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Ford reports $3B profit in Q4, $6.9B for the year

Good news out of Dearborn today, as Ford announced $3 billion in profit for the last quarter of 2013, a 90-percent increase over the same period of 2012. Net income for all of last year, meanwhile, jumped to $7.2 billion from $5.7 billion in 2012, while pre-tax profits sat at a decade-topping $6.9 billion for all of 2013.
The results of the substantial profit increases are bigger profit-sharing checks for UAW employees. How big? A record $8,800 on average for 47,000 UAW workers, making 2013 the biggest year for profit sharing in Ford history. In total, $414 million will be paid as part of the profit-sharing scheme.
Now, it should be pointed out that a fair portion of Ford's Q4 profits were due to tax benefits, totaling $2.1 billion, according to Automotive News. Total profits would have also been higher, had there not been a significant recall on the Escape, as well as plant issues in South America.

An in-depth look at the Ford GT with Xcar

Ford made big waves when it unveiled the new GT at the Detroit Auto Show this past January. But as far as details go, it's been rather quiet. Though Dearborn has revealed what engine will sit between those buttresses, it hasn't told us exactly how many horses or torques it will produce, or precisely how fast we should expect it to propel the new all-American supercar. Fortunately, the automaker let the crew at Xcar into the studio to give us a quick, four-minute rundown of all the information that is out there at the moment, along with all the most intriguing angles of the vehicle's design. The historically savvy among us will already know that the new 2016 Ford GT traces its roots back to the GT40 that conquered Le Mans half a century ago, and through the previous Ford GT that debuted a decade ago. Both of those featured V8 engines (supercharged in the latter case) while their modern successor goes with a twin-turbo V6. But as Xcar points out, six cylinders aren't without their precedence in the history of the GT-series Ford supercar: the GT70 rally car of 1970 originally packed a 2.6-liter V6. That engine was later replaced by a 1.6-liter inline-four, which puts another crack in the theory of the eight's hegemony over the history of the series – as does, we'll point out, the Bugatti-like quad-turbo V12 that featured in the GT90 concept of 1995 that sadly never made production. The point is that divergence from V8 tradition shouldn't dissuade anyone from getting excited over the arrival of the new GT, and we're looking forward to seeing what she can do – on and off the track. Related Video:

2023 Chevy Colorado, GMC Canyon and Ford Maverick Tremor | Autoblog Podcast #741

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor Jeremy Korzeniewski. In the news, GM has revealed the 2023 Chevy Colorado and teased the 2023 GMC Canyon. The Chevy Silverado EV has surpassed 100,000 reservations. A new Mustang will be revealed in Detroit next month. Sebastian Vettel will retire from F1 following this season. Also, the 2023 Ford Maverick Tremor has been revealed. Our hosts talk about old muscle cars, and how they weren't as fast as we thought. We've been driving the Lexus LC500 Convertible and the turbocharged Mazda3 Hatchback. Jeremy just got home from driving a new electric UTV from Polaris. Finally, we reach into the mailbag to help a listener decide on a used van. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #741 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown News 2023 Chevy Colorado revealed, with ZR2 and new Trail Boss 2023 GMC Canyon teased, debuts August 11 2024 Chevy Silverado EV passes 150,000 reservations New Ford Mustang will debut Sept. 14 at the Detroit Auto Show Sebastian Vettel will retire at end of 2022 F1 season 2023 Ford Maverick Tremor gets some real off-road chops Feature: Our old muscle cars aren't as fast as we thought they were Cars we're driving 2022 Lexus LC500 Convertible 2022 Mazda 3 turbo hatchback 2022 Polaris Ranger XP Kinetic electric UTV Spend My Money: Van edition Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: