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Ford Q1 profits dragged down by warranty costs

General Motors isn't the only Detroit automaker posting falling profits in the first quarter. Ford just released its Q1 2014 financial data, and it reported a net income of $989 million, down $622 million from Q1 2013. The drop is partially blamed on higher warranty and recall expenses than the company had anticipated.
Financially, Ford suffered a rough quarter almost across the board. Its pre-tax profit of $1.4 billion was also down $765 million from a year ago. Things were even worse in the North American market where operating profit fell significantly to $1.5 billion, down from $2.392 billion in Q1 2013. However, its global revenue ticked up slightly to $35.9 billion, from $35.6 billion in this period in 2013.
Ford admitted that it spent about $900 million on expenses that it hadn't planned for during this quarter. According to Reuters, the company paid about $400 million in additional warranty and recall costs in North America. The automaker didn't explain why the costs were so much higher than expected. However, in the last three months, Ford has had several recalls, including on the 2001-2004 Escape for rust, Explorer for its steering, Edge for its fuel line and others.

Ford Mustang hit by Moore' Oklahoma's EF5 tornado lives to do another burnout

Oklahoma recently saw the destructive power of an EF5 tornado, but in the aftermath of the devastation, we've also been witness to the incredible resilience of the human spirit. Moore, OK resident Jack Haden survived the storm but found that his 2003 Ford Mustang wasn't quite as lucky. As you can see in the image above, the tornado's 200+ mph winds did quite a number on the car, but while most people would have likely called their insurance company and scrapped the car, Haden had other plans.
After finding the car and seeing that its V6 still fired up, Haden spent a couple hours getting the car, um... roadworthy(?)... by removing the doors and front clip, cutting off the roof and putting on some new wheels and tires. He noticed that driving it around brought some comic relief to an area that needed a reason to laugh and smile. Check out the KSBI TV news report video below showing before and after pictures of the tough 'Stang, as well as a video showing the newly lightweight coupe doing a smoky burnout.

2015 Ford Mustang EcoBoost Review

"It's just a V6 Mustang." That phrase, so often spoken with derision and disdain, has haunted owners of Ford's more affordable and economical pony car since roughly April of 1964. Even after Dearborn finally paid some attention to its entry-level muscle car by eliminating telltale V6 features – the company fit dual exhausts in place of the single-exit pipe in 2011, negating the budget offering's biggest visual giveaway – the car was still hard pressed to shake its reputation as a hairdresser's car and rental fleet queen. For the Mustang's 50th year in service, Ford went back to the drawing board, we think with the distinct goal of eliminating the stigma of the non-V8 Mustang. While the V6 is still being offered (your local Avis and Enterprise lots wouldn't be the same without them), it's best to think of the new, four-cylinder, turbocharged Mustang EcoBoost as the entry-level model. But will the addition of forced induction – from an engine that will see action in the upcoming, enthusiast-centric Focus RS, no less – be enough to appease those pony car fans that believe that only Mustangs with eight cylinders are worthy of the galloping stallion badge? After a week at the helm, we certainly think it is. The new Mustang's looks have been covered ad nauseam. Chances are good that you either love the fastback styling, or you think the original pony car now looks a lot like a Fusion Coupe. We'll ignore the bigger styling remarks for the 2015 Mustang, and instead, focus on what's done right with the EcoBoost model. Like the V6 before it, certain boxes are correctly ticked. Dual exhausts? Check. 18-inch alloys? Check. (Our EcoBoost Premium model even shares its wheels with the base GT). HID headlamps? Check. Up front, there's a surprisingly meaty chin spoiler while the muscular lines of the 'Stang's long hood tie in nicely with the fastback shape, which terminates in a neat rear spoiler. There's even a body-colored diffuser at the back, between the chromed exhaust tips. The bottom line is, unless you're a true Mustang aficionado, you'll be hard pressed to tell the difference between the turbocharged car and its 435-horsepower brother. Simply sitting in the redesigned cabin isn't enough to give the EcoBoost away, either. The leather-trimmed seats (standard on the Premium trim) are cozy and supportive, with plenty of bolstering to help keep both driver and passenger in place while the 'Stang exhibits its newly enhanced cornering abilities.