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Auto blog

Ford shares falling on news of lower-than-expected profits next year

Ford has released projections for its 2013 profits, along with predictions of its 2014 earnings, and the news has forced the company's stock to stumble, falling over seven percent as of this writing. The Blue Oval is expecting earnings of $8.34 billion for 2013, although the bulk of that is coming largely from its North American operations, as troubles abroad continue to take a toll.
Calling 2013 an "outstanding" year, Ford expects its revenue to be up about 10 percent, thanks to gains in market share everywhere but Europe. But it's 2014 predictions that are causing stock prices to fall, as the Dearborn-based manufacturer expects pre-tax profits to fall to $7 to $8 billion, because of troubles in both Europe and South America, according to a report from Reuters. This is despite an expansion plan that will see it open an additional factory in the southern hemisphere, as well as two plants in China, all in a bid to launch 23 new or refreshed products next year.
The issues in South America aren't so much related to a fall in sales - Ford expects improved profits in Brazil and Argentina - but because of currency devaluations in Venezuela that are projected to cost it around $350 million. While that would still allow it to break even with 2013, Ford cites continued economic risks that could push losses even higher.

Autoblog Podcast #326

Easter Jeep Safari concepts, Shelby 1000, 2014 Cadillac CTS and Mercedes CLA45 AMG leaks
Episode #326 of the Autoblog Podcast is here, and this week, Dan Roth and Zach Bowman talk about this year's Easter Jeep Safari concepts, the 1,200-horsepower Shelby 1000 and leaked images of the 2014 Cadillac CTS and Mercedes-Benz CLA45 AMG. We wrap with your questions and emails, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Keep reading for our Q&A module for you to scroll through and follow along, too. Thanks for listening!
Autoblog Podcast #326:

Bill Ford op-ed argues we can't just build and sell more of the same cars

It's hardly a secret that the auto industry is undergoing an enormous, tectonic shift in the way it thinks, builds cars and does business. Between alternative forms of energy, a renewed focus on low curb weights and aerodynamic bodies, the advent of driverless and autonomous cars and the need to reduce the our impact on the environment, it's very likely that the car that's built 10 years down the line will be scarcely recognizable when parked next to the car from 10 years ago.
Few people are as able to explain the industry's many upcoming changes and challenges as clearly as William Clay Ford, Jr., better known as Bill Ford. The 57-year-old currently sits as the executive chairman of the company his great-grandfather, Henry Ford, founded over 110 years ago.
In an op-ed piece in The Wall Street Journal (subscription required), Ford explains that the role of automakers is, necessarily, going to change to suit the needs of the future world. That means changing the view of not just the automobile, but the automaker. As Ford explains it, automakers will "move from being just car and truck manufacturers to become personal-mobility companies."