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Ford books $2.6B pretax quarterly profit

While its crosstown competitors at General Motors are smarting over a drastic drop in net income to $200 million in the second quarter, Ford has reason to celebrate. The Blue Oval has announced its own Q2 financial results, including a growing net income of $1.3 billion, a $78 million increase over last year. Pretax profits for the company reached $2.6 billion, up $44 million from 2013, but total revenue dropped slightly to $37.4 billion, down from $37.9 billion. Profits per share before one-time charges totaled 40 cents per share, beating Wall Street analysts' expectations of 36 cents a share.
Regionally, the Blue Oval performed strongly, as well. North America posted a record quarterly pre-tax profit of $2.4 billion, a $119 million increase. Europe also showed signs of turn around with its first profit in three years of $14 million after a loss of $306 million in Q2 2013. Ford is actually predicting profitability in the troubled region in 2015. Asia Pacific operations also performed well with $159 million in profits, up $29 million from last year. The only region where the business posted a loss was South America.
According to Automotive News, Ford also announced more precise plans about the changeover to build the aluminum-intensive 2015 F-150. In August, the Dearborn plant will shutdown for eight weeks to retool and its Kansas City plant will do the same next year.

Is Tesla's next project an F-150 competitor? [w/poll]

What's the future look like for Tesla after it launches the Model X CUV and possibly a smaller, sub-Model S sedan? Would you believe a pickup truck? Yes, Tesla could be looking to use its EV know-how to take the fight to Ford and the F-150, based on comments made by company founder Elon Musk.
"If you're trying to replace the most gasoline miles driven, you have to look at what people are buying," Musk said during an impromptu Q&A session following a speech at Business Insider's Ignition conference. "[The F-150 is] the best selling car in America. If people are voting that's their car, then that's the car we have to deliver."
And while the idea of electric pickup may sound kind of absurd to some, Musk makes a very valid point - if Tesla's goal is to replace gas miles with electrical miles, it simply can't afford to ignore pickups.

Ford F-150 EcoBoost in NHTSA probe for acceleration issue

According to Automotive News, the National Highway Traffic Safety Administration is launching a probe into 400,000 Ford F-150 models over possible acceleration problems. According to the article, NHTSA has received 95 reports "alleging incidents of reduced engine power during hard accelerations" on 2011 to 2013 F-150 models equipped with the company's 3.5-liter EcoBoost V6 engine.
Automotive News reports that Ford has issued three technical service bulletins "related to intermittent stumble/misfire on acceleration from highway cruise in humid or damp conditions," according to the government agency's documents. About one third of the 95 reports NHTSA has received cited humid or rainy conditions when these problems allegedly occurred.
These technical service bulletins have allowed dealers to address a "condition related to moisture accumulation in the charge air cooler during extended highway cruising at constant throttle in humid or damp conditions," AN reports, citing NHTSA documents. Furthermore, the TSB outlines details for "reprogramming the powertrain control module with the latest calibration and installing a new CAC and air deflector plate."