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Ford nets $924M in first quarter

Where General Motors' first-quarter 2015 financials showed growth in many major metrics, Ford's newly released numbers had falling figures in most of the vital categories. The automaker's Q1 revenue shrank to $33.9 billion, down $2 billion, and net income fell to $924 million, a $65-million drop. However, pre-tax profits increased slightly to $1.4 billion, $24 million more than in the same period in 2014, and operating margin rose to 3.6 percent, up 0.2 percent. Despite the less-than-stellar numbers, the Blue Oval thinks 2015 should be positive for the company. "The first quarter was a good start to a year in which our results will grow progressively stronger as the new products we have been launching start to pay off," CEO Mark Fields said in the financial announcement. The automaker has 15 vehicles to launch globally this year, and only three of them are already out. By the end of 2015, Ford predicts pre-tax profits of between $8.5 billion and $9.5 billion. In terms of vehicle sales, Ford slipped by 21,000 to a total of 1.568 million worldwide in the first quarter. North American sales dropped to 678,000, which was 39,000 less than last year, and pre-tax profits fell to $1.34 billion, a $160-million fall. The company explained the reductions on this continent as linked to the launches of the latest F-150 and Edge. In other major markets, European wholesales grew to 376,000 vehicles, a 9,000-car boost from last year. Pre-tax results there increased by $9 million, but the area still showed an overall loss of $185 million. In the Asia Pacific region, Ford moved 16,000 more units than in Q1 2014 to reach 366,000. However, due in part to preparing for new vehicles, the company only made $103 million there, a $188-million drop. The automaker released all of these figures as part of a PDF, which you can download here. Related Video:

We drive the Bronco Sport Sasquatch, Hummer EV SUV and more | Autoblog Podcast #846

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. Zac recently went down to Tennessee to drive a prototype of the 2025 Ford Bronco Sport Sasquatch. Meanwhile the two also spent time in the 2024 GMC Hummer EV SUV, 2024 Mercedes-AMG GLA 35 and 2024 Lexus LS 500h out of the fleet in Michigan. In the news, Rivian deals with a fire at its Normal, Illinois plant, Formula 1 comes back strong, and Volkswagen prices the ID.Buzz. Lastly, the two debate what old, executive sedan you should buy in a Spend My Money segment. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #846 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2025 Ford Bronco Sport Sasquatch 2024 GMC Hummer EV SUV 2024 Mercedes-AMG GLA 35 2024 Lexus LS 500h News Fire at the Rivian factory Formula 1 is back Volkswagen ID.Buzz gets a very high price Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video:  We check out the Rivian R1S and R1T along with 3 other surprises This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Next-gen Ford Cobra Jet development underway, but will it be a Mustang?

Ford might be stepping away from the NHRA, but it isn't abandoning drag racing altogether. Hot Rod says that Ford confirmed a next-gen Cobra Jet factory drag racer is in the works, but the report also speculates that a new Cobra Jet could switch away from the Mustang nameplate.
Even though talk of a new Cobra Jet coincides with the all-new 2015 Mustang, the lack of confirmation for the dragster's platform leaves Hot Rod to guess that the car might switch to another platform - specifically a front-drive-based, unibody car like the Fusion or Taurus. We'd hate to think of a world with a NASCAR-ized dragster from Ford Racing, but it's also highly unlikely that the Mustang Cobra Jet would step away from its quarter-mile rivals like the Chevy COPO Camaro and Dodge Challenger Drag Pak.