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Ford could post best-ever profits in Q1 2013

Analysts are saying that Ford Motor Company may have earned a record $2.7 billion pretax profit in North America during the first quarter of 2013, a number that represents its highest first quarter profit ever. The impressive earnings are further proof that the American automaker is making a solid comeback as the economy begins to recover.
Morgan Stanley and JP Morgan Chase are estimating that Ford's first quarter North American profit may have topped 12 percent. The firm cited the automaker's fresh lineup, but noted that CEO Alan Mulally needs to uphold the pace as the company works to gain ground in the car and utility segments.
Ford's success has been led by increased demand for its F-Series pickup, the best-selling vehicle in the US for 31 years, and by the Fusion sedan that recently recorded its best-ever quarterly sales in the domestic market. Ford is expected to release its first-quarter revenue on Wednesday, of this week.

Ford gets out of car subscriptions, sells Canvas to rival Fair

Ford says it’s selling its Canvas subscription service to competitor Fair, getting out of the subscription game after less than three years. Terms of the deal were not announced. Ford acquired Canvas in 2016 as a wholly-owned subsidiary based in San Francisco as a service to pilot subscriptions to Ford and Lincoln vehicles, eventually rolling out to Los Angeles and Dallas. The company said it had amassed around 3,800 subscribers in that time, who will have the opportunity to join Fair when their current subscriptions end and will receive more information from both subscription companies. But that number pales in comparison with Santa Monica, California-based Fair, which claims more than 45,000 subscriptions in 30 markets since launching in 2017. Ford was always fairly quiet about Canvas, and Automotive News last year reported that Lincoln executives expressed surprise over soft demand, saying that subscribers were looking for short-term solutions and often dropped out after just a few months. Ford is also in cost-cutting mode under CEO Jim HackettÂ’s $11 billion restructuring plan. The Blue Oval joins Cadillac, which put its $1,800-a-month Book By Cadillac subscription service on ice late last year, citing higher costs and fewer customers than expected. Cadillac has pledged to eventually relaunch the service as a pilot in select cities, but mumÂ’s been the word since. More recently, VolvoÂ’s Care by Volvo subscription service has come under scrutiny from dealers and an investigation from the California Department of Motor Vehicles and has made changes to its program. Thought it also has added the XC60, XC90 and V60 to the list of available vehicles. Fair touts itself as a “commitment-free” solution, with all-inclusive plans covering 24-7 roadside assistance, routine maintenance, insurance and other perks. It uses a mobile app to get customers prequalified, and it analyzes their eligibility and targets an affordable range of monthly payments. Customers then shop for cars and sign up for one via an initial payment that ranges by vehicle type, with the ability to keep the cars as long as they want and drop the service at any time. It peddles used cars from more than 30 different brands, none more than six years old or with more than 70,000 miles on the odometer. Fair on Tuesday announced it has raised $500 million in loans from a group of creditors, including Mizuho Bank and Japan's SoftBank, as it looks to expand its leasing services to Uber drivers.

Should reflective paint earn automakers EPA credits?

No matter where you look around the world, governments are cracking down on vehicle emissions and aiming for higher fuel economy standards. Generally, automakers are pushing back against the increased regulation, and in the US, General Motors, Ford, and FCA US are looking for new compromises. The Big Three want to the EPA to grant them retroactive emissions credits for using tech that they claim reduces CO2 but not on the government agency's on-road testing. Among these technologies are things like reflective paint and glass, LED lights, ventilated seats, stop/start, and more efficient air conditioning compressors. Starting with the 2014 model year, the automakers can receive credits for a few grams per mile reductions on models with some of these solutions, according to Automotive News. However, the companies are also petitioning the EPA to make the credits apply to earlier vehicles with them, as well. The emissions advantages for systems like stop/start and less polluting AC refrigerants seem fairly obvious. For reflective paint and glass, the belief is that keeping a vehicle interior cooler should mean a lower need for air conditioning and therefore a decrease in CO2. Margo Oge, the former boss of the EPA's Office of Transportation Air Quality, told Automotive News these credits are part of the plan. "That's the whole point of what we tried to establish," she said. "We wanted companies to invest in and develop these technologies." The EPA wants vehicle emissions at the corporate average equivalent of 54.4 miles per gallon fuel economy by 2025, and so far that seems achievable. It will translate to less than 40 mpg on the EPA sticker. In a report last summer, the industry was about 10 grams per mile of CO2 better than the rules required, and that was solely based on 2012 model year vehicles. In an update for 2013, the companies were up to 12 grams per mile beyond targets. News Source: Automotive News - sub. req.Image Credit: Mark Humphrey / AP Photo Government/Legal Green Ford GM Emissions Fuel Efficiency FCA fca us