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Ford Q3 pretax profits drop to $1.18B

Following positive third quarter financial results recently from General Motors, rival Ford took a tumble in Q3. The automaker posted pre-tax profits of $1.18 billion, compared to about $2.59 billion in Q3 2013, a drop of around 54 percent. Net income also suffered with $835 million made in the quarter, versus $1.272 billion last year, a decline of about 34 percent. The Blue Oval blamed the gloomy figures on three reasons in its release: "lower volume, higher warranty costs and adverse balance sheet exchange effects."
There were problems of one kind or another in practically every region. North America experienced higher warranty costs than expected, partially due to recalls. The sales volume for the quarter was 665,000 units, versus 725,000 in Q3 2013, and pre-tax results amounted to $1.41 billion versus $2.296 billion last year.
South America and Europe both posted worse pre-tax results than last year. On the bright side, European volume was up slightly to 321,000 vehicles, from 303,000 in Q3 2013. The Middle East and Africa also lost $15 million, but that was an improvement compared to the $25 million loss previously experienced in this region.

Ford Shelby GT350R sets 7:32.19 Nurburgring lap time

It was over a year ago that the Chevy Camaro Z/28 clocked a Nurburgring lap time of 7 minutes and 37.47 seconds, propelling itself up the leader boards as the fastest American muscle car to lap the infamous Nordschleife. But now word has it that another piece of Detroit iron has clocked an even faster time. According to Evo, the new Ford Shelby GT350R Mustang has lapped the Green Hell in a blitzkrieg 7:32.19. That's more than five seconds faster than the Z/28, and propels the GT350R into proper supercar territory: incrementally quicker than the Ferrari 458 Italia and in league with lap times posted by the Nissan GT-R (though not the fastest Godzilla has clocked over the years). With output quoted at "more than 500 horsepower and more than 400 lb-ft of torque," and no 0-60, quarter-mile or top end figures revealed to date, this marks the first genuine measure of performance we've seen for the track-focused pony car - though the numbers have yet to be officially confirmed. The GT350R packs a 5.2-liter V8 unburdened by 130 pounds of excess weight – helped along by carbon-fiber wheels coated in Michelin Pilot Sport Cup 2 rubber. Related Video:

Autoblog Podcast #317

Mitsubishi Mirage, Toyota thinks of beefing up US production, Marchionne on Alfa, Dart and minivans, Ford Atlas concept, Honda Gear concept
Episode #317 of the Autoblog Podcast is here, and this week, Dan Roth, Jeff Ross and Michael Harley bookend the other podcast topics with a pair from the Montreal Auto Show, the Mitsubishi Mirage and Honda Gear concept, and in between we talk about Toyota building all its US-market cars stateside, Hyundai building a Nurburgring test facility, Sergio Marchionne's latest words about Alfa Romeo, Dodge Dart powertrains and the future of Chrysler vans. Some chatter about the Ford Atlas concept finishes up the meat of the 'cast and then we wrap with your questions. For those of you who hung with us live on our UStream channel, thanks for taking the time. Keep reading for our Q&A module for you to scroll through and follow along, too. Thanks for listening!
Autoblog Podcast #317: