg that Fields, Farley and Joe Hinrichs, Ford president of the Americas, have more direct oversight over new product launches now.