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Ford books $1.2B profit in second quarter on strength of trucks

Ford is rolling along nicely, with a positive second-quarter sales report and a $2.3 billion profit in North America. The Dearborn, Michigan-based manufacturer captured $1.2 billion globally from April to June, with a $177 million profit in Asia. Even in Europe, the land of doom and gloom for automakers not named Mazda, Ford saw some success as it lowered its expected full-year loss from $2 billion to $1.8 billion. The company lost $348 million in Europe during the second quarter, which, believe it or not, represents a $56-million improvement over 2012.
According to the report on CNBC, Ford enjoyed a three-percent increase in pre-market trading thanks to the news. The strong demand for the F-150 propelled growth in the US market, while Ford's 47-percent increase in Asian sales can be attributed to the new EcoSport crossover and Kuga (Ford Escape in the US) arriving in the somewhat fragile Chinese market.
Pre-tax profits for Ford are expected to be in the neighborhood of $8 billion by the end of the year, with sales the US, Europe, and China all looking up. The company also shifted $4.78 billion of asset-backed debt in the form of bonds, according to a report by Bloomberg. This move came amidst rumors of the Federal Reserve cutting back on its $85-billion-per-month bond purchases. Ford wasn't alone among automakers looking to sell off debt, though, as Mercedes-Benz and Nissan shifted around $1 billion each in bonds relating to auto loans.

Weekly Recap: 2016 CTS-V gives Cadillac new momentum for the new year

It's been a rough year for Cadillac. The historic luxury carmaker been in the news for all of the wrong reasons: Declining sales, ditching its advertising agency and the relocation of its headquarters from Detroit to New York. But in late December, Cadillac reminded everyone what it does best: Build some of the rawest and most compelling luxury sedans in the world, as evidenced by the 2016 CTS-V. This monster churns out 640 horsepower from a supercharged 6.2-liter V8. Sound familiar? That's the Corvette Z06 engine, and it makes this CTS the most powerful production Cadillac ever. It also puts the sporting divisions of the Germans on notice. The new CTS-V easily overpowers the Mercedes-Benz E63 AMG S 4Matic and its 5.5-liter biturbo V8 rated at 577 hp, and the BMW M5 (with the competition pack) and its 4.4-liter twin-turbo V8 that pushes out 575 hp. The rear-wheel drive Cadillac can sprint to 60 miles per hour in 3.7 seconds, which is close to the 3.5-second time turned in by the 4Matic-driven E63 S, and a bit quicker than the 4.1 seconds posted by the M5. With Magnetic Ride Control, General Motors' stout eight-speed automatic transmission (also used in the Corvette), Brembo brakes and a carbon-fiber option package that pretty much builds your car out of carbon fiber – it's clear this Cadillac means business. Truth be told, we expected this CTS-V to deliver. It's been a serious sports sedan for a decade, and the recent generation and its 556-hp arrogance have been particularly memorable. But notice what we're doing here? We're talking about product. Not who makes Cadillac's ads, or if the brand's headquarters has a mailing address in NYC. Like the 2016 ATS-V that's due in the spring, the debut of the 2016 CTS-V (on sale in late summer) is a shot in the arm for Cadillac, and its arrival comes during time of transition. The brand is trying to reinvent itself as a modern luxury maker. It wants new customers, a different image and obviously more sales. Those things are going to take time, but with a 640-hp sledgehammer of a sports sedan on tap for next year, Cadillac can still maintain some of its swagger through all of the change. Other News And Views 1984 Audi Sport Quattro heads for the auction block If you're into '80s rally cars, you're really a car person. But if you're into that stuff – and we are – this 1984 Audi Sport Quattro is sure to get your blood flowing.

2016 Ford Explorer First Drive [w/video]

I was still young and impressionable when Jurassic Park hit the big screen, and that movie forever imprinted the Ford Explorer in my mind. You remember the scene, but I'll describe it anyway: It's dark, raining and there's no power. The off-screen footsteps of a tyrannosaurus send shockwaves through the standing water in a plastic cup and the rain-soaked muddy roads. Seconds later, the toothy end of the movie's biggest predator crushes through the roof of a highligher-green-and-yellow Ford Explorer, causing all manner of mayhem to the SUV's occupants inside. It's not lost on me that the Ford Explorer used in the movie is, in reality, a dinosaur itself. When the seminal Explorer hit the scene in 1991 it was based on the guts of the Ranger pickup truck, which was no spring chicken itself. Ford's first real foray into the then-burgeoning SUV marketplace was meant to compete against vehicles like the Jeep Cherokee and Chevy Blazer, along with Japanese models such as the Nissan Pathfinder and Toyota 4Runner. In those early days, none of these vehicles were sold based on the merits of their car-like ride and handling or superior fuel economy. Nowadays, the discerning car shopper wants the looks of an off-road-ready SUV, but the inherent compromises and need for any serious rock-crawling capability faded away years ago. The current Ford Explorer is a prime example of this successful visual hypocrisy, with its SUV-like styling listed as the number-one reason for buying on customer surveys. SUV-like styling is one thing, SUV-like guts are another. In 2011 the Explorer went from its traditional truck-based chassis to Ford's D4 platform, based loosely on the Taurus and shared with the Flex. As with the rest of the unibody crossover world, that means the current Explorer offers an excellent ride, the higher seating position that buyers want, and a useful third row for growing families. None of that inherent family-car goodness goes away for 2016. With class-leading sales already in the bag, Ford hopes its latest Explorer will attract new buyers due to the availability of a 2.3-liter EcoBoost four-cylinder engine and an upper-crust Platinum trim level. Based on some time sitting inside and inspecting the high-content Platinum model (albeit without a drive in this trim level) I believe Ford's claim that this is most luxurious vehicle ever to wear a Blue Oval. Only not all its ovals inside are blue.