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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.

Recharge Wrap-up: Custom Nissan Leaf video, Shell's Arctic oil plans

A video shows a customized Nissan Leaf. An owner in Japan slapped a pretty spiffy body kit on his EV, along with some Forgiato custom wheels and brakes. There's no telling what effects these modifications have on the car's aerodynamics or driving range, but it definitely gives the leaf a unique and sporty look. Check it out in the video above, and read more at Ecomento. Shell has big plans to drill for oil in the Arctic Ocean. With 13 percent of the world's undiscovered oil resting beneath those frigid waters, the company sees this new frontier as promising, despite the challenges involved in exploiting it. So far, Shell has spent $7 billion on Arctic operations without having extracted any oil yet. Of course, the idea of Arctic drilling has loads of opposition from concerned individual and organizations concerned with the environmental hazards of extracting oil in the icy north. Read in-depth about Shell's plans at Bloomberg. Ford has won the Altair Enlighten Award for its lightweight technology in the F-150. The award program honors automotive innovations in weight reduction. Ford was recognized for shaving 700 pounds off of the F-150 while improving performance and safety. "It's encouraging to see Ford implementing a holistic lightweighting strategy, which resulted in impressive weight savings that were incredibly significant to the judging panel," says Altair's Vice President of Global Automotive, Dave Mason. General Motors was the runner-up, with its weight savings in the Cadillac ATS and CTS. Read more at PitchEngine. The Diesel Technology Forum has outlined environmental improvements in heavy-duty vehicles at a rulemaking hearing in front of the EPA and NHTSA. Between 2010 and 2014, clean diesel technology reduced carbon emissions equal to that of 2.4 coal-fired power plants, and NOx emissions equal to 158 coal plants. New rules would help further improve the environmental performance of diesel engines. "Advances in diesel engine technology will continue to contribute to the overall efficiency gains of vehicles under this proposed rule," says Diesel Technology Forum Executive Director Allen Schaeffer. "As a result we expect diesel technology to remain the primary power-plant for commercial trucks into the foreseeable future." Read more in the press release below. Clean Diesel Power Key Part of Achieving Future Truck Efficiency Gains, EPA Officials Told -- Diesel Technology Forum CHICAGO, Aug.

2015 Ford F-150's aluminum body not expected to hurt resale value

A cloud of skepticism has hung over the 2015 Ford F-150 since even before it went on sale. The issue had nothing to do with the truck's capabilities but instead over reservations about the switch to aluminum body panels. The change helped shed about 700 pounds off the scales, but the lighter metal also came with the potential for higher repair costs. Edmunds even recently whacked its pickup with a hammer just to find out how much it would cost. However, this might not be a problem, because the latest calculations indicate resale value for the new F-150 is on the rise. The residual experts at ALG estimate that the 2015 F-150 is going to hold 58 percent of its value over the next three years, versus 52 percent for the 2014 model, according to Bloomberg. That figure also gives the Ford the highest forecasted resale value among American fullsize pickups. The 2015 Toyota Tundra leads the segment by holding 63 percent. Meanwhile, the 2015 Chevrolet Silverado and GMC Sierra both come in with 51 percent, and the Ram 1500 holds 46 percent. Finally, the 2015 Nissan Titan comes in at 42 percent. The researchers believe that the improvement in fuel economy for the 2015 F-150 at up to 26 miles per gallon highway offsets higher body repair costs. "We are giving credit for the aluminum construction in the fuel efficiency we're seeing," Eric Lyman, ALG vice president of industry insights, said to Bloomberg. "We are not putting in a negative adjustment for concerns around repair costs or durability associated with aluminum." Ford has long-been preparing for the switch to aluminum. The company purposefully designed the body sections to make repairs easier, and it also partially subsidized dealers' investments for new equipment to do the work. Related Video: