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Ford could post best-ever profits in Q1 2013

Analysts are saying that Ford Motor Company may have earned a record $2.7 billion pretax profit in North America during the first quarter of 2013, a number that represents its highest first quarter profit ever. The impressive earnings are further proof that the American automaker is making a solid comeback as the economy begins to recover.
Morgan Stanley and JP Morgan Chase are estimating that Ford's first quarter North American profit may have topped 12 percent. The firm cited the automaker's fresh lineup, but noted that CEO Alan Mulally needs to uphold the pace as the company works to gain ground in the car and utility segments.
Ford's success has been led by increased demand for its F-Series pickup, the best-selling vehicle in the US for 31 years, and by the Fusion sedan that recently recorded its best-ever quarterly sales in the domestic market. Ford is expected to release its first-quarter revenue on Wednesday, of this week.

New car market raining on convertibles' parade

Whether fitted with soft or hard folding lids, today's droptops are better than ever for year-round motoring. Advancements in power top mechanisms, sealing, aerodynamics, structural rigidity, rollover safety and creature comforts like heated and cooled seats mean that modern convertibles are more versatile and better to drive than ever before. Yet the segment's sales took a dive during the recession and haven't come back, Automotive News reports.
Part of that is because automakers are looking at today's more sensible buyers and simply not developing as many new models, and that lack of fresh iron is curbing sales. AN cites R.L. Polk data which notes that only about one percent of new vehicles registered in the US last year had tops that folded. Back in 2009, it was 1.4 percent, and it was 2 percent in 2006. All-in, some 151,636 convertibles were registered in 2012. That's more units more than were registered in each of the past three years, but the market has also grown as the economy has picked up speed, and as a percentage of new vehicles purchased, convertible sales are lagging.
Thus far in 2013, the Ford Mustang is America's top-selling convertible, with 6,421 units registered through the end of April, followed by its rival, the Chevrolet Camaro, at 4,751 units. The Volkswagen Beetle isn't far behind, with 4,305, but from that point, it's a steep drop off to the fourth-place Mercedes-Benz SL-Class and its 2,380 sales.

Ford and Chrysler reducing summer plant shutdowns

Most domestic automaker assembly plants traditionally take a couple of weeks off during the summer. The shutdowns give each plant time for much needed repairs and maintenance, and in some cases, help better align production with demand. Not this year, though, as demand for many models is outstripping what Ford, Chrysler and General Motors plants can produce.
Ford has announced that it will shorten its annual summer shutdown for most North American plants from two weeks to one. The shorter shutdown will increase the carmaker's annual North American production by 40,000 units on top of the 200,000 extra units that it was already planning to produce this year versus last. Automotive News reports that Ford produced 2.8 million vehicles on this continent in 2012, and that output this year has already increased 13 percent through April.
Chrysler, meanwhile, is also operating at full tilt and plans to run some plants through the summer with no shutdown at all. Those not getting a break include Jefferson North where the Jeep Grand Cherokee and Dodge Durango are assembled, Toledo North that will assemble the new Cherokee, and Conner Avenue, home of SRT Viper production. Other assembly plants will be down for a single week, while all of Chrysler's engine and transmission plants except one in Indiana will continue operating with no shutdown this summer.