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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 idling Michigan Assembly Plant to trim Focus, C-Max supply

Ford will be putting the brakes on production at its Michigan Assembly Plant in Wayne, MI, idling production during the weeks of October 28 and December 16. Ford is citing the first drop in US sales in 27 months, a 4.2-percent dip in September, as the impetus for trimming their supplies, according to Automotive News.
Ford's deft management of its supplies has been part of its success over the years, and seeing supplies of Focus and C-Max, the two vehicles built at MAP, rise from 58 and 108 days, respectively, to 71 and 122 days over the span of a month was apparently all that was need to justify the trimming. As AN points out, the rule of thumb for many automakers is to maintain a 60-day supply of vehicles.
"Ford has been focused on keeping their pricing in check. Their operating margin is in double digits. Nobody else is there and they're obviously very proud of that," Alan Baum, an auto analyst with Baum & Associates told AN. Keeping the supply chain operating smoothly and not increasing supplies too much is crucial to that healthy profit margin. After all, a large supply lowers prices ,which, in turn, cuts profit. So while this news might not be great for employees at MAP, who now have an extra two weeks of vacation time, it's far from a sign of problems in Dearborn. Quite the opposite, actually.

How Ford hid the 2015 Mustang from spy photographers

Now that we've finally seen the 2015 Ford Mustang, it's fun to go back and look at the spy shots we spent months pouring over, trying to dissect what was under all the camouflage. For the most part, Ford did a good job of concealing the car from spy photographers, and it released a video showing how much work went into doing so.
As crude as the Mustang's camo looked, all of the hard plastic, foam, vinyl and ratchet straps were actually created and put in place by a specific design team. The whole idea was to hide the car's identity, but it certainly ended up acting as a magnet for attention, too. According to Ford's press release, it took less than an hour for spy shots to appear online after the car was taken on public roads for the very first time - this is likely in reference to our first official spy shots of the Mustang from June, shown in the gallery below.
Scroll down for a press release and video, which shows footage of the 2015 Ford Mustang testing with minimal camouflage. This is probably the same track session where we got our first look at the Mustang's face back in August.