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Ford posts decade-best $2.1B profit in Q1 2013

As predicted, Ford has reported that its first quarter of 2013 was a resounding success overall, with a pretax profit of $2.1 billion ($0.41 per share), and a net income of $1.6 billion ($0.40 per share). In fact, Ford made a pretax profit of some $2.4 billion in its home North American market, with that total number being pulled down by losses in South America and Europe. That gaudy North American profit is the strongest result by the automaker since 2000.
Ford's companywide profit for Q1 was down $147 million from one year ago, while the net income number marked an increase of $215 million year over year. Overall, this is Ford's 15th-consecutive profitable quarter.
The bad news from the European market was even worst in Q1 2013 than it was last year. Pretax losses of $462 million - on revenue of $6.7 billion - represented a year-over-year change of -$313 million. In South American, the company reported a loss of $218 million, down from a slim profit of $54 million in Q1 2012. The news was better for Ford Asia Pacific Africa, where a $6 million pretax profit in 2013 showed a year-over-year gain of some $101 million when compared to losses in 2012. Scroll down to read Ford's full press release.

Ford's new GT Le Mans racer sounds awesome

Ford showed its new GT Le Mans racecar this morning, and we're stoked. The gorgeous new racecar will run in the LM GTE Pro class in the FIA World Endurance Championship and United SportsCar Championship, followed by a four-car showing at the 2016 24 Hours of Le Mans. For those keeping track, the 2016 race will mark the 50th anniversary of Ford's big Le Mans victory in 1966. In addition to images and some limited information, Ford released this video of the Le Mans racecar, and we haven't been able to stop watching. This thing sounds amazing, and it looks super cool racing through the streets of Paris, even if it's all just CGI. Thus, we figured we'd pull the video out again, just in case you missed it the first time. Turn your volume up. This one's really good.

Ford Mustang outsold Audi TT and Porsche 911 in Germany

Despite being the antithesis of the cars Germany is known for, the new Ford Mustang was the best selling sports car in the land of schnitzel and beer last month by a whisker. The Mustang beat out the Audi TT by 780 units to 708, and it beat Germany's best known performance car, the Porsche 911, 780 to 752. That makes some sense, right? The Mustang has to be cheaper than those competitors, right? Not really. Both the EcoBoost and V8-powered Mustang have higher starting prices than the equivalent TT. The 2.3-liter, EcoBoost-powered Mustang starts at 38,000 euros (around $43,300 at today's rates), while the front-drive Audi TT starts at 35,950 euros (about $41,000). The V8-powered Mustang GT, meanwhile, starts at 43,000 euros (about $49,000), which is just 2,550 euros more than the Quattro-equipped TT. When 310 horsepower or 435 hp can be had for just a couple thousand more than 220 hp, it's easy to understand the Mustang's success. The 911, of course, is a lot more expensive than the Mustang. You can buy two Mustang GTs for the price of a single Carrera. But Ford also managed to beat out the Porsche's smaller siblings, the Boxster and Cayman twins, which sold a combined 642 vehicles. Again, the pony car is significantly cheaper, but that doesn't do much to lessen the impact of the Mustang's victory. If you're in Germany and are concerned about this American invasion, you shouldn't be (yet). The TT is Germany's best-selling sports car from January through March, with 2,299 to the Ford's 1,823. Porsche is breathing down the pony car's neck, too, with 1,811 units in 2016. It'll be interesting to see if Ford's successful March carries on into the rest of 2016. Related Video: