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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.

Ringbrothers drops more hints about its wild SEMA creations

Ringbrothers isn't finished teasing its SEMA creations. First we got a sliver of rear quarter on a 1969 Chevrolet Camaro that revealed a bundle of carbon fiber and SEMA-obligatory deep-dish wheels. The Wisconsin tuner's now announced its litter of cars headed to the show and a few specs, along with two shadowy drawings. The Camaro, christened with the name Valkyrja and a two-tone paint job, gets stretched in two directions with severe fender flares to widen the body and an extended wheelbase. We're not sure what's happening with the Camaro's snout in the drawing, but under that bulging hood we'll find a 416-cubic-inch LS V8 from Wegner Motorsports. Wegner built the 416-cu-in supercharged LS3 V8 that powered Ringbrothers' 1,000-hp G-Code Camaro in 2016.  The second member of the gang is a 1969 Ford Mustang Mach 1 dubbed Unkl. The exterior begs for attention with a deep blue sea paint job, deep front chin spoiler, bulging hood, yellow brake calipers, and what looks like a racing number inside a roundel on the doors. Unkl gets its motivation from a 520-cu-in Boss V8 built by Kaase Racing Engines, rumored to throw about 800 hp.    Finally, Ringbrothers is bringing its Cadillac Madam V for another Las Vegas go-round after giving the custom coupe some updates. The Madam V is a 1948 Cadillac Series 62 fastback coupe body placed atop an ATS-V chassis, first shown in 2016. The firm didn't elaborate on the changes, so all we can expect for now are the coupe's postwar good looks mixed with new-millennium engineering, and a 3.6-liter twin-turbo V6 with 464 hp under that exceptionally long hood.    For any in attendance at the show, the Valkyrja Camaro debuts at the BASF booth on Tuesday, Nov. 5, 2019 at 9:30 a.m., the Unkl Mustang gets revealed a couple hours later at the Flowmaster/Holley booth, and the Madam V Cadillac will be on display throughout the show at the Ringbrothers booth.

What next for Alan Mulally?

Alan Mulally has emerged as a hero when it comes to American manufacturing. He came to Ford in 2006 after serving as head of Boeing's commercial aircraft division, streamlined operations, sold off the costly elements of its Premier Automotive Group and saved Ford from having to be bailed out by the federal government like its cross-town rivals Chrysler and General Motors did. But as we reported mere days ago, he's widely expected to step down from the chief executive's office at Ford shortly.
So what's next for one of the most successful executives in the business? Hard to say, but don't expect Mulally to disappear into retirement. Though he didn't ultimately take the top job at Microsoft, industry insiders expect to see him in another influential position - likely as a board director or even chairman of another company. (We say "another company" and not Ford because while Bill Ford may have stepped aside as CEO to bring Mulally on board in the first place, we don't see him giving up his chairmanship of the board also.)
Mulally has likely already lined up his next move, and could either announce what that move will be as soon as Ford confirms Mark Fields as his successor, or could wait awhile. Insiders speculate that he could leverage his transportation and aerospace experience into a position at General Electric or a major airline, his manufacturing expertise to benefit a company like Procter & Gamble or his management skills at a consultancy firm.