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Ford nets $5.7B in 2012, $1.6B in fourth quarter

Ford brought in $5.7 billion in net income during 2012, which is around $307 million less than one year prior. Even so, the automaker closed out 2012 with the highest pre-tax profit for a single quarter in nearly 10 years, earning $1.7 billion in the fourth quarter thanks largely to a higher-than-average truck mix in the US. That's a jump of $577 million over 2011. Likewise, that translated into fourth quarter income of $1.6 billion. All told, Ford set a full-year pre-tax profit record in 2012. But that doesn't necessarily mean everything is rosy in the land of the Blue Oval.
Like every other manufacturer, 2012 saw Ford get hammered in the European Union, where a deep economic recession continues to drive down consumer confidence. The automaker lost more than $700 million in Europe, and saw full revenue of $26.6 billion in 2012. That's a decline of $7.2 billion compared to last yea. Ford says the market for new vehicles in Europe has contracted to 13.5 million units, the lowest number in 17 years. You can read the full press release below for more information.

Ford board OK with Mulally stepping down earlier

Ford's board is open to CEO Alan Mulally stepping down before his planned departure in 2014, inside sources are telling Reuters. Ford's plan of succession, aside from who would be his actual successor, has been something approaching common knowledge - the 68-year-old former Boeing exec had plans to stay through 2014. This was recently confirmed by Mulally himself on Bloomberg Television and in Automotive News.
Motivation for the about-face comes from what Reuters calls a "growing confidence" in the current crop of Ford execs, led by Mark Fields. Fields, Ford's current chief operating officer, has been tipped as Mulally's ultimate successor, although he's far from the only person with eyes on Ford's top job. Normally, Ford's board saying they're open to an executive, that's done very well for the company, stepping down early would be nearly unremarkable. It's the timing of this announcement, though, that makes this a big piece of news.
Recently, Mulally has been the subject of rumors that he's interested in taking the CEO position at tech giant Microsoft. The Redmond, Washington-based company's CEO, Steve Ballmer, told the media in August that he'd be retiring in a year's time. The fires were stoked when tech website AllThingsD speculated that Mulally would take the top spot, despite denials from the man himself. Could Ford's current boss become the new top dog at Microsoft? Will Mark Fields replace him? Could recently departed Renault exec Carlos Tavares land at Ford in some capacity? Let us know what you think below in Comments.

Ford vandalizes the SEMA Show floor with 2014 Transit Connect

The Ford booth here at SEMA is practically a 1970s throwback with all these customized vans sitting front and center. And we're completely fine with that. Take the black and yellow (black and yellow, black and yellow) 2014 Transit Connect from Mobsteel above. It's got a great stance, sits on steel wheels and has a pretty cool paint job and graphics package to boot.
Of course, that's not the only van you can see at the Ford booth. In fact, there are 10 Transit Connect vans on display from Ford here at SEMA, and you can see them all in our live gallery of high-res images above. Then, if you want to know more about each specific model, feel free to scroll down to read all about these vans in the official press release from Ford.