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Ford Q3 pretax profits drop to $1.18B

Following positive third quarter financial results recently from General Motors, rival Ford took a tumble in Q3. The automaker posted pre-tax profits of $1.18 billion, compared to about $2.59 billion in Q3 2013, a drop of around 54 percent. Net income also suffered with $835 million made in the quarter, versus $1.272 billion last year, a decline of about 34 percent. The Blue Oval blamed the gloomy figures on three reasons in its release: "lower volume, higher warranty costs and adverse balance sheet exchange effects."
There were problems of one kind or another in practically every region. North America experienced higher warranty costs than expected, partially due to recalls. The sales volume for the quarter was 665,000 units, versus 725,000 in Q3 2013, and pre-tax results amounted to $1.41 billion versus $2.296 billion last year.
South America and Europe both posted worse pre-tax results than last year. On the bright side, European volume was up slightly to 321,000 vehicles, from 303,000 in Q3 2013. The Middle East and Africa also lost $15 million, but that was an improvement compared to the $25 million loss previously experienced in this region.

Ford Tourneo ready for duty in Connect, Courier and Custom flavors [w/videos]

Ford was relatively quiet at the Geneva Motor Show, but it did take the opportunity to roll out its new family of Tourneo vans: the Courier, Connect, Grand Connect and Custom. As the passenger version of the Transit cargo vans, the new range of Tourneo models vary from the B-segment Courier up to the fullsize Custom. The Connect and Grand Connect are based on the redesigned 2014 Ford Transit Connect.
With an overall length just three inches longer than the Fiesta hatchback, the Tourneo Courier seats four to five passengers, and it offers a choice of three engines: the 1.0-liter EcoBoost or two small diesels. Like the 2014 Transit Connect was saw in Paris last year, the Tourneo Connect comes in a five-seat configuration while the Grand Connect can seat seven. Finally, the Tourneo Custom seats up to nine passengers, and it is available in two lengths up to 210 inches long putting it just six inches shorter than a standard-length E-Series van and about a foot longer than the Explorer.
Check out our live image galleries, and be sure to scroll down below for the press release and to watch some videos.

Ford recalls 1.48 million F-150s for transmission, plus other models

Weeks after recalling more than 800,000 F-Series pickup trucks for a fire risk, Ford has issued another separate recall for approximately 1.48 million 2011-2013 F-150s for a transmission fault. The six-speed automatics could unexpectedly downshift into first gear without warning. Ford and Lincoln tangentially issued much smaller recalls for the Mustang, Continental, Nautilus, and Navigator. According to Ford, some 2011-2013 model year F-150 pickups with six-speed automatic transmissions could "experience an intermittent loss of the transmission output speed sensor signal to the powertrain control module." This could potentially cause the trucks to temporarily downshift, which could be dangerous if it occurs while driving. Of the 1.48 million affected trucks, 1.26 million are in the U.S. while 221,000 are in Canada. Thus far, Ford knows of five reported accidents involving the issue. To remedy the problem, owners can take their trucks to dealers to update the power control module software. Ford also issued recalls for about 4,350 2019 Mustangs, Lincoln Nautiluses, and Lincoln Navigators in the U.S. and Canada due to a possible fault with the instrument clusters. Although there have been no reports of accidents, Ford says the instrument panel clusters assemblies might be blank or not turn out when the vehicle is started. Additionally, Ford issued a third recall for 28,200 2017-2019 Lincoln Continentals in the U.S. and Canada. Ford says silicon contamination might build up inside the door latch motor, causing it to malfunction. As a result, the door latch might not always fully engage, and the doors could possibly open unexpectedly. Despite no reports of accidents, Ford will remove and replace door latch assemblies on all doors for those affected by the defect. If any of these apply to a vehicle you own, contact Ford to discuss whether it is included in any of these recalls and have the vehicle checked out at a Ford dealership.