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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.

May 2016: FCA wins, Ford and GM stumble on weak car volumes

The May 2016 sales numbers are in, and it looks as though FCA is getting some vindication for boldly cancelling two slow-selling car models. Meanwhile, Ford saw overall sales dip and GM's May volume took a big dive versus the same month in 2015. While Marchionne's decision to axe the Chrysler 200 and Dodge Dart has drawn criticism as being short-sighted, it's working for FCA so far. Although the Dart and 200 aren't out of production yet and no capacity has been shifted to crossover or trucks, May's numbers show that the emphasis on Jeep and Ram models makes sense right now. FCA's US sales rose 1 percent last month compared to May 2015, putting the year-to-date total at 955,186 vehicles, an increase of 6 percent compared to the same period last year. Standouts included the Jeep Renegade, Compass, and Patriot, and the Fiat 500X. Ram pickup sales were down 3 percent. And your fun fact is that Alfa Romeo sales were up precisely 10 percent, for a total of 44 4Cs sold versus 40 in the same month last year. At FoMoCo, the Ford brand took a hit to the tune of 6.4 percent from May 2015 to 2016, registering 226,190 sales last month. Lincoln showed improvement on its modest numbers, going from 9,174 to 9,807, a 6.9 percent increase. Overall, Ford was down 5.9 percent for the month to 235,997; despite the slump, year-to-date total Ford sales are up 4.2 percent to 1,112,939. Strong sellers included Escape, Expedition, F-Series, and Transit - big stuff. Most small and/or efficient models (Fiesta, Focus, Fusion, C-Max) saw sales slides. Fusion sales were also down, likely due to effects of model changeover to the freshened 2017 model. Ford has promised four new crossovers and SUVs by 2020 and if things keep trending this way the company will be able to sell them, but things could change in the next four years. GM saw the worst of it for domestic brands. Retail and fleet sales were down for each of the four divisions, with the May 2016 total dropping 18 percent to 240,450 vehicles. GM's year-to-date sales are down 5.0 percent in 2016 to 1,183,705. Both the Sierra and Silverado were down significantly, and the majority of Chevy, Buick, GMC, and Cadillac nameplates saw sales decreases, with both small cars and larger utilities included. Not even big stuff could help GM this month, it seems. We'll have more on the rest of the industry's May sales as those figures trickle in.

2023 Lincoln Corsair First Drive Review: Gimme back my buttons!

While 2023 brings only a refresh to the Lincoln Corsair, it’s a fairly robust one. It loses an engine, gains BlueCruise and receives an interior overhaul featuring a new infotainment screen running the latest version of Sync 4. Corsair may be LincolnÂ’s best-seller, but it competes against a variety of big-sellers in terms of both size and price. Take your pick from the likes of the Cadillac XT4, Audi Q3, Lexus NX or the BMW X1, just to name a select few; and soon they will be joined by Alfa RomeoÂ’s new Tonale, which lines up surprisingly well with the baby Lincoln. Like virtually everything in its class, the 2023 Lincoln CorsairÂ’s standard engine is a 2.0-liter turbocharged four-cylinder, which in this case produces 250 horsepower and 275 pound-feet of torque.  Gone is the previously available 2.3-liter upgrade that apparently wasnÂ’t popular. For 2023, the only other option is therefore the returning plug-in hybrid model, which produces a reasonable (and carry-over) 266 horses. Unlike the Escape PHEV on which itÂ’s based, the plug-in Corsair comes standard with all-wheel drive. With just 16 more horsepower compared to the 2.0T and more than 560 additional pounds to motivate, it relies on the instant torque of its electric motors to get off the line with authority. Lincoln gave us the choice of sampling either the standard turbo-four or PHEV for our quick outing in the Corsair; we opted for the plug-in for symmetry with our 2021 outing. As with virtually all midcycle updates, some exterior styling elements were updated or deleted. The grille is taller (and consequently larger) and is framed on the bottom by a new horizontal protrusion. PHEV models get a metallic foiling effect on the grille mesh. In the rear, itÂ’s business as usual. Inside, the dash is redesigned around a new 13.2-inch touchscreen running Sync 4.0. Besides an updated user interface (more on that later), the screen now houses virtually all of the media and climate controls that were previously located as buttons and knobs on the LincolnÂ’s center stack. All that remains on the consequently shrunken stack is a single volume knob and various vehicle controls like max defrost, auto stop/start and the hazard lights. The start/stop button has also been relocated next to the piano-key transmission controls. Through all of that, Lincoln managed to make access to the enlarged media storage bin easier. Yay?