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Ford Q3 pretax profits drop to $1.18B

Following positive third quarter financial results recently from General Motors, rival Ford took a tumble in Q3. The automaker posted pre-tax profits of $1.18 billion, compared to about $2.59 billion in Q3 2013, a drop of around 54 percent. Net income also suffered with $835 million made in the quarter, versus $1.272 billion last year, a decline of about 34 percent. The Blue Oval blamed the gloomy figures on three reasons in its release: "lower volume, higher warranty costs and adverse balance sheet exchange effects."
There were problems of one kind or another in practically every region. North America experienced higher warranty costs than expected, partially due to recalls. The sales volume for the quarter was 665,000 units, versus 725,000 in Q3 2013, and pre-tax results amounted to $1.41 billion versus $2.296 billion last year.
South America and Europe both posted worse pre-tax results than last year. On the bright side, European volume was up slightly to 321,000 vehicles, from 303,000 in Q3 2013. The Middle East and Africa also lost $15 million, but that was an improvement compared to the $25 million loss previously experienced in this region.

Forza Motorsport 6's new drivable Hot Wheels cars are the best

Each month, Turn 10 Studios releases a new car pack for the latest installment of its Forza Motorsport video game. Sometimes that means less-than-exciting stuff coming to our Xbox Ones – BMW X6M, bleh – but this time our inner seven-year-old is beyond ecstatic. Two of the seven cars are based on actual Hot Wheels models. And. They're. Awesome. First we have the 2011 Hot Wheels Bone Shaker. Yes, there are flames on the side. And yes, there's a giant skull where the grille should be. This one came from the imagination of "Mr. Hot Wheels" Larry Wood, whose design was so popular it inspired an actual real-world creation. Like all good things in this world, it's powered by a small-block Chevy V8. Oh, and it has no roof. This will be a popular one among gamers. The other digitized Hot Wheels creation is a 2005 Ford Mustang. A modest vehicle, sure, but the toy designers have festooned this pony car with a wild paint scheme and the body mods to emphasize it. Originally developed to celebrate the 'Stang's 50th birthday, this Hot Wheels car trades Americana for wild Japanese style. There's just one functioning life-size version of this car in existence as well, but if you look hard, you might be able to find one of the 1:64 scale models that inspired it. Other highlights from this month's car pack include the latest Ford Focus RS – finally time to replace that NASCAR-V8-powered, all-wheel-drive 2009 Focus RS – the 2015 McLaren P1 GTR, the 2016 Chevrolet Camaro SS, the aforementioned X6M, and Alain Prost's 1990 Ferrari 641 F1 car. The Hot Wheels Car Pack is available for download today. Related Video: Featured Gallery Forza Motorsport 6: Hot Wheels Car Pack News Source: Turn 10 Studios via YouTube Toys/Games BMW Chevrolet Ferrari Ford McLaren Racing Vehicles Performance video games Hot Wheels forza motorsport chevy camaro ss forza motorsport 6

Ford adds third shift at F-150 plant to keep up with demand

The signs have been very positive for Ford's F-Series line of pickup trucks as of late, and after 24 consecutive months of increasing sales of the best-selling F-150, the automaker has added a third production crew at its Kansas City Assembly Plant that includes 900 new hourly workers to meet demand for the truck. This the first step in Ford's plan to add 2,000 hourly jobs at the plant to help meet demand for its trucks and to begin production of the new Transit van, the automaker says.
Despite some tough new competition, sales of the F-Series are the strongest they've been since 2006, according to Ford. The automaker sold 60,449 F-Series in July, the best sales figure for the mid-summer month since 2006, which also represents a 23 percent increase compared to July 2012. From January to July 2013, sales were up 22 percent compared to the same period last year.
Ford has committed to creating 12,000 hourly jobs by 2015, and with the 900 new employees added to the assembly plant in Missouri, the company says it has completed 75 percent of its goal. Ford has also invested $1.1 billion to retool and expand the Kansas City Assembly Plant to ready it for Transit production. Take a look at the press release below for more job and F-Series sales information.