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EPA says fuel economy test for hybrids is accurate

The EPA says it stands behind its fuel economy test for hybrid vehicles following controversy about the testing process after Ford C-Max Hybrid customers and automotive journalists alike struggled to achieve 47 miles per gallon, the advertised mpg number, Automotive News reports. Ford responded to the issue almost two weeks ago by claiming that a 1970s-era EPA general label rule was responsible for the inaccurate mileage numbers, rerating the C-Max Hybrid's mpg numbers and offering customers rebates. Ford later said it didn't overstate the C-Max Hybrid's fuel economy and that it was surprised by the low numbers.
Ford technically didn't do anything wrong because it was following the general label rule, but agency regulator Christopher Grundler says the automaker was exploiting a loophole when it came up with the hybrid C-Max numbers, and that the testing process remains accurate. The general label rule allows vehicles that use the same engine and transmission and are in the same weight class to share fuel economy numbers, but it doesn't take into account other factors such as aerodynamic efficiency, which affects hybrids more drastically than non-hybrid vehicles. Ford originally used the Fusion Hybrid economy figures for the C-Max Hybrid and claimed the engineers didn't realize that its aerodynamic efficiency would affect fuel economy as much as it did.

Ford books $2.6B pretax quarterly profit

While its crosstown competitors at General Motors are smarting over a drastic drop in net income to $200 million in the second quarter, Ford has reason to celebrate. The Blue Oval has announced its own Q2 financial results, including a growing net income of $1.3 billion, a $78 million increase over last year. Pretax profits for the company reached $2.6 billion, up $44 million from 2013, but total revenue dropped slightly to $37.4 billion, down from $37.9 billion. Profits per share before one-time charges totaled 40 cents per share, beating Wall Street analysts' expectations of 36 cents a share.
Regionally, the Blue Oval performed strongly, as well. North America posted a record quarterly pre-tax profit of $2.4 billion, a $119 million increase. Europe also showed signs of turn around with its first profit in three years of $14 million after a loss of $306 million in Q2 2013. Ford is actually predicting profitability in the troubled region in 2015. Asia Pacific operations also performed well with $159 million in profits, up $29 million from last year. The only region where the business posted a loss was South America.
According to Automotive News, Ford also announced more precise plans about the changeover to build the aluminum-intensive 2015 F-150. In August, the Dearborn plant will shutdown for eight weeks to retool and its Kansas City plant will do the same next year.

Jay Leno and Lee Iacocca reflect on 50 years of Ford Mustang

Lee Iacocca oversaw the birth of the Ford Mustang back in the 1960s, rocketing the new pony car nameplate into million-unit sales territory in its initial go-round and cementing its place in the history books. Thus, we were immediately drawn to this latest episode of Jay Leno's Garage, in which the funnyman hosts Iacocca for a look at the origins of Ford's most iconic sports car. The legendary auto exec is looking notably more frail than when we last saw him, but if we're being asked around as a video guest when we're 89 years old, we'll consider that evidence of a life well lived.
Serial No. 0001 is on hand for the occasion for Jay's romp through history, as is the historic Mustang 1 showcar from 1962. Of course, the all-new 2015 Ford Mustang GT (in prototype form) makes an appearance at the end of the episode with chief engineer Dave Pericak, as well. Get some, below.