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Ford brings FPV Falcon production in house [w/video]

For the first time since 1976, Ford of Australia is bringing the assembly of its stonking Ford Performance Vehicle line back in-house to the company's Broadmeadows and Geelong facilities. That's a point of pride for FPV, which builds high-performance versions of the Australian Falcon model like the F6, GS and the heroic GT seen here.
In the video below, we hear FPV employees talking in hushed tones about the important legacy that cars like the GT have for Australian gearheads of all stripes, and how proud they are to say that hand-built machines like this GT R-Spec with its Boss 355 engine are now rolling out of their home base. For our part, we're just dying to drive this version of the Coyote V8; the engine is rocking a "Miami" supercharger from Harrop and makes some 450 horsepower.
Continue on below for the video, or you can check out some images of the new FPV at the facility, as well as a gallery of the GT R-Spec car.

Ford nets $5.7B in 2012, $1.6B in fourth quarter

Ford brought in $5.7 billion in net income during 2012, which is around $307 million less than one year prior. Even so, the automaker closed out 2012 with the highest pre-tax profit for a single quarter in nearly 10 years, earning $1.7 billion in the fourth quarter thanks largely to a higher-than-average truck mix in the US. That's a jump of $577 million over 2011. Likewise, that translated into fourth quarter income of $1.6 billion. All told, Ford set a full-year pre-tax profit record in 2012. But that doesn't necessarily mean everything is rosy in the land of the Blue Oval.
Like every other manufacturer, 2012 saw Ford get hammered in the European Union, where a deep economic recession continues to drive down consumer confidence. The automaker lost more than $700 million in Europe, and saw full revenue of $26.6 billion in 2012. That's a decline of $7.2 billion compared to last yea. Ford says the market for new vehicles in Europe has contracted to 13.5 million units, the lowest number in 17 years. You can read the full press release below for more information.

We spy the Ford Mustang King Cobra early at SEMA

As is the case with most auto shows, waiting for the reveal of hot new models is the worst part. So, while our own Drew Phillips has been wandering the halls here in Las Vegas since they unlocked the doors for SEMA 2014, we didn't expect him to come back with any big reveals until later in the day. Until this happened.
Meandering by the Ford stand, Phillips eagle-eyed a trunk lid that caught his attention. Popping out from an otherwise draped 2015 Mustang, the matte black lid clearly has the name King Cobra embossed on the rear.
That name is interesting for a few reasons: to start, Ford hasn't used the Cobra name (without "Jet" attached) since way back in 2004, so a new snake is certainly something to take note of. Second, the King Cobra name dates all the way back to the ill-remembered Mustang II, meaning there is a clear link to Blue Oval history here.