2001 Ford F-350 Super Duty Xlt Automatic 4-door Truck on 2040-cars

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Ford books $1.2B profit in second quarter on strength of trucks

Ford is rolling along nicely, with a positive second-quarter sales report and a $2.3 billion profit in North America. The Dearborn, Michigan-based manufacturer captured $1.2 billion globally from April to June, with a $177 million profit in Asia. Even in Europe, the land of doom and gloom for automakers not named Mazda, Ford saw some success as it lowered its expected full-year loss from $2 billion to $1.8 billion. The company lost $348 million in Europe during the second quarter, which, believe it or not, represents a $56-million improvement over 2012.
According to the report on CNBC, Ford enjoyed a three-percent increase in pre-market trading thanks to the news. The strong demand for the F-150 propelled growth in the US market, while Ford's 47-percent increase in Asian sales can be attributed to the new EcoSport crossover and Kuga (Ford Escape in the US) arriving in the somewhat fragile Chinese market.
Pre-tax profits for Ford are expected to be in the neighborhood of $8 billion by the end of the year, with sales the US, Europe, and China all looking up. The company also shifted $4.78 billion of asset-backed debt in the form of bonds, according to a report by Bloomberg. This move came amidst rumors of the Federal Reserve cutting back on its $85-billion-per-month bond purchases. Ford wasn't alone among automakers looking to sell off debt, though, as Mercedes-Benz and Nissan shifted around $1 billion each in bonds relating to auto loans.

Bosch fined $57.8 million by DOJ for price fixing and bid rigging

The US Department of Justice has been investigating bid rigging and price fixing among automotive parts suppliers for years, and so far the agency has leveled nearly $2.5 billion in fines against 34 companies. The latest business to be caught in this ongoing crackdown is Germany's Robert Bosch GmbH (Bosch), the world's largest independent auto component maker, and it agrees to pay a $57.8 million criminal fine to the Feds. According to the DOJ, Bosch has agreed to plead guilty to pricing fixing and bid rigging for spark plugs and oxygen sensors supplied to the former DaimlerChrysler, Ford and General Motors. The rigging is said to have occurred between January 2000 and July 2011. Bosch also allegedly played foul with starter motors sold to Volkswagen from January 2009 until at least June 2010. Bosch and other companies allegedly conspired on the pricing for bids to submit to automakers, and sold the parts at noncompetitive prices. The DOJ filed a one-count felony charge in US District Court for these actions. The company's plea is still subject to court approval, though. Bosch is only the third European company to be charged in this investigation, according to the DOJ. So far, many of the fined businesses have been from Japan, including Takata, NGK and others. Some execs have claimed price-fixing has been the standard operating procedure in the auto parts industry for a long time. Robert Bosch GmbH Agrees to Plead Guilty to Price Fixing and Bid Rigging on Automobile Parts Installed in U.S. Cars Robert Bosch GmbH, the world's largest independent parts supplier to the automotive industry, based in Gerlingen, Germany, has agreed to plead guilty and to pay a $57.8 million criminal fine for its role in a conspiracy to fix prices and rig bids for spark plugs, oxygen sensors and starter motors sold to automobile and internal combustion engine manufacturers in the United States and elsewhere, the Department of Justice announced today. According to the one-count felony charge filed today in the U.S. District Court of the Eastern District of Michigan, Bosch conspired to allocate the supply of, rig bids for, and to fix, stabilize and maintain the prices of, spark plugs and oxygen sensors sold to automobile and internal combustion engine manufacturers such as DaimlerChrysler AG, Ford Motor Company, General Motors Company and Andreas Stihl AG & Co., among others, in the United States and elsewhere.

The 2021 F-150 elevates Ford's bed game

The new 2021 Ford F-150 is ushering in a new era of pickup capability, but there's more to it than the introduction of the PowerBoost hybrid. While that new powertrain is certainly the truck's headlining element, the supporting electrical architecture enables a level of utility that hasn't been offered in past consumer half-tons. The true party trick is Ford's new "Pro Power Onboard" feature, which is essentially a built-in generator that provides juice for the 2021 F-150's rather robust in-bed power station. This system is available even on gasoline-engine models, but its utility is maximized with the electrified powertrain. ICE models equipped with the option max out at 2.0 kilowatts, while the PowerBoost hybrid can be had with either a 2.4- or a whopping 7.2-kilowatt inverter.  The idea here is that the F-150 can essentially stand in for a high-output portable generator. In a worksite example provided by Ford, a PowerBoost model with the 7.2-kW upgrade and a single tank of fuel could provide 32 hours of power for an 1,800-watt compound miter saw, a 1,000W circular saw, a 1,200W battery charger, a 1,200W hammer drill, and a 1,000W air compressor with hundreds of watts to spare for lighting and other accessories. But even without the Pro Power Onboard option, Ford's new bed setup enables more versatility than in previous models. The new Tailgate Work Surface option adds a flat work area with integrated rulers, recesses for pencils or small tools, and even a stand for a personal device.  Ford is neither the first to offer an auxiliary power outlet in a half-ton pickup bed, nor was Ford the first to introduce a more feature-rich tailgate. GMC's MultiPro tailgate was a major innovation on that front, and while it is geared mostly toward improving the cargo utility of the bed, it can also be customized with 12-volt power and even an accessory speaker system. The Ram 1500 is also offered with both a multi-function tailgate and AC power in the bed, though the latter option is limited to models with the RamBox cargo package.  As half-ton pickups approach levels of towing and hauling capability that begin to blur lines with heavy-duty offerings, it's clear that automakers are looking for ways to differentiate themselves without stepping on their own bigger trucks' toes. These new bed and tailgate innovations may yet be the tip of the iceberg when it comes to full-size pickup versatility. Related Video: