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Ford books $2.6B pretax quarterly profit

While its crosstown competitors at General Motors are smarting over a drastic drop in net income to $200 million in the second quarter, Ford has reason to celebrate. The Blue Oval has announced its own Q2 financial results, including a growing net income of $1.3 billion, a $78 million increase over last year. Pretax profits for the company reached $2.6 billion, up $44 million from 2013, but total revenue dropped slightly to $37.4 billion, down from $37.9 billion. Profits per share before one-time charges totaled 40 cents per share, beating Wall Street analysts' expectations of 36 cents a share.
Regionally, the Blue Oval performed strongly, as well. North America posted a record quarterly pre-tax profit of $2.4 billion, a $119 million increase. Europe also showed signs of turn around with its first profit in three years of $14 million after a loss of $306 million in Q2 2013. Ford is actually predicting profitability in the troubled region in 2015. Asia Pacific operations also performed well with $159 million in profits, up $29 million from last year. The only region where the business posted a loss was South America.
According to Automotive News, Ford also announced more precise plans about the changeover to build the aluminum-intensive 2015 F-150. In August, the Dearborn plant will shutdown for eight weeks to retool and its Kansas City plant will do the same next year.

Ford recalls over 953,000 vehicles to replace Takata airbag inflators

DETROIT — Ford is recalling more than 953,000 vehicles worldwide to replace Takata passenger airbag inflators that can explode and hurl shrapnel. The move includes over 782,000 vehicles in the U.S. and is part of the largest series of recalls in U.S. history. Included are the 2010 Ford Edge and Lincoln MKX, the 2010 and 2011 Ford Ranger, the 2010 to 2012 Ford Fusion and Lincoln MKZ, the 2010 and 2011 Mercury Milan, and the 2010 to 2014 Ford Mustang. Some of the recalls may be limited to specific geographic areas of the U.S. Takata used the chemical ammonium nitrate to create an explosion to inflate airbags. But it can deteriorate over time due to heat and humidity and explode with too much force, blowing apart a metal canister designed to contain the explosion. At least 23 people have been killed worldwide and hundreds injured by the inflators. Ford says it doesn't know of any injuries in vehicles included in this recall. Dealers will replace the inflators. Ford will notify owners about the recall starting on Feb. 18, and the company has replacement parts available for dealers to order, said spokeswoman Monique Brentley. In previous Takata recalls, parts availability had been an issue. Owners can go to this Ford website and key in their vehicle identification number to see if their cars and SUVs are being recalled. The same information will be available soon at the NHTSA recall website. More than three years after the U.S. National Highway Traffic Safety Administration took over management of recalls involving Takata inflators, one third of the recalled inflators still have not been replaced, according to an annual report from the government and a court-appointed monitor. The report says 16.7 million faulty inflators out of 50 million under recall have yet to be replaced. And 10 million more inflators are scheduled to be recalled this month, including the Ford vehicles. Safety advocates said the completion rate should be far higher given the danger associated with the inflators. The recalls forced Takata of Japan to seek bankruptcy protection and sell most of its assets to pay for the fixes. The inflators grow more dangerous as they get older because ammonium nitrate deteriorates due to high humidity and cycles from hot temperatures to cold. The most dangerous inflators are in areas of the South along the Gulf of Mexico that have high humidity. Related Video:

Ford Focus RS configurator hits the Internet

Ford made waves yesterday when it drooped the performance and pricing details on the new Focus RS. Perhaps keen to keep the momentum going, the Blue Oval has launched the configurator for its new fire-breathing hot hatchback. As configurators go, this is a lot like the Ford's other build-your-own tools, only it's even more limited. The total list of options on the new Focus RS is quite light. You can pick from one of four colors, including the stylish Nitro Blue shown above, while there are just two interior upholstery schemes – partial black leather and full black leather for the standard Recaro seats. Your decision there will ultimately inform just how pricey your Focus RS will get. Opt for the full leather interior and you'll be stuck with the so-called RS2 package, which adds heated, powered front seats, a heated steering wheel, heated mirrors, and navigation to the standard SYNC3 infotainment system. Oh, and it'll also drive the price up by $2,785. Other options include a handsome set of 19-inch wheels, with the option of ultra sticky Michelin Pilot Sport Cup 2 tires. The wheels alone are a $1,395 option while adding the tires runs the price up $595, which is a bargain considering how pricey 19-inch PS Cup 2s are. The final option is a simple sunroof, priced at just $895. As you can see above, we've built our ideal Focus RS, finished in Nitro Blue with the 19-inch wheels, RS2 package (we live in Michigan, after all) and standard Michelin rubber. Yep, we passed on the more aggressive tire, with blame going to replacement costs. The total price comes to $41,480. Head on over to Ford's website and build your very own Focus RS, and then head back here and let us know how you optioned it, down in Comments. Related Video: