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Ford posts decade-best $2.1B profit in Q1 2013

As predicted, Ford has reported that its first quarter of 2013 was a resounding success overall, with a pretax profit of $2.1 billion ($0.41 per share), and a net income of $1.6 billion ($0.40 per share). In fact, Ford made a pretax profit of some $2.4 billion in its home North American market, with that total number being pulled down by losses in South America and Europe. That gaudy North American profit is the strongest result by the automaker since 2000.
Ford's companywide profit for Q1 was down $147 million from one year ago, while the net income number marked an increase of $215 million year over year. Overall, this is Ford's 15th-consecutive profitable quarter.
The bad news from the European market was even worst in Q1 2013 than it was last year. Pretax losses of $462 million - on revenue of $6.7 billion - represented a year-over-year change of -$313 million. In South American, the company reported a loss of $218 million, down from a slim profit of $54 million in Q1 2012. The news was better for Ford Asia Pacific Africa, where a $6 million pretax profit in 2013 showed a year-over-year gain of some $101 million when compared to losses in 2012. Scroll down to read Ford's full press release.

Xcar gets the scoop on Ford's strategy for the GT at Le Mans in 2016

Ford's plan to return to the 24 Hours of Le Mans in 2016 with the latest GT might have been one of the worst kept secrets in motorsports in recently memory. Even before the road car debuted at the 2015 Detroit Auto Show, rumors were flying about the Blue Oval's strategy. The wait for the official announcement just before this year's race was certainly a long one, but it was probably worthwhile just to see the competition version's spectacular looks. Xcar recently got the chance to interview Ford about the company's objectives for the new racer's development. Both the GT racing and street programs are meant as ways to advance cutting-edge technology and potentially let it trickle down to less-expensive models in the future. This is especially the case when it comes to finding ways to make carbon fiber cheaper and better. Of course, the supercar is also a showcase of what Ford can do competitively, and apparently there are patent-pending suspension parts the company isn't even talking about yet. Ford would love to score a class victory at Le Mans next year, and is pretty clear here and in its earlier promo video that it sees Ferrari as a major rival in the race. While that makes sense historically, the cross-town competitors at Corvette could be an even bigger challenger. That squad has a more recent legacy of success in the 24-hour challenge, including a victory in the GTE-Pro class this year. Related Video:

Ford recalls 1.3 million Fusions, MKZs: Steering wheels could come off

When driving a car, the steering wheel is only expected to move in a rotational fashion, either clockwise or counter-clockwise. When it moves in some other direction, something is wrong, and when it moves the wrong way enough that it is no longer attached to the steering column, that's a really, really bad thing. And apparently, according to a recall issued by Ford, there are over 1.3 million Ford Fusions and Lincoln MKZs that are at risk of this happening. And at least two accidents and one injury have been attributed to the issue. Ford says the problem is that the steering wheel bolt that keeps the wheel attached to the column might not provide enough torque, resulting in the bolt slowly loosening and working its way off the column. The good news is that the fix is really simple. Ford will install a larger bolt with more threads along with a larger nylon patch to keep it all locked down. The fix is completely free to owners. Cars affected by the recall include 2014 to 2017 Fusions built built at the Flat Rock plant in Michigan between August 6, 2013, and February 29, 2016. Model year 2014-2018 Fusions and MKZs built at the Hermosillo factory in Mexico are also affected. So if you have one of those sedans, please get in touch with your local dealer to have the issue addressed. Related Video: