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Ford Q1 profits dragged down by warranty costs

General Motors isn't the only Detroit automaker posting falling profits in the first quarter. Ford just released its Q1 2014 financial data, and it reported a net income of $989 million, down $622 million from Q1 2013. The drop is partially blamed on higher warranty and recall expenses than the company had anticipated.
Financially, Ford suffered a rough quarter almost across the board. Its pre-tax profit of $1.4 billion was also down $765 million from a year ago. Things were even worse in the North American market where operating profit fell significantly to $1.5 billion, down from $2.392 billion in Q1 2013. However, its global revenue ticked up slightly to $35.9 billion, from $35.6 billion in this period in 2013.
Ford admitted that it spent about $900 million on expenses that it hadn't planned for during this quarter. According to Reuters, the company paid about $400 million in additional warranty and recall costs in North America. The automaker didn't explain why the costs were so much higher than expected. However, in the last three months, Ford has had several recalls, including on the 2001-2004 Escape for rust, Explorer for its steering, Edge for its fuel line and others.

Tesla Model 3, Ford In Mexico, French Return | Autoblog Podcast #473

Episode #473 of the Autoblog Podcast is here. This week, Dan Roth, Sebastian Blanco, and Brandon Turkus talk about the Tesla Model 3, Ford's most recent production investment in Mexico, the apparent demise of the Cadillac CT8, and a possible return of French cars to the US market. It all starts with the Autoblog Garage and finishes with some of your questions. Check out the rundown with times for topics, and thanks for listening! Autoblog Podcast #473 Topics Tesla Model 3 Ford Mexico Investment Cadillac CT8 apparently cancelled French cars coming back? In The Autoblog Garage 2016 Subaru Forester 2016 Mazda 6 GT Hosts: Dan Roth, Brandon Turkus, Sebastian Blanco Rundown Intro & Garage - 00:00 Tesla Model 3 - 18:00 Ford Mexico - 44:49 Cadillac CT8 - 49:43 French Cars - 51:22 Q&A - 56:15 Total Duration: 01:02:04 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show in iTunes

2020 Ford Police Interceptor Utility dominates Michigan State Police testing

The Michigan State Police has released its preliminary findings from testing the 2019 crop of police vehicles, and the results are a bit surprising. The consistent top performer of the bunch was the 2020 Ford Police Interceptor Utility, better known to civilians as the Ford Explorer. Specifically, the top performer was the model with the new turbocharged 3.0-liter V6. The Michigan State Police conducts acceleration, top speed, braking and lap time tests of all the available police vehicles. The 3.0-liter Police Interceptor Utility was the fastest to 60 mph at 5.77 seconds, had the highest top speed of 150 mph, and the best average lap time of 1:36.47. The lap time was particularly impressive as it was just over half a second faster than the next quickest car, the all-wheel-drive V8 Charger. View 13 Photos Still, the 2019 Dodge Charger gave the Explorer a serious run for its money. The all-wheel-drive V8 Charger was only 0.1 seconds behind the Explorer to 60 mph with a time of 5.87 seconds, and the rear-drive version was third quickest at 6.15 seconds. Both V8 Chargers were only 1 mph off of the Explorer's top speed, and the V6 example was third fastest at 141 mph. We already mentioned the all-wheel-drive V8 Charger was half a second off the Explorer's lap time, and the rear-drive variant was just over 1 second behind, giving it the third fastest average time. Dodge also took home braking bragging rights. The V6 Charger won out with a distance of 126.9 feet, followed by the rear-drive V8 Charger with 128 feet, and the V6 Durango Pursuit stopping at 128.8 feet. Now of course where there are winners, there are also losers. The slowest accelerating police car was the Ford Police Responder Hybrid Sedan, better known as the Fusion Hybrid, with a time of 9.24 seconds. At 8.59 seconds was the V6 Dodge Durango, and the V8 Chevy Tahoe with four-wheel-drive was third slowest at 7.98 seconds. Lowest top speed was 106 mph with the Ford F-150 Police Responder with the 3.5-liter turbocharged V6, followed by the V6 and V8 Durangos with 117- and 118-mph top speeds respectively. In braking, the Chevy Tahoes performed the worst with the rear-drive version stopping at 145.7 feet and the four-wheel-drive version stopping at 142.5 feet. The F-150 followed with 141.9 feet. When it came to lap times, the Fusion Hybrid lapped the slowest with a time of 1:46.31. The V6 Durango was about a second faster with a time of 1:45.45.