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Ford Q1 profits dragged down by warranty costs

General Motors isn't the only Detroit automaker posting falling profits in the first quarter. Ford just released its Q1 2014 financial data, and it reported a net income of $989 million, down $622 million from Q1 2013. The drop is partially blamed on higher warranty and recall expenses than the company had anticipated.
Financially, Ford suffered a rough quarter almost across the board. Its pre-tax profit of $1.4 billion was also down $765 million from a year ago. Things were even worse in the North American market where operating profit fell significantly to $1.5 billion, down from $2.392 billion in Q1 2013. However, its global revenue ticked up slightly to $35.9 billion, from $35.6 billion in this period in 2013.
Ford admitted that it spent about $900 million on expenses that it hadn't planned for during this quarter. According to Reuters, the company paid about $400 million in additional warranty and recall costs in North America. The automaker didn't explain why the costs were so much higher than expected. However, in the last three months, Ford has had several recalls, including on the 2001-2004 Escape for rust, Explorer for its steering, Edge for its fuel line and others.

Mustang Cobra Jet prototype garners $200k for charity at Barrett-Jackson

A few weeks ago we brought you news of a one-off Mustang Cobra Jet that Ford was donating to charity. The car was set to be auctioned off by Barrett-Jackson in Las Vegas to benefit the National Multiple Sclerosis Society. Now that auction has taken place, bringing in an impressive $200,000 for MS research.
That's a lot of zeros for a Mustang, much less one you can't even drive on the street. But the unique pony car, bearing serial number 2014 BJMS CJXX1, packs a 5.0-liter supercharged V8, competition gearbox, wheelie bar, roll cage... all you could want, in short, in a turn-key drag racer. And all that for a good cause.

Ford will probably never offer two RS models at the same time

Autocar has some sour news for fans of go-fast Ford products. According to Roelant de Waard, Ford's president of marketing in Europe, the automaker will probably never offer more than one RS performance model for sale at the same time. That statement runs contrary earlier rumblings that suggested Ford would launch its next-generation Focus RS in 2015 and follow the hatch with a spate of other vehicles with an RS badge. But de Waard has made it clear that Ford of Europe is now focused on squarely on the next Mustang, even though there may be more RS models on the way eventually.
"What is clear is that the RS shouldn't be a series, or a car badge that we have in our portfolio all the time. It is an extreme car - something more than ST," he said.
That philosophy makes plenty of sense. We loved the old Focus RS - shown above in RS500 trim - because it was generally bonkers and plenty exclusive. Diluting either aspect is sure to end in disappointment for everyone involved.