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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's Jim Farley hints at Lincoln sales rebound

If you're a fan of Lincoln, get ready for "a really great story" come May 1. That's how Ford marketing boss Jim Farley, in a call with analysts, characterized the coming April sales report for the MKZ. At the moment, there are probably few things that the executive VP could want more than a happy ending for the ballyhooed sedan that has made people cry boo-hoo for the past six months.
The massive glass roof of the MKZ is trying to support a burden that would make Atlas tap out, and it hasn't shattered, but it has shown a few cracks. The car we called "a big step in the right direction," the embodiment of the reinvention of the brand and a test of Lincoln's commitment to a new rear-wheel drive offering was given an $8-million dollar Super Bowl ad spend earlier this year, then quality control issues during its assembly scuttled deliveries. Lincoln got over that and kept up the ad blitz, now it just wants the good work to take hold.
If Farley's not leading us on, April could be the month. He said the results (so far) show "the product is being very well-received," inventory is finally where it should be and the MKZ Hybrid is doing better than expected. It bears noting that Lincoln is offering some aggressive incentive programs at the moment, including 0.9-percent APR and $1,000 off for conquest buyers stepping out of competitors' vehicles.

Ford to ramp up Lincoln rollout in China in bid to catch rivals

DETROIT/BEIJING — Ford Motor Co's premium Lincoln brand plans to build as many as five new vehicles in China by 2022, according to two U.S. sources, in a move to expand sales in the world's largest vehicle market that would also blunt the impact of trade U.S.-China trade spats. Ford has said it plans to build an all-new sport utility vehicle in China by the end of 2019, however the company has not detailed future production plans for the Lincoln brand in China beyond that. "Our localization plans to support the China market are on track and will serve to further drive Lincoln's growth in China," Lincoln spokeswoman Angie Kozleski said. "Beyond that, it would be premature to discuss our future product and production plans or timing." Sources familiar with Ford's production plans told Reuters the automaker now expects to begin building the new Lincoln Aviator in China in late 2019 or early 2020, along with replacements for the MKC compact crossover and the MKZ midsize sedan, followed in 2021 by the all-new Nautilus, which replaces the Lincoln MKX crossover. A fifth model, a small coupe-like crossover, is tentatively slated for production in China in 2022, the sources said. Ford has much to lose if the war of words over trade between China and U.S. President Donald Trump escalates into a full-blown tariff war. Last year, it shipped about 80,000 vehicles to China from North America, more than half of them Lincolns to support the brand's growth. All Lincoln vehicles that Ford now sells in China are brought in from North America. Even if China does reduce its 25 percent tariff on imported vehicles - as Chinese President Xi Jinping promised on Tuesday - it is not clear that would mean a big, long-term increase in Fords and Lincolns made in U.S. factories heading to Chinese showrooms. Ford is pursuing long-range plans to build more vehicles in China to serve a market that is now roughly 60 percent larger than the U.S. market, and projected to keep growing. But it is playing catch up to hometown rival General Motors Co and German luxury brands including Audi, BMW and Mercedes-Benz, which have invested heavily in Chinese production in recent years as a form of insurance against trade, political and currency gyrations and to lower price points for their premium cars.