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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.

Ford to show special edition Raptor on April 9

There are precious few details, but what we do know is that Ford will be revealing images of "appearance upgrades" for a special-edition 2014 F-150 SVT Raptor on April 9. The slideshow will happen during a Motor Press Guild luncheon at Ford's Design Center Showroom in Irvine, California.
Without photos or further details, we're left to wonder about the extent of these changes, but aren't expecting anything too significant given the venue. Ford is understood to be revealing a next-generation F-150 with a big weight loss - as much as 700 pounds - for 2014, though it isn't yet clear if that's the truck's model year or simply its on-sale year. For at least a couple of years, Ford forums have been suggesting changes will come with the 2014 Raptor, so there could still be a bigger surprise in store. Either way, we'll know what all this means in a little more than a week. The press release below has the official details, but for the moment, we'll content ourselves by ogling the 2013 model above.

Ford Transit Skyliner Concept does discreet luxury in NYC

There's something to be said for luxed-out vans. They're cool, and as a means of getting chauffeured about, they're extremely comfortable and far more low key than your typical executive luxury sedan. For the 2014 New York Auto Show, Galpin Auto Sports has shown the potential of the new-for-the-US Ford Transit as an ultra-luxurious people hauler.
The Transit Skyliner Concept, which we previewed last week, sports four finely crafted captain's buckets that can be moved into different formations based on need. Want to watch a movie? The seats can be swung around to face a 52-inch screen. Riding along with some business associates? A table can be popped up. There's even a configuration for tailgating.
The materials are, unsurprisingly, pretty plush. The leather seats and wood floors (yes, wood floors in a van) look great, while the trunk and its customized luggage are a nice touch, as well.