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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.

J Mays' legacy

Mays is by far not the first designer to use heritage design cues in his work.
The announcement that J Mays will be leaving his chief creative officer role at Ford Motor Company on January 1 ends a 13-year run in one of the industry's top design roles. While best known for having a hand in reborn classics like the Volkswagen New Beetle, Ford Mustang and Thunderbird (above), Mays' legacy is more complicated and nuanced than being considered the father of what is known as "retrofuturism".

Woman trades 1914 Model T in for 2013 Corvette

We're sure that dealers must see all sorts of interesting trade ins, but this one may take the cake. Red River Chevrolet in Bossier City, Louisiana, recently had a customer come in with an odd request. Tina Boyter wanted to trade in three vehicles on a brand-new 2013 Chevy Corvette. Among the hardware was 1980 Corvette, a 1978 Cadillac Eldorado and a 1914 Ford Model T. While the '80 Corvette had been her personal car for years, the '78 Eldorado had belonged to Boyter's mother before she traded up to a Lincoln. The big Caddy had just 10,290 miles on the clock when it was traded in.
And the Model T? Boyter says the car was built as a racer by Ford, and that it had been a show winner for years when it belonged to her father. But, after spending the last 16 years in a museum with its fluids drained, Boyter decided it was time to shed some of the past. She walked into the dealer, laid eyes on a white 2LT Corvette with a red interior and offered to trade all three of the vehicles in on the sports car.
Why not wait for the C7? "I fell in love with that one when I walked in the door," She said. We can't fault her there.