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Ford posts record pre-tax Q3 profit of $2.6B

Ford took in $2.6 billion in pre-tax profits in the third quarter of the year, making for a record trio of months that saw the Blue Oval's year-over-year earnings increase by $426 million. The earnings are being attributed not just to improvements in North American sales, but sales around the globe.
Revenue was up 12 percent, to $36 billion, although net income took a hit, dropping $359 million to $1.3 billion. Ford was dinged with $498 million in pre-tax charges, which are being blamed for the drop in net income.
The news has boosted Ford's hopes for full-year results, bumping it's total profits up past $8 billion, according to Automotive News. The Dearborn, MI-based manufacturer is still expecting a loss in Europe, although it's forecasted less than the $1.73 billion it burned in 2012. In fact, according to CFO Bob Shanks, Ford's European losses dropped by 51 percent year-over year, a huge improvement for the brand.

GM being sued over imploding Bosch fuel pumps in Duramax diesel trucks

Texas-based law firm Hilliard Martinez Gonzalez (HMG) this week filed a class-action lawsuit against General Motors over an alleged issue with Bosch CP4 fuel pumps. The suit claims Bosch designed the CP4 pump to work with European diesel fuel, which is thicker than U.S. diesel. When GM installed that pump in the 6.6-liter Duramax engine used from the 2011 to 2016 model years, the lawsuit claims the thinner U.S. fuel didn't provide enough lubrication, allowing air pockets to form in the fuel pump. That, in turn, allegedly let metal rub against metal inside the pump, causing the pump to eventually disintegrate and "send thousands of metal shards into the fuel injection system and every part of the engine." The Detroit News reported on the most recent lawsuit filed in Michigan's Eastern District Court, but the case is another piece of nationwide legal maneuvering going on since at least last September. Every U.S. truck maker used the Bosch CP4 fuel pump, and HMG originally went after all of them, as well as Bosch. On September 30, 2018, HMG filed a class-action suit in Texas on behalf of eight plaintiffs. The law firm wanted to prosecute the affair under RICO — the Racketeer Influenced and Corrupt Organizations Act — and named 10 defendants: FCA US LLC, FCA North America Holdings, LLC, F/K/A Chrysler Group, Fiat Chrysler Automobiles, N.V., Ford Motor Company, General Motors LLC, Robert Bosch GmbH, Robert Bosch LLC, VM North America, Inc., and VM Motori S.P.A.  The firm filed another suit in Florida on Nov. 2, 2018, against the same 10 defendants, again under the RICO statute, this time on behalf of more than 30 plaintiffs. We don't know how many other suits might have been filed, but the two suits mentioned apparently didn't have legs — the courts dismissed both quickly. So HMG shifted its strategy away from the RICO angle, and focused its efforts on GM, filing suit in California on Nov. 20, 2018. Instead of trying to catch 10 fish with a small net, HMG wants to score one fish with a big net. The results have borne more promise for the plaintiffs. In July this year, a judge in California denied GM's motion to dismiss, noting "the alleged defect is central to the vehicleÂ’s function." This latest suit filed on Aug. 6 in Detroit singles out GM again.  The Bosch CP4 is known to be problematic, however.

Ford spotted testing new Fiesta RS hot hatch

There's a lot to love about Focus ST and Fiesta ST, but if neither of those is enough for you, we've got good news: Ford has even more potent RS versions of both in the works. The Focus RS we already saw last month, but here we have our first spy shots of the smaller Fiesta RS undergoing testing. Spotted alongside still-camouflaged prototypes of its big brother, the new Ford Fiesta RS is wearing a modified front end, flared fenders packing a wider track and a revised rear-end. The beefed-up bodywork is all well and fine, but we're looking forward to finding out what's underneath it all. Sources point towards a 250-horsepower version of Dearborn's 1.6-liter EcoBoost turbo four, along with upgraded brakes and suspension. The big question, though, is whether the production Fiesta RS will pack the new performance all-wheel-drive system from its larger counterpart, or stick with front-drive and some sort of clever diff. It may be too early to tell, as this pocket rocket is likely a good year away from its debut, but in the meantime you can scope out the spy shots in the slideshow above for a taste of what's to come. Related Video: