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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:

Rivian R1T, Mini Cooper Electric owners happiest with their EVs

The J.D. Power 2023 U.S. Electric Vehicle Experience (EVX) Ownership Study is out, and there's change at the top. With the swelling adoption of electric vehicles in the U.S. over in the past two years especially, the third year of the EVX study changes focus to first-time EV buyers. Those two factors encouraged change at the top of both premium and mass-market segments. Among premium EVs, the Rivian R1T pickup scored overall victory in its first year of eligibility with a satisfaction score of 794 out of 1,000. The Tesla Model 3 takes second place with 759 points. Tesla had won the top two premium spots in the study in 2021 and in 2022. The average score in the premium segment was 756. The Tesla Model Y (754), Audi E-Tron (735), and Polestar 2 (724) filled out the list of the five eligible models this year. Among the ten eligible mass-market vehicles, the Mini Cooper Electric nabbed the overall win by scoring 782. The Kia EV6 came second with 762 points, keeping Kia in the top two; the Kia Niro EV won the mass-market segment the previous two years. The Ford Mustang Mach-E (742), Hyundai Ioniq 5 (738), and Volkswagen ID.4 (735) completed the top five, the Niro EV (733) in sixth. All were above the segment average of 730. The four models fell below the segment average were the Ford F-150 Lightning (723), Chevrolet Bolt EUV (716), Chevrolet Bolt (711), and Nissan Leaf (698). How are the scores derived? J.D. Power worked with EV app maker and research firm PlugShare to get owner responses in ten areas: accuracy of stated battery range; availability of public charging stations; battery range; cost of ownership; driving enjoyment; ease of charging at home; interior and exterior styling; safety and technology features; service experience; and vehicle quality and reliability. Brent Gruber, executive director of the EV practice at J.D. Power, said, "Recent vehicle launches from both new brands and traditional automakers have had a profound effect on what factors are most important in the ownership experience. Today’s EV owners are looking for quality, reliability, driving enjoyment, safety and technology features." The Mini, in fact, scored highest of any premium and mass-market EV in the studyÂ’s highest-weighted index factor, quality and reliability.

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.