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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 and BraunAbility team up for wheelchair-accessible Explorer

BraunAbility, a creator of wheelchair-accessible vehicles that are usually based on minivans, has teamed up with Ford to create the MXV, a vehicle the company hails as the first of its kind. In addition to the obvious exterior modifications that include sliding doors, this Explorer-based mobility vehicle has removable driver and passenger seats and a powered ramp that nestles into the vehicle's floor. Modifications to the regular Explorer platform will allow wheelchair users to operate the MXV from the driver's position with the normal seat removed, ride along as a front passenger, or enjoy 56 inches of cabin height in the middle row, which is large enough to accommodate most power wheelchairs. Best we can tell, there are no changes to the Explorer's powertrain, which means a 3.5-liter V6 engine with 290 horsepower and 255 pound-feet of torque will provide motivation, not to mention 5,000-pounds worth of towing capacity. Fuel economy from the MXV matches that of the Explorer, with 17 city, 24 highway, and 20 combined. The twin-turbo EcoBoost V6 isn't available. Unfortunately, all-wheel drive also isn't available from BraunAbility due to the lowered floor necessary to make the vehicle large enough to work as a proper mobility vehicle. Even so, the Explorer looks like a pretty nice platform with which to build such a wheelchair-accessible vehicle, with good looks, good driving manners, and the kind of rugged looks you can't find in a minivan. Expect to see the MXV at BraunAbility dealers this fall, but don't expect to be first in line. Vehicle No. 1 has been promised to wounded veteran Mike Delancey, a United States Marine paralyzed by a sniper's bullet while serving in Iraq in 2006. Take a look at the images above, and feel free to peruse the press release for all the details below. Related Video: BraunAbility – the World Leader in Mobility Vehicles – Selects Ford Explorer to Create First-Ever Wheelchair-Accessible SUV • BraunAbility introduces its first-ever wheelchair-accessible sport utility vehicle – the BraunAbility MXV™ • BraunAbility-customized Ford Explorer – the best-selling SUV in the U.S. for the last 25 years – will be the company's first mass-produced wheelchair-accessible SUV • BraunAbility revolutionized what independence means to wheelchair users, and has established itself as a world leader in the mobility business DEARBORN, Mich.

Ford wants to double hybrid offerings by 2020

The Blue Oval is looking for folks on the other side of this Big Old Sphere to get on board with its hybrid offerings. Ford executive Raj Nair, speaking at the Detroit Auto Show this week, said the US automaker wants to double the number of hybrids models it offers by the end of the decade, Reuters reports. Details of what that actually means is anyone's guess, as it was unclear how many of those models would be in the US and how many would be overseas. That said, Nair did say that prospective customers in regions such as China and Europe would drive the expansion of offerings. Ford got off to a great start in the US last year on its hybrid sales, but then tailed off towards the end of 2013. Ford more than doubled its green-car sales in 2013 to almost 88,000 units. In that number were more than 37,000 Fusion Hybrids and more than 28,000 C-Max Hybrids sold domestically. The company also sold almost 7,500 Lincoln MKZ Hybrids. Ford's green-car totals for 2013 were up fivefold at the mid-year point, hinting that Ford's hybrid sales plateaued, at least temporarily, in recent months.