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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 dealer loses Super Bowl bet, pays $300K to lucky customers [w/video]

A Missouri Ford dealership's Super Bowl weekend sale cost it big when the improbable happened. Hutcheson Ford ran a promotion from January 29 to February 1, called the Super Weekend Sale. The gist was, if any customer purchased a vehicle between those dates and either the opening or second-half kickoff of the big game was returned for a touchdown, the dealership would refund the purchase price.
In the dealership's defense, it seemed like a safe bet. According to the mathematicians, there was just a 2.5-percent chance of either half opening with a touchdown return. But that didn't stop Seattle's Percy Harvin from doing his part to ruin Denver's evening, returning the second-half kick for an 87-yard touchdown run. Twelve Hutcheson customers were eligible for refunds thanks to the return, with prices ranging from $10,000 to $55,000, according to Automotive News. The total amount shelled out by the dealership? $300,000.
"At least we're not like that furniture guy that lost $7 million," dealership marketing manager Kathleen Frazier told AN. We think it was a big success." The dealership did take out insurance to cover its losses, meaning the $300K won't come entirely from its pockets.

New upscale Ford Taurus revealed in Shanghai

As much as the Ford Taurus may have going for it, we wouldn't classify it as a luxury sedan as much as a mass-market one. The story is different in China, however, where Ford has introduced an altogether more upscale version of the Taurus. Shown this weekend at the Shanghai Motor Show, the Chinese-market Taurus is longer and more luxurious than the sedan we know on these shores. For starters, its wheelbase has been stretched from 113 inches to 116. That means more legroom for the rear seat; useful in a market where the vehicle's owner is often chauffeured. Those rear seats can power-recline as well, with adjustable lumbar support and massage function. A fold-down armrest holds with controls for the seats, air-con and audio system. And panoramic sunroof tops the whole affair. That commodious cabin is wrapped in revised sheet metal that's designed to look decidedly more upscale as well. Power is provided by a 2.7-liter twin-turbo EcoBoost V6 of unspecified output but which produces 315 horsepower in the Ford Edge, 325 in the F-150 and 335 in the Lincoln MKX. This version of the Taurus is earmarked specifically for the Chinese market for the time being, and set to be produced locally at the Changan Ford plant in Hangzhou. Scope out the images in the slideshow above and the details in the press release below for a closer look at Ford's new Chinese flagship. Related Video: 2015-4-18 | Shanghai, China New Ford Taurus Sets a New Benchmark for Large Sedans in China - Ford Taurus, a new premium business sedan for China, combines expressive design, exceptional craftsmanship and advanced technology - Taurus is the latest vehicle delivered as part of Ford's commitment to bring 15 new world-class vehicles to China by 2015 - Powerful, confident and inviting exterior design is matched by a spacious and elegant interior with carefully chosen materials for a sense of prestige - New high-output twin-turbo 2.7-liter EcoBoost V6 engine offers effortless power with high efficiency - Taurus will be manufactured at new $760 million Changan Ford Hangzhou plant Introducing a new premium sedan for discerning Chinese business customers, Ford today unveiled the new Ford Taurus at a special event in Shanghai. Designed especially to meet the needs of the Chinese market, the vehicle brings the historic Taurus nameplate to China for the first time.