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Ford nets $924M in first quarter

Where General Motors' first-quarter 2015 financials showed growth in many major metrics, Ford's newly released numbers had falling figures in most of the vital categories. The automaker's Q1 revenue shrank to $33.9 billion, down $2 billion, and net income fell to $924 million, a $65-million drop. However, pre-tax profits increased slightly to $1.4 billion, $24 million more than in the same period in 2014, and operating margin rose to 3.6 percent, up 0.2 percent. Despite the less-than-stellar numbers, the Blue Oval thinks 2015 should be positive for the company. "The first quarter was a good start to a year in which our results will grow progressively stronger as the new products we have been launching start to pay off," CEO Mark Fields said in the financial announcement. The automaker has 15 vehicles to launch globally this year, and only three of them are already out. By the end of 2015, Ford predicts pre-tax profits of between $8.5 billion and $9.5 billion. In terms of vehicle sales, Ford slipped by 21,000 to a total of 1.568 million worldwide in the first quarter. North American sales dropped to 678,000, which was 39,000 less than last year, and pre-tax profits fell to $1.34 billion, a $160-million fall. The company explained the reductions on this continent as linked to the launches of the latest F-150 and Edge. In other major markets, European wholesales grew to 376,000 vehicles, a 9,000-car boost from last year. Pre-tax results there increased by $9 million, but the area still showed an overall loss of $185 million. In the Asia Pacific region, Ford moved 16,000 more units than in Q1 2014 to reach 366,000. However, due in part to preparing for new vehicles, the company only made $103 million there, a $188-million drop. The automaker released all of these figures as part of a PDF, which you can download here. Related Video:

2021 Ford Mustang Mach 1 is coming, and it's trivia time | Autoblog Podcast #629

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder and Associate Editor Byron Hurd. The big news this week is the new Mustang Mach 1 that Ford teased as a new track toy. John has been driving a Subaru Outback alongside their long-term Forester. Byron has been enjoying a Jeep Gladiator. Greg has been piloting a Toyota Corolla Hatchback as well as a new Highlander.  Greg tries to stump the other editors with some automotive trivia — see if you can answer (no cheating) in the comments section below. Then they talk about car movies they've been watching during quarantine and their favorite orphan car brands. Finally, they help a listener in The Netherlands pick a new electric crossover. Got any automotive trivia questions you want to hear on the podcast? Some (in)famous figure in the industry, a random fact about a car or a brand, racing history ... it can be straightforward or totally off-the-wall. Send those — along with your Spend My Money requests — to Podcast@Autoblog.com. Autoblog Podcast #629 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2021 Ford Mustang Mach 1 is coming Cars we're drivingSubaru Outback vs. Forester Jeep Gladiator Toyota Corolla Hatchback Toyota Highlander Automotive trivia Side topic: remember this guy? Best car movies for quarantine Best orphan brands Spend My Money: EV crossovers Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:

Ford Explorer is America's new favorite police car

There is a new vehicle that you should keep an eye out for when you're going a little too fast down the Interstate. Ford's Explorer-based Police Interceptor Utility was the bestselling new law enforcement model in the country last year, and signs show that won't be changing anytime soon.
Ford sold 14,086 Interceptor Utilities in 2013, up 140% from the year before, and 10,897 Interceptor Sedans, up 31%, according to USA Today. Overall, the brand's police sales were up 48 percent, and they were enough to boost the company's law enforcement vehicle market share by 9 points to nearly 50 percent.
The success comes just a few years after it made the decision to finally retire the long-serving Crown Victoria-based cruiser for two more modern vehicles. "We had to reinvent the category," said Chris Terry of Ford Communications to Autoblog. The automaker had to convince police departments that a unibody chassis without a V8 could perform better than a model that had been a law enforcement staple for years.