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Ford nets $5.7B in 2012, $1.6B in fourth quarter

Ford brought in $5.7 billion in net income during 2012, which is around $307 million less than one year prior. Even so, the automaker closed out 2012 with the highest pre-tax profit for a single quarter in nearly 10 years, earning $1.7 billion in the fourth quarter thanks largely to a higher-than-average truck mix in the US. That's a jump of $577 million over 2011. Likewise, that translated into fourth quarter income of $1.6 billion. All told, Ford set a full-year pre-tax profit record in 2012. But that doesn't necessarily mean everything is rosy in the land of the Blue Oval.
Like every other manufacturer, 2012 saw Ford get hammered in the European Union, where a deep economic recession continues to drive down consumer confidence. The automaker lost more than $700 million in Europe, and saw full revenue of $26.6 billion in 2012. That's a decline of $7.2 billion compared to last yea. Ford says the market for new vehicles in Europe has contracted to 13.5 million units, the lowest number in 17 years. You can read the full press release below for more information.

Editors’ Picks October 2022 | Electric trucks and some excellent SUVs

This month sees a bevy of totally new or totally redesigned cars gain Editors’ Pick status. Important EVs like the F-150 Lightning and GMC Hummer EV quickly jump into the list, and they do so with authority, as all our editors love these trucks. The Range Rover is always a superb experience, and this generation proves to be no different. Plus, the new generation of Kia Sportage continues to surprise and impress. In case you missed our previous Editors' Picks posts, hereÂ’s a quick refresher on whatÂ’s going on here. We rate all the new cars we drive with a 1-10 score. Cars that are exemplary in their respective segments get EditorsÂ’ Pick status. Those are the ones weÂ’d recommend to our friends, family and anybody whoÂ’s curious and asks the question. The list that youÂ’ll find below consists of every car we rated in October that earned an EditorsÂ’ Pick. 2022 GMC Hummer EV The Four-Wheel-Steer system lets the 2022 GMC HUMMER EV Pickup m View 17 Photos Quick take: The Hummer amazes as an electric supertruck with its wild acceleration, incredible off-road capability, luxuriousness and epic utility. It's far from a "green" eco-friendly vehicle, but that's not the point of this technological powerhouse. Score: 8.5 What it competes with: Rivian R1T, Ford F-150 Raptor R, Ram 1500 TRX Pros: Stupid quick, tons of tech, off-road capability in spades Cons: Not efficient, annoying in tight spaces, price From the editors: Road Test Editor Zac Palmer — "I don't think I've driven a more ridiculous vehicle this year, but that's sort of the point with the Hummer. There's a great argument against this sort of EV in that it doesn't live up to being an efficient and planet-friendly vehicle, but hey, that's not the point. The Hummer EV is a supertruck and wild technological masterpiece for off-roading in the same way that a mid-engine supercar is to track performance. It's not meant to be the EV everybody drives to work and back (mostly because few can afford it), but it serves as a line in the sand of what can be done with electric off-road trucks. This pickup rules, and if you can afford one, you're going to love it." Senior Editor, Green John Beltz Snyder — "This Hummer revival is a showcase of technology and capability on the part of GM, making it an absolute blast to drive and a joy to use.

Xcar shows how to drive the Ford Model T

A couple of weeks ago Xcar posted a teaser review of the Ford Model T, a look at what the British duo would have been doing if they'd been doing their thing for 100 years. Now we have their complete, 12-minute take on the what might be, as they say, "arguably the most important car of the 20th century." Thankfully, instead of just a review, Xcar spends about half the time giving us a tour of history, from Ford's early days working for the Edison Illuminating Company to his racing days and founding of several car companies that either died or became other car companies after he left, like Cadillac. They also line up the pieces and the sales realities that led to Ford implementing – not creating, mind you – assembly-line production of the Tin Lizzie. And then they get into how crazy it is to drive, like how a driver needs two of the three pedals, the handbrake lever and a steering column stalk to get into high gear. Enjoy the video above on a 100-year-old car that is "unbelievably comfortable," "mildly terrifying" and ready to do just about anything.