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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 to add Android Auto and CarPlay to 2016 SYNC 3 cars via update

Ford is updating a large number of 2016 model year cars equipped with SYNC 3 infotainment software, adding Android Auto and CarPlay to the vehicles with a free, over-the-air update via Wi-Fi, or using either USB or going through their dealer. The upgrade will be available for around 800,000 vehicles in total, giving a huge number of Ford car owners the chance to get big infotainment improvements without having to buy a newer model car. The OTA update option is also a big step for Ford – it's the company's first for software ever, and it's one of the major reasons that Ford recently hired around 400 new mobile smartphone engineers, the company tells me. For CarPlay, users will still also need to upgrade their vehicle's USB hub to make this work (which will also incur a dealer visit and a cost), but for those on Android, all that's required is a simple software installation. The USB install method is also faster, but the Wi-Fi update option is the start of the company's efforts to really increase its OTA update program, which will be used for security improvements as well as infotainment bumps. Even with a dealer visit and hardware upgrade for CarPlay, this sounds like a worthwhile thing for 2016 vehicle owners to do. CarPlay and Android Auto are huge upgrades vs. most in-car software, offering navigation and entertainment options that follow you from your phone to your car. Retroactively offering this kind of thing to car owners is a definite change in tone for carmakers, since they typically use these kinds of things as incentives to get people interested in vehicle model updates. But as data becomes increasingly important to automakers as a business, it makes sense to encourage greater in-car use of devices.Written by Darrell Etherington for TechCrunchRelated Video: Auto News Ford Lincoln Technology Infotainment android

Ford's China sales keep falling, down 30% in third quarter

BEIJING — Ford's July-to-September vehicle sales in China fell 30%, as the U.S. automaker continued to lose ground in a prolonged sales decline in its second biggest market. The Dearborn, Michigan-based automaker delivered 131,060 vehicles in China in the third quarter, Ford said in a statement. Ford's sales in China fell 35.8% in the first quarter and by 21.7% in the second quarter. In the third quarter, sales of the automaker's mass-market Ford brand fell 37.7%, while its luxury division Lincoln saw sales drop by 24.1%. It delivered around 421,000 vehicles in the first nine months of the year, according to Reuters calculations. Ford has been struggling to revive sales in China after its business began slumping in late 2017. Sales sank 37 percent in 2018, after a 6 percent decline in 2017. The automaker plans to launch more than 30 new models in China over the next three years, of which more than a third will be electric vehicles. It also said it would localize management teams by hiring more Chinese staff and aimed to improve relationships with joint venture partners. Ford has launched a series of new models in the third quarter in China, including Focus, Edge, and the electric Territory. In China, Ford makes cars through its joint venture with Chongqing Changan Automobile Co and Jiangling Motors. It has said it would partner with Zotye Automobile Co to sell lower-priced cars, but there seems to have been little progress. In a series of moves, Ford named a new president for its main local venture, Changan Ford, in August and said it would enhance its partnership with Changan through research, production and marketing cooperation in September. Ford is also planning to revamp some of its existing manufacturing facilities with Changan to localize production of its premium brand Lincoln. Changan Ford's sales down by around 33.5% in the third quarter, according to Reuters calculations based on Changan's filings. Ford rival General Motors' July-to-September vehicle sales in China fell 17.5%, to 689,531 vehicles. As GM and Ford China sales extend declines, U.S. car companies' market share of total China passenger vehicle sales fell to 9.5% in the first eight months of this year, from 10.7% in the year-ago period, according to the China Association of Automobile Manufacturers (CAAM). Over the same period, German carmakers' share has risen to 23.8% from 21.6%, and Japanese automakers' share rose to 21.7% from 18.3%.