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Ford nets $924M in first quarter

Where General Motors' first-quarter 2015 financials showed growth in many major metrics, Ford's newly released numbers had falling figures in most of the vital categories. The automaker's Q1 revenue shrank to $33.9 billion, down $2 billion, and net income fell to $924 million, a $65-million drop. However, pre-tax profits increased slightly to $1.4 billion, $24 million more than in the same period in 2014, and operating margin rose to 3.6 percent, up 0.2 percent. Despite the less-than-stellar numbers, the Blue Oval thinks 2015 should be positive for the company. "The first quarter was a good start to a year in which our results will grow progressively stronger as the new products we have been launching start to pay off," CEO Mark Fields said in the financial announcement. The automaker has 15 vehicles to launch globally this year, and only three of them are already out. By the end of 2015, Ford predicts pre-tax profits of between $8.5 billion and $9.5 billion. In terms of vehicle sales, Ford slipped by 21,000 to a total of 1.568 million worldwide in the first quarter. North American sales dropped to 678,000, which was 39,000 less than last year, and pre-tax profits fell to $1.34 billion, a $160-million fall. The company explained the reductions on this continent as linked to the launches of the latest F-150 and Edge. In other major markets, European wholesales grew to 376,000 vehicles, a 9,000-car boost from last year. Pre-tax results there increased by $9 million, but the area still showed an overall loss of $185 million. In the Asia Pacific region, Ford moved 16,000 more units than in Q1 2014 to reach 366,000. However, due in part to preparing for new vehicles, the company only made $103 million there, a $188-million drop. The automaker released all of these figures as part of a PDF, which you can download here. Related Video:

Road tripping in a Ford Fusion Energi PHEV

Following my earlier Chevy Cruze Diesel trip and recent press-launch drives of Volvo XC90 and Hyundai Sonata plug-in hybrids, an opportunity arose for another road trip. I wanted to do it in a plug-in hybrid, primarily to learn whether its higher price vs. gas-powered and conventional hybrid versions of the same vehicle – is justified by its capability to operate as an EV, burning no fuel at all with its engine off, at least for short distances. I've been skeptical of plug-in parallel hybrids. As I've written before, I've been skeptical of plug-in parallel hybrids because they are generally good for very limited electric miles (typically 10-15, depending on driving style, terrain, and temperature) at fairly leisurely speeds before their engines kick in. But I've recently spent time in two new examples – the 2016 Volvo XC90 T8 and the 2016 Hyundai Sonata PHEV – that offer more EV range, mostly because they tote bigger (thus more expensive) batteries. Both promise 24-25 miles of battery-only range, and the latter can recharge on the fly. Unfortunately, neither was yet available for my July road trip, nor was a Honda or Toyota plug-in, but Ford anted up a Fusion Energi borrowed from its Marketing department. "The state-of-the-art lithium-ion battery and electric motor combined with the gasoline engine offers maximum efficiency," says Ford about it. "This strategy offers the best of both worlds, providing the 2016 Ford Fusion Energi the capability to be driven as an electric vehicle for short trips and as a hybrid for longer trips." I've been a fan of Ford's Fusion since the first-generation debuted a decade back, and the handsome Gen II version launched for 2013 has been Detroit's best answer to the Honda Accord/Toyota Camry/Nissan Altima Japanese juggernaut in the popular US mid-size sedan segment. Beyond its leading-man looks, it offers an array of highly-functional features (some exclusive), a choice of three gas engines (a base 2.5-liter four and 1.6-liter and 2.0-liter direct-injected, turbocharged EcoBoost fours) and both parallel and plug-in parallel hybrid versions. The regular hybrid originally boasted 47 mpg before Ford adjusted it to be more realistic. The gas engines drive through a 6-speed automatic transmission (a 6-speed manual is standard with the 1.6-liter EcoBoost), the hybrids through an electric continuously variable transaxle (eCVT), and all-wheel drive is available with the 2.0-liter EcoBoost four.

Ford to ramp up Lincoln rollout in China in bid to catch rivals

DETROIT/BEIJING — Ford Motor Co's premium Lincoln brand plans to build as many as five new vehicles in China by 2022, according to two U.S. sources, in a move to expand sales in the world's largest vehicle market that would also blunt the impact of trade U.S.-China trade spats. Ford has said it plans to build an all-new sport utility vehicle in China by the end of 2019, however the company has not detailed future production plans for the Lincoln brand in China beyond that. "Our localization plans to support the China market are on track and will serve to further drive Lincoln's growth in China," Lincoln spokeswoman Angie Kozleski said. "Beyond that, it would be premature to discuss our future product and production plans or timing." Sources familiar with Ford's production plans told Reuters the automaker now expects to begin building the new Lincoln Aviator in China in late 2019 or early 2020, along with replacements for the MKC compact crossover and the MKZ midsize sedan, followed in 2021 by the all-new Nautilus, which replaces the Lincoln MKX crossover. A fifth model, a small coupe-like crossover, is tentatively slated for production in China in 2022, the sources said. Ford has much to lose if the war of words over trade between China and U.S. President Donald Trump escalates into a full-blown tariff war. Last year, it shipped about 80,000 vehicles to China from North America, more than half of them Lincolns to support the brand's growth. All Lincoln vehicles that Ford now sells in China are brought in from North America. Even if China does reduce its 25 percent tariff on imported vehicles - as Chinese President Xi Jinping promised on Tuesday - it is not clear that would mean a big, long-term increase in Fords and Lincolns made in U.S. factories heading to Chinese showrooms. Ford is pursuing long-range plans to build more vehicles in China to serve a market that is now roughly 60 percent larger than the U.S. market, and projected to keep growing. But it is playing catch up to hometown rival General Motors Co and German luxury brands including Audi, BMW and Mercedes-Benz, which have invested heavily in Chinese production in recent years as a form of insurance against trade, political and currency gyrations and to lower price points for their premium cars.