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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.

Honda, Volvo, Lincoln are North American Car, Utility and Truck of the Year

The Detroit Auto Show has officially kicked off, as it always does, with the announcement of the North American Car, Utility Vehicle and Truck of the Year winners. For 2018, those are the Honda Accord, Volvo XC60 and Lincoln Navigator, respectively. The Honda Accord beat out two other finalists, the Toyota Camry and the new Kia Stinger. The Accord stood out for its styling, drivability and standard equipment. The Volvo XC60 came out ahead of the Alfa Romeo Stelvio and Honda Odyssey minivan. It was chosen for its luxury, ride and value when equipped well. The Lincoln Navigator, a heavily updated model that remained true to the concept car on which it was based, beat the Ford Expedition, as well as the only pickup in the list, the Chevrolet Colorado ZR2 (which was a finalist for Autoblog's own Technology of the Year Award). NACTOY juror Ron Sessions complimented the "more dramatic update" compared to the Expedition. "With its design now aligned with the Continental, the Navigator becomes an even more important image — and the profit-maker for Lincoln," he said. The NACTOY Awards have been around since 1994. A panel of 60 judges, all automotive journalists, whittle the list down to three finalists in each category before announcing the winners in January. The Utility Vehicle category was added for 2017. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2018 Honda Accord Touring 2.0T View 106 Photos Related Gallery 2018 Volvo XC60: First Drive View 22 Photos Related Gallery 2018 Lincoln Navigator: First Drive View 53 Photos News Source: NACTOY Auto News Detroit Auto Show Honda Lincoln Volvo Truck Crossover SUV Luxury Sedan 2018 detroit auto show north american car of the year NACTOY north american truck utility of the year

Why Grandpa loved Lincoln: Looking back at a century of design

It’s been 100 years since Henry Ford, in the aftermath of World War I, purchased the scraps of the Lincoln Motor Company. Ford put his son Edsel in charge of the automaker, and challenged him to create a luxury car company that could rival Cadillac, Packard and Pierce-Arrow. This meant, first off, bringing actual automotive designers into the fold, building out FordÂ’s first such department. The Model T, FordÂ’s then long-in-the-tooth mainstay, was created by engineers, and looked it. “For Lincoln, the innovation and setting of new standards of modernity has always been a core of our design,” said Kemal Curic, a 20-year veteran of Ford, and global design director of Lincoln since 2014. “Since its founding purchase from Henry Leland, Lincoln was always courageous to introduce new designs.” These included concentrations on streamlining and exuberance. These focci yielded a number of vehicle designs that were influential not just for the brand, but for the industry. 1936 Lincoln Zephyr, 1939 Lincoln Presidential Limo “Some of the cars that changed America were the 1936 and ‘38 Zephyr. The ‘36 for its aerodynamic look, and the ‘38 for its patented horizontal grille,” said Lincoln archivist and historian Ted Ryan. “Also, the 1939 Zephyr Continental, developed in ‘39 as a 1940 model – later known just as the Lincoln Continental – instituted another icon that stayed in place for decades with the spare tire initially exposed, and then treated with the spare tire hump.” Both Ryan and Curic also called out a number of other inspiring Lincoln models. These included the 1955 Lincoln Futura concept – which was later turned into the Batmobile by George Barris – and the 1961 Continental, famed for its rectilinear slab sides and suicide doors, plus its role as a presidential limousine in the Kennedy era. “These cars emphasized horizontality,” Curic said. “We like to relate that to the designs of Frank Lloyd Wright in his architecture. Wright loved his Lincolns. These proportions on the exterior were always Lincoln signifiers.” 1961 Lincoln Continental, Lincoln Futura Concept Lesser known than these is an example of what, back in the day, was known as a Hybrid: a car featuring an American powerplant and European design. “IÂ’m a huge fan of the 1955 Indianapolis Concept,” Curic said, a stunning jet-like vehicle that was last up for auction by RM SothebyÂ’s in 2013.