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Ford nets $924M in first quarter

Where General Motors' first-quarter 2015 financials showed growth in many major metrics, Ford's newly released numbers had falling figures in most of the vital categories. The automaker's Q1 revenue shrank to $33.9 billion, down $2 billion, and net income fell to $924 million, a $65-million drop. However, pre-tax profits increased slightly to $1.4 billion, $24 million more than in the same period in 2014, and operating margin rose to 3.6 percent, up 0.2 percent. Despite the less-than-stellar numbers, the Blue Oval thinks 2015 should be positive for the company. "The first quarter was a good start to a year in which our results will grow progressively stronger as the new products we have been launching start to pay off," CEO Mark Fields said in the financial announcement. The automaker has 15 vehicles to launch globally this year, and only three of them are already out. By the end of 2015, Ford predicts pre-tax profits of between $8.5 billion and $9.5 billion. In terms of vehicle sales, Ford slipped by 21,000 to a total of 1.568 million worldwide in the first quarter. North American sales dropped to 678,000, which was 39,000 less than last year, and pre-tax profits fell to $1.34 billion, a $160-million fall. The company explained the reductions on this continent as linked to the launches of the latest F-150 and Edge. In other major markets, European wholesales grew to 376,000 vehicles, a 9,000-car boost from last year. Pre-tax results there increased by $9 million, but the area still showed an overall loss of $185 million. In the Asia Pacific region, Ford moved 16,000 more units than in Q1 2014 to reach 366,000. However, due in part to preparing for new vehicles, the company only made $103 million there, a $188-million drop. The automaker released all of these figures as part of a PDF, which you can download here. Related Video:

Ford investing $500M in engine plant for 2.7L EcoBoost production

Ohio is a hot area for Ford at the moment with the announcement just a few weeks ago that production of the next-generation F-650/F-750 medium-duty trucks would move from Mexico to the Ohio Assembly Plant in Avon Lake, Ohio. Now, Ford is investing $500 million to hire 300 workers at its Lima Engine Plant in Lima, Ohio, to add production of the twin-turbo 2.7-liter EcoBoost V6 for the 2015 F-150.
The latest investment will be used to add a new flexible engine assembly system and renovate 700,000 square feet of the plant for machining and assembly areas. The Lima factory already builds Ford's 3.5-liter and 3.7-liter Duratec V6 engines. The plant opened in 1957, and it's on track to build its 40 millionth engine later this year.
Ford claims that the 2.7-liter EcoBoost will offer V8 performance with better efficiency in the F-150. It comes standard with intelligent stop/start that doesn't activate when the truck is towing or in four-wheel drive, and it's made from a combination of compacted graphite iron and aluminum for low weight and high strength. The company says that V6 engines have already proven popular in the F-150 with 57 percent of trucks in 2014 being equipped with either the naturally aspirated 3.7-liter or turbocharged 3.5-liter EcoBoost engines.

Ford won't be releasing GT500 lap times for the 'Ring, or any other car

Trucks have towing capacity, EVs have driving range and performance cars have Nürburgring lap times. What do all three have in common? They should all be taken with a grain of salt. Currently, there is no sanctioned way to record lap times or verify production-spec cars - a lesson we recently learned with the 2015 Nissan GT-R Nismo - and until there is a way to do so (and there probably never will be), we'll never officially know the actual time it took for Ford to lap the 'Ring with its ultra-powerful Shelby GT500.
After posting a Ford-made video of a 2013 GT500 running around the 'Ring, the guys over at SVTPerformance.com (an enthusiasts forum not affiliated with Ford or SVT) wanted more answers. They got in touch with Ford's Global Performance Vehicle Chief Engineer Jamal Hameedi, who said until there is a way to verify the times and inspect the cars, Ford will not get involved with lap-time wars. In the email, Hameedi pointed out that the 'Ring is a useful tool in that it allows a wide spectrum of track conditions, but until there is a governed way to record times, there is no way to accurately compare cars head-to-head.
And as much as some may not like it, Hameedi speaks the truth. It really isn't possible to compare times from one car to another, unless those cars were lapping the same track at the same time with the same driver. Not that any of this means there won't be continuous wars by fans and manufacturers alike... in other words, feel free to voice your opinions in the Comments below.