2004 Ford Crown Victoria Base Sedan 4-door 4.6l (no Reserve) on 2040-cars

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Ford 2Q profit drops 86% as it restructures overseas

DEARBORN, Mich. (AP) — Ford's net profit tumbled 86% in the second quarter due largely to restructuring costs in Europe and South America. Net income for the April-through-June period dropped to $148 million, or 4 cents per share. Without the charges the company made 28 cents per share. Revenue was flat at $38.9 billion. On average, analysts surveyed by FactSet expected earnings 31 cents per share on revenue of $38.49 billion. Chief Financial Officer Tim Stone says the company had charges of $1.2 billion as it moved to close factories in Europe and South America. He says Ford already is seeing an impact from its global fitness measures that included a reduction of 7,000 white-collar workers. Ford, which released numbers after the markets closed Wednesday, says its results include a $181 million valuation loss on an investment in a software company, trimming 4 cents off adjusted earnings per share. Its stock fell 6.3% in after-hours trading to $9.68. Stone said Ford is in the early stages of its restructuring, but already is seeing improvement in some regions. Free cash flow also improved by 80% to $2.1 billion in the first half of the year, he said. "We're already starting to see some early benefits," he said. "A lot of work to do." The company expects improvement in the second half of the year as more new big SUVs hit dealerships and more of the restructuring takes hold. Ford on Wednesday forecast pretax adjusted earnings of $7 billion to $7.5 billion for all of 2019, compared with $7 billion last year. The company previously had only said that pretax earnings would improve. Full-year adjusted earnings per share are forecast to be $1.20 to $1.35, up from $1.30 in 2018. Previously it did not give per-share guidance. Ford's U.S. sales fell nearly 5% in the second quarter, according to the Edmunds.com auto pricing site, as the company exited most of its passenger car business. But Stone said sales of the new Ford Ranger small pickup offset much of that as its share of the small truck segment rose 14%. Edmunds, which provides content for The Associated Press, said Ford's average vehicle sale price rose 2.8% to $41,328 during the quarter. In North America, Ford's biggest profit center, pretax earnings fell 3% to just under $1.7 billion, which the company blamed on switching its Chicago factory to build new versions of midsize SUVs.

Ford issues recalls for Fiesta, Fusion, E-Series, and Lincoln MKZ

Ford has issued two new safety recalls for North America. The first covers certain 2014-15 Ford Fiestas, 2014-16 Ford Fusions, and 2014-16 Lincoln MKZs with doors that might not close properly. The second pertains to 2021 Ford E-Series stripped chassis and cutaway vehicles with a wiring harness that might chaffe and expose important wiring.    Ford is recalling 268,343 Fiesta hatchbacks, Fusion sedans, and MKZ sedans across the United States, Canada, and Mexico, with 248,912 of the affected vehicles located in the U.S. The recall says the "latch pawl spring-tab design" could crack in locations where the temperature gets too hot. If the tab breaks, the door might not shut. Or, worse, the door will shut temporarily and reopen once the vehicle is in motion. As a fix, Ford dealers will remove and replace the side door latches. In a separate recall, Ford is targeting 3,631 2021 E-Series stripped chassis and cutaway vehicles. These vehicles could have frame-mounted wiring harnesses that could deteriorate and break due to rubbing on the frame. If the chaffing wears down the harness, wiring for the fuel, trailer tow, and antilock braking systems could be exposed and damaged. In the worst-case scenario, the damage to the fuel pump wiring could cause the pump to stop working, which could stall the vehicle.  Those with affected E-Series vehicles should bring them in to dealerships for inspection. If there is no damage, technicians will add anti-abrasion tape over the area and "ensure clearance to surrounding components." If the harness is damaged, the wiring will be spliced and fixed, then anti-abrasion tape will be added. Ford also issued a third recall, but it is specifically for the Canadian market. On 54,292 examples of 2006-10 Ford Fusions, 2006-10 Mercury Milans, and 2006-10 Lincoln MKZs, a valve inside the hydraulic control unit might stick open. According to Ford, this could result in a longer brake pedal travel, which could possibly create dangerous situations if the driver is unaware. Dealerships will inspect the control units and replace those that are defective. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2021 Ford Bronco and Bronco Sport Leaks!!

We drive the 2016 Ford F-750 Tonka dump truck

The Ford F-750 dump truck stands nearly 10 feet tall and is painted bright yellow. It idles patiently yards away from Ford's test track in Dearborn, MI. "Tonka" is emblazoned on the sides. We pose the obvious question to Ford marketing manager Mark Lowrey: Why do this? "We built this truck to get attention," he replies. And indeed it does. Ford revealed the 2016 F-750 Tonka dump truck in March at an industry show, underscoring that the Blue Oval is back in the business of big trucks after years of teaming with Navistar in a joint venture. The new F-650s and F-750s start rolling off the line at a factory near Cleveland this summer, and the order bank is open now. The trucks come in regular, super, and crew cabs and offer three states of tune for the 6.7-liter Power Stroke V8 turbo diesel, plus a gasoline-fed 6.8-liter V10. Naturally, the Tonka has most powerful diesel mill, with 330 horsepower and 725 pound-feet of torque. The Tonka edition is a paint-and-sticker one-off that Ford is using as a promotional tool. You can't buy one, and it will be touring shows and events throughout the year. Lowrey notes that it calls attention to work trucks in a positive way. The general public usually only sees them when the trucks are blocking the road or making too much noise at a construction site. Tonka trucks, on the other hand, conjure up happy childhood memories. "We're going to do something where someone's going to see this truck and smile," he says. It's hard not to grin as we climb into the cabin of this monster truck. It has a 33,000-pound gross vehicle weight rating and can carry five yards worth of dirt. We're not doing anything like that today – just puttering around Ford's handling circuit inside its product enclave. The course is closed, so even though this track is better suited to calibrating Mustangs, F-150s, and well, almost anything but a dump truck, we're totally relaxed. We depress the button to release the parking brake and are off. The truck is surprisingly easy to drive. The vision ahead is excellent – makes sense, we're nearly one story off the ground, after all. The cabin is simple and cleanly laid out. It looks like a Ford truck, regardless of the size. The diesel engine has a lot of grunt. We can feel the torque. The steering is light, and we have to stomp on the air brakes to slow this thing down. We go 'hot' into a tight corner just for fun. It's not really that fast, but it raises the eyebrows of our film crew, which is set up nearby.