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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.

You can now order Domino's pizza from your Sync-equipped Ford

The news keeps pouring in from the Consumer Electronics Show now underway in Las Vegas, and the latest comes from Ford which has announced two new apps for its Sync AppLink system.
First up is a cooperative app launched by Ford together with Domino's Pizza that lets drivers of the former order pizza from the latter right from their car. The service allows those with Ford Sync AppLink in their car or truck and are registered with a Domino's Pizza Profile to place an order for their favorite pie using Dearborn's voice-recognition software for either pickup or delivery. Save your information in your Pizza Profile and it'll be sent to your house without even the push of a button, which strikes us as awesome a use of technology as we've ever seen.

Peel and Ford Transit do a great Austin Powers impression

It's no secret that the average fullsize cargo van is big. Like, really big. Expressing that size, though, without actually seeing the van in question, is a pretty tall order. When viewed from the right angle, even something as big as a cargo van can appear very small (look up forced perspective, to see what we mean). That's why it's always good to have a second object on hand, to provide a sense of scale. Ford took this simple idea to the extreme, illustrating the size of the new Ford Transit by pulling the world's smallest production car, the Peel P50, nose first into the van's 487-cubic-foot cargo area. That's no big deal, though, right? After all, at just 54 inches long and 39 inches wide, the Peel would fit quite happily in even the smallest fullsize truck bed. Ford takes it a step further, though. With the help of an actual reverse gear (we're guessing this is a CVT-equipped, electric model), the P50 manages to turn itself around and drive out. It does this in less than two minutes. So yeah, the Ford Transit is a pretty big van. Take a look below for the video from Ford. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Gallery Peel P-50 and Trident News Source: fordvideo1 via YouTube Auto News Humor Ford Minivan/Van Commercial Vehicles Videos ford transit