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Ford reports $3B profit in Q4, $6.9B for the year

Good news out of Dearborn today, as Ford announced $3 billion in profit for the last quarter of 2013, a 90-percent increase over the same period of 2012. Net income for all of last year, meanwhile, jumped to $7.2 billion from $5.7 billion in 2012, while pre-tax profits sat at a decade-topping $6.9 billion for all of 2013.
The results of the substantial profit increases are bigger profit-sharing checks for UAW employees. How big? A record $8,800 on average for 47,000 UAW workers, making 2013 the biggest year for profit sharing in Ford history. In total, $414 million will be paid as part of the profit-sharing scheme.
Now, it should be pointed out that a fair portion of Ford's Q4 profits were due to tax benefits, totaling $2.1 billion, according to Automotive News. Total profits would have also been higher, had there not been a significant recall on the Escape, as well as plant issues in South America.

Ford starting up 2.0L EcoBoost engine production in Ohio

Joe Hinrichs, Ford's President of The Americas (pictured above), announced today that in late 2014, the automaker will be building the 2.0-liter EcoBoost four-cylinder at its Cleveland Engine Plant, a move requiring a $200-million investment and the hiring of 450 new employees. European-built Ford products will continue to source this engine from the Valencia, Spain plant where all of these EcoBoost four-cylinder engines are currently built, and the new Cleveland engines will be used for all North American-made models.
Ford is planning to build its popular EcoBoost engines regionally to maximize production capacity and meet customer demand. Last year, Ford sold 334,364 vehicles with EcoBoost engines in the US alone, and that number is expected to swell to more than 500,000 by the end of this year, with global sales expected to total 1.6 million. By 2015, Ford says that 95 percent of its nameplates will offer an EcoBoost engine.
One such vehicle that could be adding an EcoBoost engine, according to Automotive News, is none other than the 2015 Ford Mustang. The report says that Ford could use either the 2.0-liter EcoBoost or an upcoming 2.3-liter EcoBoost in the sixth-generation pony car.

Ford recalls 2020-21 Explorer and Lincoln Aviator, 2021 E-Series

Ford announced safety recalls for the 2020-2021 Explorer and Lincoln Aviator along with the 2021 E-Series early Monday. The recalls address entirely different issues.  In the case of the 2020-2021 Ford Explorer and Lincoln Aviator, that issue is motor mount hardware. Specifically, the fasteners that secure the passenger-side motor mount may back out. In Ford's words, this can result in a "loss of power," which is the entirely predictable result of an engine parting ways with the vehicle it powers.  As alarming as that may sound, owners should not have to worry about anything extreme, as the passenger side mount is only one of multiple, and Ford says it is not aware of any incidents that have occurred with vehicles in customer hands. Ford says it impacts only about 1400 examples of the Explorer and Aviator in the States (plus two in Mexico and 65 in Canada) that were built at Chicago Assembly Plant between July 28 and 30, 2020. Ford is in the process of alerting its owners to the recall, and those with affected models will have their mount hardware replaced by their local Ford dealerships free of charge.  The 2021 E-Series is being recalled for a potential heat management issue resulting from improperly aligned thermal insulation on the underside of its engine cover. In vehicles where this insulation was not properly installed so that it reaches all the way to the edges of the cover, the resulting heat bleed can cause high in-cabin surface temperatures, and direct contact them could result in burns.  This is the larger of the two recalls, as Ford says it covers nearly 33,000 examples sold in the United States and Canada. Fortunately, as with the above issue, Ford says it has not been made aware of any customer incidents. Ford says the remedy is a set of insulation patches for the exposed areas.  Related Video: