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Automakers donating money, vehicles and supplies to Oklahoma tornado relief effort

Judging by the destruction the Oklahoma City area experienced earlier this week, residents are going to need a lot of help in coming months. Fortunately, a number of automakers - including General Motors, Ford, Chrysler, Volkswagen, Honda and Toyota - have stepped up to donate money, supplies and vehicles to aid in the recovery and rebuilding processes.
Here's a quick rundown of which automakers have pitched in and what each contributed so far:
Ford Motor Company has donating $250,000 and a Transit Connect to the American Red Cross, and it will match all other donations made to the Red Cross (up to $250,000) using a special URL tied to the latter's website (link here). Additionally, its local Oklahoma dealers have thrown in an extra $150,000 for the United Way and the automaker will be offering an extra $500 toward the purchase of a new Ford vehicle.

Ford earnings take a dive on investment, slowing sales; workers get $6,900 in profit sharing

Ford Motor Company's pre-tax profits for 2014 took a beating, falling to $6.3 billion, a $2.3-billion drop from 2013, while overall revenues fell from $139.4 billion to $135.8 billion. Net income for 2014, meanwhile, plunged 56 percent, from $7.18 billion to $3.19 billion. Yeah, those aren't great numbers. While Ford's figures are largely down across the board, some of the weaker numbers aren't too difficult to explain away. The company launched 24 vehicles across the globe in 2014, including some of its biggest and most important volume models, like the 2015 F-150, as well as iconic offerings like the new Mustang. The result of this is both increased investment as well as a drop in total sales – US market numbers were down 164,000 units compared to 2013. Recall claims and high warranty costs also did a number on the Blue Oval. "2014 was a solid yet challenging year for Ford - with our investments and a record number of new products launched around the world positioning us for strong growth this year and beyond," Ford CEO Mark Fields said in a statement. Ford's 50,180 UAW workers in the United States will receive profit-sharing checks of $6,900. In some markets, Ford's fortunes were impacted by outside factors. Europe, for example, recorded more sales (up 70,000 units) and higher revenues (up $2.2 billion), but still reported a $443-million pre-tax loss. Blame was placed on the crumbling Russian economy, which has suffered from sanctions and slumping oil prices. Despite its troubles last year, the company still seems bullish on 2015. Ford's pre-tax outlook remains unchanged, as the company expects to make anywhere from $8.5 to $9.5 billion on the back of higher revenue from the company's automotive operations. We expect strong growth and improved financial performance in 2015 driven by our investments in new products and capacity," Ford CFO Bob Shanks said of the company's future.

GM says it favors fuel-efficiency rules based on historic rates

WASHINGTON — General Motors backs an annual increase in fuel-efficiency standards based on "historic rates" rather than tough Obama era rules or a Trump administration proposal that would freeze requirements, according to a federal filing made public on Monday. The largest U.S. automaker said the Obama rules that aimed to hike fleet fuel efficiency to more than 50 miles per gallon by 2025 are "not technologically feasible or economically practicable." The Detroit automaker said that since 1980, the motor vehicle fleet has improved fuel efficiency at an average rate of 1 percent a year. Fiat Chrysler Automobiles NV said in separate comments that the auto industry is complying with existing fuel efficiency requirements by using credits from prior model years. As a result, even if requirements are frozen at 2020 levels, "the industry would need to continue to improve fuel economy" as credits expire, it added, warning if the government hikes standards beyond 2020 requirements "the situation worsens ... without some significant form of offset or flexibility." Fiat Chrysler and Ford urged the government to reclassify two-wheel drive SUVs as light trucks, which face less stringent requirements than cars. A four-wheel drive version of the same SUV is considered a light truck. Ford backs fuel rules "that increase year-over-year with additional flexibility to help us provide more affordable options for our customers." GM's comments said it was "troubled" that President Donald Trump's administration wants to phase out incentives for electric vehicles. The Trump plan's preferred alternative freezes standards at 2020 levels through 2026 and hikes U.S. oil consumption by about 500,000 barrels per day in the 2030s but reduces automakers' collective regulatory costs by more than $300 billion. It would bar California from requiring automakers to sell a rising number of electric vehicles or setting state emissions rules. The administration of former President Obama had adopted rules, effective in 2021, calling for an annual increase of 4.4 percent in fuel-efficiency requirements from 2022 through 2025. GM has been lobbying Congress to lift the existing cap on electric vehicles eligible for a $7,500 tax credit. The credit phases out over a 12-month period after an individual automaker hits 200,000 electric vehicles sold, and GM is close to that point.