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Ford books $1.2B profit in second quarter on strength of trucks

Ford is rolling along nicely, with a positive second-quarter sales report and a $2.3 billion profit in North America. The Dearborn, Michigan-based manufacturer captured $1.2 billion globally from April to June, with a $177 million profit in Asia. Even in Europe, the land of doom and gloom for automakers not named Mazda, Ford saw some success as it lowered its expected full-year loss from $2 billion to $1.8 billion. The company lost $348 million in Europe during the second quarter, which, believe it or not, represents a $56-million improvement over 2012.
According to the report on CNBC, Ford enjoyed a three-percent increase in pre-market trading thanks to the news. The strong demand for the F-150 propelled growth in the US market, while Ford's 47-percent increase in Asian sales can be attributed to the new EcoSport crossover and Kuga (Ford Escape in the US) arriving in the somewhat fragile Chinese market.
Pre-tax profits for Ford are expected to be in the neighborhood of $8 billion by the end of the year, with sales the US, Europe, and China all looking up. The company also shifted $4.78 billion of asset-backed debt in the form of bonds, according to a report by Bloomberg. This move came amidst rumors of the Federal Reserve cutting back on its $85-billion-per-month bond purchases. Ford wasn't alone among automakers looking to sell off debt, though, as Mercedes-Benz and Nissan shifted around $1 billion each in bonds relating to auto loans.

Ford Focus Electric and ST recalled over lighting issue

Ford is recalling 6,308 units of the 2012 and 2013 Focus Electric and 2013 Focus ST that were fitted with HID headlights because a "wiring incompatibility" could keep the front side marker lights from working. A bulletin from the National Highway Traffic Safety Administration says the recall should begin in the middle of this month, after which owners can take their cars to dealers to have the wiring assembly repaired free of charge.
You can find more information in the NHTSA bulletin posted below.

Ford F-250 boots Cadillac Escalade from atop thieves' most-wanted list

The Ford F-Series has been America's best-selling truck for decades, but along with the good comes the bad, apparently. In addition to being popular with consumers, the Highway Loss Data Institute notes that the F-Series Super Duty has risen in popularity among thieves. Based on its new study, the four-wheel drive crew cab F-250 Super Duty has topped the list for the country's highest rate of insurance theft claims, knocking the Cadillac Escalade from the top spot - a distinction the luxury SUV has held since this annual report was first established in 2003.
To reach its findings, HLDI looks at theft data from the previous three model years (in this case 2010-2012) to determine the frequency of claims for a particular make and mode,l as well as the average payment per claim. As the report points out, the claims aren't always for the theft of the entire vehicle - they can include components (say, wheels and tires) or property taken from the vehicle. At seven claims per 1,000 insured vehicles, the F-250 is six times more likely to suffer a theft claim than the average vehicle.
The Cadillac likely dropped from the top of the list to sixth due to additional theft-prevention features including a steering wheel lock and inclination sensor for the alarm, but GM's other fullsize trucks and SUVs still occupy eight of the list's 10 spots. Some of the least stolen vehicles with below-average loss payments include the Lexus HS250h, Hyundai Tucson, Honda CR-V and Dodge Journey. Head on over to the HLDI's website for the full list that shows the most and least popular vehicles among thieves from 2010 through 2012.