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Ford reports 58% drop in Q2 profits on European losses

Ford Motor Company announced Wednesday that it has posted a $1 billion profit for the second quarter of 2012. That sounds like good news for the Blue Oval, until you take into account that Ford posted a $2.4 billion profit for Q2 a year ago. That is a substantial 58 percent loss.
Ford also posted $465 million in international losses, with $404 million of those losses coming directly from Europe. The automaker also increased its European loss projections to $1 billion for 2012, due in large part to the economic crisis overseas, which has resulted in increased unemployment and decreased consumer confidence.

Ford Mustang Shelby GT350R-C set to storm Watkins Glen

Ford is bringing its latest high-performance Mustang back to the track with the new 2016 GT350R-C, which will debut and race in this weekend's IMSA Continental Tire SportsCar Challenge race at Watkins Glen. The spiritual successor to the Boss 302R that's still taking part in the Continental Tire series today, the first GT350R-C will be campaigned by Multimatic Motorsports. It's had its fully independent suspension completely revised for the track, and it gets everything from new spring rates to new anti-roll bars to a lowered ride height. Like the road-going GT350, a 5.2-liter, flat-plane-crank V8 sits under the hood, although Ford didn't release any specifics on power output. In fact, details are in short supply. We're expecting some sort of sequential racing transmission, wildly enhanced brakes, and a thoroughly race-prepared cabin, although Ford hasn't released any info on that stuff. The Blue Oval also hasn't said anything about the aerodynamic package, but strangely, it looks more or less like what's featured on the standard GT350R. The front fascia and rear wing are pretty much identical, and even the side sills seem roughly similar to the production model. "Like so many Mustangs before it, the Shelby GT350R is a car born to race," Ford's director of global performance, Dave Pericak, said in the attached press release. "We're taking it to the track as the GT350R-C and we're ready to see what it can do against the best competition in the world." Scroll down for the official press release from Ford. And if you're so inclined, you can check out the GT350R-C's debut race this weekend at IMSA.com, with coverage starting at 12:25 P.M. If you prefer normal TV, Fox Sports 1 will get around to re-broadcasting the race on July 5 at 10:00 A.M. Related Video: Ford Performance Shelby GT350R-C to Make IMSA Competition Debut at Watkins Glen • All-new Shelby® GT350R-C embodies Ford innovation through performance as race car makes its competition debut this weekend at Watkins Glen • Shelby GT350R-C to compete in the remainder of the 2015 IMSA Continental Tire SportsCar Challenge with Multimatic Motorsports • Competition version of Shelby GT350R features all-new 5.2-liter flat-plane crankshaft V8 created to extend on-track performance DEARBORN, Mich., June 24, 2015 – There's no mistaking the wicked sound or aggressive looks of the all-new Shelby® GT350R-C that Ford announced today would see its first official track time at Watkins Glen this weekend.

2015 Ford Mustang: Obsessively covered [w/videos + poll]

Here at Autoblog, we've officially stamped December 5, 2013, as Ford Mustang Day. Sure, the sixth-generation Pony Car started leaking out onto the web days ago, but all of the official, non-embargoed hotness has come out today. And man, there's been a lot.
In terms of new car debuts, this is a really big one - not unlike all of the Corvette madness that kicked off the 2013 automotive season. So to make sure you haven't missed anything, here's a wrap-up of everything you need to know about the 2015 Ford Mustang.
Deep Dive: 2015 Ford Mustang