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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.

2020 Ford Escape, Lincoln Corsair ace crash tests, earn Top Safety Pick from IIHS

The redesigned 2020 Ford Escape and its platform-mate, the 2020 Lincoln Corsair, have both just completed their bout of crash tests at the hands of the Insurance Institute for Highway Safety, and while they did not emerge unscathed, they did come away with the agency's Top Safety Pick Award. One caveat: The rating only applies to the Escape equipped with the available LED headlights, which were deemed Acceptable. Similarly, the Corsair needs the available curve-adaptive LED headlights, also rated Acceptable, in order to achieve Top Safety Pick. The Escape's standard halogen headlights scored only a Marginal rating, while the Corsair's base LED headlights were deemed Poor due to glare. Those low headlight ratings knock the vehicles out of contention for Top Safety Pick. Had either vehicle offered headlights able to achieve a Good rating, that would have been enough to get them the agency's Top Safety Pick+ rating. Outside of their headlights, the 2020 Escape and Corsair acquitted themselves well. The Escape saw a big improvement in the difficult small-overlap front crash test, going from a Poor result in the previous generation to Good with the new one. The Corsair performed identically, and both achieved Good ratings in all six crash tests. The IIHS also tests automatic emergency-braking systems, and the standard and optional systems in the Escape and the Corsair both earned Superior ratings.

Ford also working on 200-mile EV to compete with Bolt, Model 3

The Chevrolet Bolt is on a lot of people's radars. You may have even noticed friends and colleagues who harbor very little interest in the automotive world, or anything labeled as "green," who have taken notice of a 200-mile electric vehicle coming out of Detroit. Mass appeal is the idea, after all. You can include Ford in the list of interested parties, in this case with the intention of taking direct aim at the Bolt – and, by proxy, the Tesla Model 3 – with an affordable, long-range EV of its own. Ford will unveil its own long-range EV, positioned to compete with Chevrolet, later this year, according to Automobile. Details are very scarce about Ford's plans, but we do know that the Bolt (or whatever the Chevy all-electric hatchback will end up being called) is expected to offer over 200 miles of driving between charges, with a sticker price around $30,000. The other major player, of course, is Tesla's smaller, more affordable sibling to the Model S. The Model 3, also slated to go on sale in 2017, should cost less than $40,000. While Tesla has established itself in the EV world, another long-range EV out of Detroit would win some customers from the California-based startup. For now, though, we'll just have to wait, as Ford remains tight-lipped about its plans for the car. Automobile predicts a possible unveiling at the Los Angeles Auto Show in November, what with California's EV mandate being a driver of strategy for various automakers. Most can agree, though, that a larger field of options – while not ideal for backers of the Bolt or Model 3 – will only benefit the car-buying public. Related Video: Featured Gallery Chevrolet Bolt EV Concept: Detroit 2015 Related Gallery Chevrolet Bolt EV Concept News Source: AutomobileImage Credit: Copyright 2015 Sebastian Blanco / AOL Green Rumormill Chevrolet Ford Tesla Electric Future Vehicles Chevy Bolt ford ev