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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.

New Ford Escape spied inside and out

For the 2016 model year, the Ford Escape receives the Blue Oval's latest Sync 3 infotainment system and some minor tweaks to the color and trim options. Based on these new spy shots, it would appear that the crossover is due for some much bigger changes not too far into the future, as well. The thorough refresh isn't just an exterior styling update, either. Ford's designers are giving the future Escape a front end that's a bit more in the style of the latest Edge, at least based on these shots. Peek behind the mesh obscuring the grille, and the styling there now appears to have a hexagonal shape with horizontal slats and a smaller, lower intake. At the same time, the headlights are narrower and come to a sharper point as they wrap around the fender. The heavy camouflage makes the changes at the back harder to spot, although the taillights seem subtly tweaked with a similar overall shape but a clear stripe cutting through the center. The Escape also seems to be receiving a completely different center stack inside, but the area is still well concealed. The gearshift moves down between the seats, and that allows physical controls for the radio and HVAC to take that real estate. It's possible that the infotainment screen might pop up from the mesh-covered area you can see at the top of the interior photos. Take a look through the gallery for some detailed shots of Ford's camouflaged crossover.

First 1K next-gen Mustangs to carry 2014 1/2 model year?

A new report from Mustangs Daily, citing insider sources at Ford, tells us that the Blue Oval will produce 1,000 next-generation Mustangs with the model year designation of 2014 ½, to celebrate the 50th anniversary of the storied marque. The commemorative half-year designation is a rumor that's been swirling in Mustang forums for quite some time now, and seems more plausible than ever with this most recent report. Certainly it's not far-fetched to believe that Ford will want to make a big deal of the golden anniversary for its most-loved model.
The story (compiled by Drew Phillips, who runs the aforementioned Mustang site when he's not directing the photography on these pages) goes on to say that the limited-run cars will be the first built on the new Mustang platform internally known as S550 (and spied testing in the attached gallery). Each car is said to carry a "special" VIN and build number, though no performance upgrades versus the 2015 cars to follow are in the works. A collector's dream then, rather than a weekend racer's.