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Pickup prices rising at 2x industry average

We've said it before, but bears repeating: Pickup trucks are the financial engines of America's automakers. Good thing, then, that the segment is in rude health - in fact, Automotive News is suggesting that pickup truck sales are arguably healthier than they were pre-recession, even though the segment's volume is still significantly down from where it was before the bottom fell out of the US economy. That's because per-unit profits on full-size trucks are skyrocketing, outpacing the industry's average price increases by more than double since 2005. According to data from Edmunds, the average transaction price of a full-size pickup is now $39,915 - a heady increase over the $31,059 average price in 2005 - a gain of over 8 percent after inflation is factored in.
Just how important are trucks to automakers' bottom lines? Automotive News quotes a Morgan Stanley analyst as saying the Ford F-Series is responsible for 90 percent of the company's 2012 profits, and General Motors isn't far behind, with the Chevrolet Silverado and GMC Sierra twins chipping in about two-thirds of the automaker's earnings.
Automotive News points out that Detroit's automakers now have the money to invest in modernizing their full-size truck offerings, in part because they don't have the same overhead and legacy costs that pushed General Motors and Chrysler into bankruptcy. Certainly, the pickup segment has seen a lot of innovations as of late, including turbocharged V6s, coil-spring rear suspensions and active aero. Those improvements in important areas like fuel economy and ride comfort have given existing pickup buyers new reasons to upgrade. In addition, automakers are piling on the tech and luxury goodies, creating more and more high-content, high-profit models like the Ford F-150 King Ranch, Ram 1500 Laramie Longhorn and Chevrolet Silverado High Country (shown).

Ford recalls Five Hundred, Mercury Montego sedans over fuel tank woes

Ford has announced through the National Highway Traffic Safety Administration that it is recalling nearly 3,000 examples of its Five Hundred and Mercury Montego (pictured) sedans from the 2007 model year.
The action, which affects 2,945 vehicles, is due to potentially defective welds between the filler neck and the fuel tank, a condition that could result in a fuel leak or the smell of gasoline reaching the occupants. In the worst-case scenario, a leak could cause a fire. Cars with the affected fuel tank problem could see an illuminated dashboard warning light as a result of the evaporative emissions leak being detected.
Ford will inspect and replace the fuel tank at no cost to owners (those who have already had the procedure done at-cost can apply for reimbursement), and the Dearborn automaker will begin notifying Five Hundred and Montego owners beginning August 15. Check out the official NHTSA press release after the jump for further details.

Ford starts GoDrive carsharing service in London

Automaker-supported carsharing services like BMW's DriveNow and Daimler's Car2Go are already well established in many cities around the world. Ford is no stranger to this business, either, with collaborations with companies like ZipCar in the US and Flinkster in Germany. Now, The Blue Oval is taking a new step by establishing its own dedicated offering in London called GoDrive. The operation is actually the expansion of an earlier 100-person pilot program and allows the automaker to test out ideas on a small scale. GoDrive is now growing to support 2,000 people in London, and they can share 50 vehicles that are scattered around 20 locations in the city. The fleet is split between Focus Electric models and Fiesta 1.0 EcoBoosts. One of the major selling points for the service is that users can take one-way trips through the city and have a guaranteed parking spot at their destination. Like any high-tech service today, much of the user interface for GoDrive works through a smartphone app that allows users to book cars and pay for trips. The driving is covered under an all-inclusive, pay-by-the-minute model, which includes London's congestion charge, and the first five minutes are free. To entice new users, the company is currently offering a free membership and 20 pounds ($31) in credit to sign up. GoDrive's small size also lets it gather and adjust to customer feedback quickly. For example, users reportedly enjoy getting to try out a vehicle with the latest infotainment and safety features. The company is already working on different pricing plans and parking options for the future, as well. The video below shows a little more the service in action. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. FORD BRINGS DYNAMIC CAR-SHARING EXPERIMENT TO LONDON; FIRST SERVICE TO OFFER ONE-WAY TRIPS WITH GUARANTEED PARKING Ford will offer Londoners flexible, practical, and affordable GoDrive car-sharing service; invites 2,000 members to register free for service that offers 50 cars across 20 locations GoDrive is unique in offering one-way trips with guaranteed parking. Pay-as-you-go approach with pay-per-minute pricing covers all fees. Drivers book and access cars via smartphone app Zero-emission Focus Electric makes up half of the GoDrive fleet; fuel-efficient Fiesta 1.0-litre EcoBoost available.