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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.

Bill Ford says carsharing helps Ford, EVs need to be clean

To most people, Bill Ford is most famous for being the great-grandson of Henry Ford. But, as the executive chairman of Ford Motor Company, Ford has also been leading the company into greener and greener territory. At the morning plenary session for the 21st World Congress on Intelligent Transport Systems (ITS) in Detroit today, Ford discussed a wide variety of topics, including connected cars (of course), plug-in vehicle and how Ford's collaboration with Zipcar came about because of he liked what the Zipcar CEO was excited about getting cars off the road. Given that the conference has a big focus on communication between cars this year, it's no surprise that Ford talked about his company's work on that front. He's looking at the long term, though, and says that despite announcements like the one General Motors made yesterday about Super Cruise, when fully autonomous vehicles get here, it won't be headline news since the ground work is being laid by technologies coming to cars in bits and pieces now. In other words, your adaptive cruise control is getting ready for bigger and better things. "My fear is that we electrify the fleet and our impact is not what it could be." – Bill Ford On the zero-emission vehicle front, Ford said that while he's in favor of electric vehicles, "My fear is that we electrify the fleet and our impact is not what it could be." He was discussing the emissions reality of coal-powered electricity, and said that, "We've got to have a national discussion about what we want our grid to look like." As for the work that Ford is doing with Zipcar (which is just one of the many automaker carsharing operations out there today), Ford said that he first approached Zipcar CEO Scott Griffith after hearing Griffith talk at a green conference four or five years ago. Griffith was surprised, Ford said, because he had just given a talk about ways to reduce car ownership. "Did you hear my speech? I talked about taking cars off the road," Ford remembers Griffith saying. "Yeah, and what's going to happen without us," Ford responded. Today, the partnership allows Ford to get cars to people that have traditionally been "hard to reach," like college students on campuses. Ford's vehicles are currently available on 250 colleges campuses. Ford then spoke favorably about other challenges to the traditional car ownership model, like Lyft and Relay Rides. "Rather than being frightened by that, we need embrace it and help makes their companies better," he said.

2016 Chevy Malibu Hybrid, now with 48 mpg city

The 2016 Chevrolet Malibu is already one of the stars of the 2015 New York Auto Show thanks to a huge improvement in styling, lighter weight and new suite of tech. Now, Chevy is shifting the focus to the available hybrid model and detailing some more of its impressive figures. The 2016 Malibu Hybrid's powertrain consists of a 1.8-liter four-cylinder and a two-motor hybrid system with a 1.5-kilowatt hour lithium ion battery. Chevy's engineers are aiming for EPA fuel economy ratings of 48 miles per gallon city, 45 mpg highway and 47 mpg combined. The setup puts out a total of 182 horsepower, and it can accelerate the sedan to 60 miles per hour in a claimed 7.8 seconds. Also, speeds of up to 55 miles per hour can even be reached under fully electric power. Some of this efficient tech is shared with the latest Volt, including the regenerative braking. For reference, the 2015 Ford Fusion Hybrid carries an EPA rating of 44 mpg city, 41 mpg highway and 42 mpg combined, and its hybrid system puts out a total of 188 hp. There is a wait ahead for buyers looking to park the 2016 Malibu Hybrid in their garage, though. While the standard model should be on sale before the end of the year, the hybrid doesn't arrive in showrooms until the spring of 2016. Malibu Hybrid Estimated to Reach 48 MPG in City Driving New sedan projected to offer segment unsurpassed 47 MPG combined 2015-04-01 NEW YORK –The 2016 Chevrolet Malibu Hybrid, which uses technology from the Chevrolet Volt, will offer a General Motors-estimated 48 mpg city, 45 mpg highway – and 47 mpg combined, unsurpassed in the segment, GM President Dan Ammann announced today. Ammann made the announcement at an International Motoring Press Association breakfast before the 2016 Malibu was to be unveiled at the New York International Auto Show. "Fuel efficiency is important to our customers, especially in the midsize segment and with an estimated 48 mpg city rating, the Malibu Hybrid delivers," Ammann said. An all-new direct-injection 1.8L 4-cylinder engine mated to a two-motor drive unit slightly modified from the 2016 Chevrolet Volt drive unit powers the Malibu Hybrid. The drive unit provides additional power to assist the engine during acceleration, for 182 horsepower (136 kW) of total system power. An 80-cell, 1.5 kWh lithium-ion battery pack provides electric power to the Hybrid system. The advanced lithium-ion based chemistry can power the Malibu hybrid at up to 55 miles per hour on electricity alone.