1930 Ford Model A Rumblseat Coupe - Video & Sound - Classic 5-window Rumble Seat on 2040-cars

Auto blog

Ford shares falling on news of lower-than-expected profits next year

Ford has released projections for its 2013 profits, along with predictions of its 2014 earnings, and the news has forced the company's stock to stumble, falling over seven percent as of this writing. The Blue Oval is expecting earnings of $8.34 billion for 2013, although the bulk of that is coming largely from its North American operations, as troubles abroad continue to take a toll.
Calling 2013 an "outstanding" year, Ford expects its revenue to be up about 10 percent, thanks to gains in market share everywhere but Europe. But it's 2014 predictions that are causing stock prices to fall, as the Dearborn-based manufacturer expects pre-tax profits to fall to $7 to $8 billion, because of troubles in both Europe and South America, according to a report from Reuters. This is despite an expansion plan that will see it open an additional factory in the southern hemisphere, as well as two plants in China, all in a bid to launch 23 new or refreshed products next year.
The issues in South America aren't so much related to a fall in sales - Ford expects improved profits in Brazil and Argentina - but because of currency devaluations in Venezuela that are projected to cost it around $350 million. While that would still allow it to break even with 2013, Ford cites continued economic risks that could push losses even higher.

Obama Administration wants 200-mile EV that charges in under 10 minutes

When it comes to electric vehicles, you can find issues preventing mass adoption pretty much anywhere. Which is why you can then also look for solutions pretty much anywhere. That's the method the Obama Administration announced yesterday and it involves everything from shorter charging times to more public chargers, from bigger government fleets of electrified vehicles to an "Electric Vehicle Hackathon." The new plan is looking into blistering charging speeds of up to 350 kW. Perhaps most exciting, there was a commitment made to try and increase the speed of fast charging. Today, Tesla's Supercharger network has the fastest public charging available ( up to 145 kW), but the new plan is looking into blistering speeds of up to 350 kW. That's fast enough to recharge a 200-mile EV in under 10 minutes. Another cool future was promised by the Battery500 Consortium goal, which wants to create better batteries that cost under $100 per kWh. There was no actual technology revealed at this time, but announcements like this are about new ways to approach the future, not the nitty-gritty technical details. That's why the new announcement touts the fact that 12 utilities and charging companies have committed to increase their deployment of EVs and charging infrastructure, that there are 35 new partners (businesses, non-profits, universities, and utilities) for the DOE's Workplace Charging Challenge, and that there will be an EV "Hackathon" this fall to, "discover insights and develop new solutions for electric vehicle charging." The White House's announcement comes on the heels of the first-ever Sustainable Transportation Summit (STS). The STS was sponsored by the Department of Energy (DOE) and was held earlier this month in Washington, DC. After all this activity, almost 50 companies and organizations have signed on to the new "Guiding Principles to Promote Electric Vehicles and Charging Infrastructure" document, including the usual suspects: Tesla, BMW, Nissan, Ford, General Motors, Chargepoint, the California Air Resources Board, and the State of California (notably, the usual suspects are also missing). You can read the entire announcement from the White House here, but we've put the Guiding Principles below. The Obama Administration has made strong pushes for electric vehicles before, including proposals to increase the tax credit for EV buyers to $10,000, among other things.

Mulally confirms he's not leaving Ford for Microsoft

In recent months, rumors had been flying about Ford CEO Alan Mulally potentially leaving the company to take a position at Microsoft. Last we heard, Mulally was planning to stick around at Ford through at least 2014, and in an interview today, that bit was confirmed by the CEO himself.
According to the Associated Press, in a report from The Detroit News, Mulally said he will not be leaving Ford for Microsoft, and reiterated that he will remain at the Blue Oval through 2014, if not longer. Mulally has "no plans other than to serve Ford," according to the report.
Mulally did not say whether or not he had been in talks with Microsoft at any point. Microsoft CEO Steve Ballmer has said he plans to leave the software company sometime this year.