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Ford posts decade-best $2.1B profit in Q1 2013

As predicted, Ford has reported that its first quarter of 2013 was a resounding success overall, with a pretax profit of $2.1 billion ($0.41 per share), and a net income of $1.6 billion ($0.40 per share). In fact, Ford made a pretax profit of some $2.4 billion in its home North American market, with that total number being pulled down by losses in South America and Europe. That gaudy North American profit is the strongest result by the automaker since 2000.
Ford's companywide profit for Q1 was down $147 million from one year ago, while the net income number marked an increase of $215 million year over year. Overall, this is Ford's 15th-consecutive profitable quarter.
The bad news from the European market was even worst in Q1 2013 than it was last year. Pretax losses of $462 million - on revenue of $6.7 billion - represented a year-over-year change of -$313 million. In South American, the company reported a loss of $218 million, down from a slim profit of $54 million in Q1 2012. The news was better for Ford Asia Pacific Africa, where a $6 million pretax profit in 2013 showed a year-over-year gain of some $101 million when compared to losses in 2012. Scroll down to read Ford's full press release.

Ford recalls more than 550,000 trucks and SUVs for various safety issues

Ford announced safety recalls for its current F-150 pickup along with several Ford and Lincoln crossovers early Wednesday. The recalls cover more than 550,000 vehicles and address various safety defects, ranging from a fire hazard to potential loss of braking power.  The most far-reaching of the recalls covers approximately 550,000 examples of the 2015-2018 Ford Edge and 2016-2018 Lincoln MKX, which may have been assembled with defective front brake jounce hoses (also commonly referred to as "flex lines"). These hoses run from fixed points on the chassis to the individual front brake calipers. Defective hoses could potentially rupture, allowing brake fluid to leak and resulting in a loss of braking function. Ford will replace the components in question with revised parts.  The next-largest recall is for roughly 3,000 2020 Lincoln Corsair crossovers. The affected models may have been assembled without proper clearance between their rear suspension springs and toe link brackets. The components could potentially make contact, wearing down the protective coating on the rear coil springs, allowing corrosion to occur over time. This corrosion could eventually lead to a failure of the spring. If this happens while the vehicle is being driven, it could result in a sudden change to the vehicle's handling characteristics, and the spring fragments could potentially cause further damage to the car or surrounding traffic.  Ford says owners will be notified that their Corsairs need to be inspected; if there is not adequate clearance between the rear suspension components, Ford's service technicians will remove material from the toe link bracket to allow for operation without contact.  The final (and by far the smallest) recall is for the 2020 F-150. Some units may have left the factory with the incorrect retention nut on the hot lead to the starter motor. Ford says it can cause increased heat generation or electrical arcing, which could potentially result in a fire. Ford says this issue is limited to just a few hundred examples sold in the United States. Dealers will inspect the vehicles and replace the nut if necessary.       

24 Hours of Le Mans live update part one

We tasked surfing journalist Rory Parker to watch this year's live stream of the 2016 24 Hours of Le Mans. What follows is an experiment to experience the world's greatest endurance race from the perspective of a motorsports novice with a profanity-laden stream-of-consciousness writing style. Parker lives in Hawaii and spends far more time spearfishing than behind the wheel of a car. Jump ahead to Part Two here, and Part Three here. Big Money and billionaire hobbyists and rockets on wheels. Jets belching French color smoke overhead. Balance of power fuckery. Plenty of water on the ground this morning. Absurdly expensive motorcars lined up in the pissing rain. Fast twitch lunatics behind the wheel. Chomping at the bit. Let's go let's go let's go! Race hasn't even started, Ford #67 maybe dealing with clutch issues. Karma? That beautiful bastard Brad Pitt's out on the track, waving the tricolor flag. It's a standing start in "Noah's Ark" weather and the 2016 24 hours of Le Mans is go! First lap takes place behind the safety car, finished in a record setting 8 minutes 27 seconds. Wrong kind of record maybe, but this is the first time I've set my mind to watching the whole damn race. Feel like I'm part of history. 3:00 AM on Kauai, a little too early for life. Sucking down coffee like a maniac. Don't fall back asleep. Got my hands on four hours of rest, how much more can I need? Better be enough for the next twenty four hours. Gonna get kinda punchy toward the end. Jason Statham on the scene. Four feet of solid muscle, non-existent hairline. Lovely wife peanut gallery sitting next to me calls him the "best race car drive in the world." Not sure if she's serious. Toss up, could go either way. Statham's a funny guy. Heir to the Bruce Willis comedy action crown. Really good in the movie where the fat comedy lady plays a spy. Ford's on the road. Problems with gearbox pressure, apparently. Nearing a half hour in and the safety car is still on the track. Hellish amounts of water on the ground, in the air. Visibility is garbage. Getting better. Twitter wags, "Not with a bang but a whimper." Just building suspense. Mother Nature felt like killing some people today, race officials need to dial back the drivers until it dries a tad. Normal inclination would've seen 'em flying, guaranteed early lap wrecks. Sad news for that bloodthirsty part of my lizard brain I try and keep suppressed. Good news for humanity. #12 in the pit for a bit.