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Ford reports 58% drop in Q2 profits on European losses

Ford Motor Company announced Wednesday that it has posted a $1 billion profit for the second quarter of 2012. That sounds like good news for the Blue Oval, until you take into account that Ford posted a $2.4 billion profit for Q2 a year ago. That is a substantial 58 percent loss.
Ford also posted $465 million in international losses, with $404 million of those losses coming directly from Europe. The automaker also increased its European loss projections to $1 billion for 2012, due in large part to the economic crisis overseas, which has resulted in increased unemployment and decreased consumer confidence.

Here's your chance to vote for the best-looking state police cruiser

Across the country, state police generally drive the same types of vehicles. Right now, the most common cruisers are Ford Explorers, Chevrolet Tahoes, and Dodge Chargers, with some exceptions sprinkled in. The differentiation comes through in the livery, which can range from simplistic badging to busy stripes. Each year, the American Association of State Troopers (AAST) holds a fun contest to determine which state has the coolest-looking cars, and 2019 voting has just opened. We discovered the contest after Motor1 posted about the Florida Highway Patrol's newest addition to its fleet, a Dodge Challenger R/T. The musclemobile is, without question, the coolest car in the competition, and it might have the best livery too. But that doesn't mean it's going to win, as contests like this often turn into hotbeds for chest-beating homers.  The AAST is posting results on Facebook, and as of July 17, 2019, Kentucky and Nebraska are blowing the rest of the states out of the water. Florida is in ninth place with 4,653 votes compared to first-place Kentucky's 14,699. New Jersey is in last place with only 107 votes. As the internet goes, this will likely be determined by how many times the contest is shared across social media.  The Challenger isn't the only eye candy, either. Not every state participated, but those that did came correct with the photography, including Nebraska posing its car in front of a freakin' tornado. Others staged their cars with helicopters in the background, some set the car in front of the gorgeous landscapes their states have to offer, and others posed with dogs. Because who doesn't love dogs? No matter which car wins, it's cool to see the various designs all in one place. Check out the gallery above and vote for your favorite on the AAST's survey. The survey will close on July 30, 2019.  

Jim Hackett says metal tariffs costing Ford $1 billion in profits

Ford CEO Jim Hackett divulged in an interview with Bloomberg that the Trump administration's tariffs on metals imported from the European Union, Canada and Mexico have affected the automaker's balance sheet, adding that trade disputes need a quick resolution. "From Ford's perspective, the metals tariffs took about $1 billion in profit from us," Hackett told the outlet. "The irony is we source most of that in the U.S. today anyways. We're in a good place right now, but if it goes on longer there will be more damage." Hackett did not specify what period the $1 billion covered, but a Ford spokesman said the CEO was referring to internal forecasts at Ford for higher tariff-related costs in 2018 and 2019. President Trump in March announced his intention to enact 25 percent tariffs on steel imports and 10 percent on imported aluminum from the three trade zones as a way to protect the U.S. steel industry. The move sent U.S. automakers' stock prices plunging at a time when they were coming off weak monthly sales reports. Separately, President Trump has targeted China with two rounds of tariffs targeting a combined $260 billion worth of imports. China has responded by enacting 25-percent tariffs on U.S. goods including vehicle imports. In the interview, Hackett said that has hurt demand for Lincoln, which has found a growing market for its luxury vehicles in China, and made the price of the Lincoln MKC less attractive to Chinese buyers. The MKC is built at the company's Louisville, Ky. assembly plant. "We've had to move people in that factory to other operations because of that trade problem," he said. It's not clear what those moves entail or how many workers were involved. Autoblog sought comment from a Ford spokeswoman and will update this story if we hear back. Ford last month announced it was scrapping plans to import the Focus Active small crossover to the U.S. from China because of the new 25-percent tariffs on Chinese imports. Material from Reuters was used in this report Related Video: