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Ford Q1 profits dragged down by warranty costs
Fri, 25 Apr 2014General Motors isn't the only Detroit automaker posting falling profits in the first quarter. Ford just released its Q1 2014 financial data, and it reported a net income of $989 million, down $622 million from Q1 2013. The drop is partially blamed on higher warranty and recall expenses than the company had anticipated.
Financially, Ford suffered a rough quarter almost across the board. Its pre-tax profit of $1.4 billion was also down $765 million from a year ago. Things were even worse in the North American market where operating profit fell significantly to $1.5 billion, down from $2.392 billion in Q1 2013. However, its global revenue ticked up slightly to $35.9 billion, from $35.6 billion in this period in 2013.
Ford admitted that it spent about $900 million on expenses that it hadn't planned for during this quarter. According to Reuters, the company paid about $400 million in additional warranty and recall costs in North America. The automaker didn't explain why the costs were so much higher than expected. However, in the last three months, Ford has had several recalls, including on the 2001-2004 Escape for rust, Explorer for its steering, Edge for its fuel line and others.
How the Ford F-150 SVT Raptor became a reality
Wed, 01 May 2013The camouflaged Ford F-150 SVT Raptor prototype captured above blazing its way across the desert during a test run left company engineers giggling in amazement, reveals Jamal Hameedi in a new Autoweek video. Ford's global performance vehicle chief engineer, accompanied by senior exterior designer Bruce Williams, sat down with the publication to discuss the concept and development of the automaker's super off-road F-150.
Designing a high-performance pickup in 2008, right when the cost of gasoline was going through the roof, seemed insane at the time, but the team pushed forward with the innovative vehicle regardless. The interview includes plenty of Ford B-roll footage as visual candy, and the conversations include discussions about exterior design, ride comfort, anti-lock brake tuning, suspension engineering, weight reduction and why it was necessary to make the Raptor visually different than Ford's standard F-150. The model's origin story is very interesting, and you can learn more about it by watching the video below.
Ford reveals new rapid prototyping and low-volume production techniques [w/video]
Mon, 08 Jul 2013It's called "F3T," and that stands for Ford Free-form Fabrication Technology. The process that The Blue Oval has developed means being able to sidestep the weeks-long process of tool-and-die making when engineers want to construct a new part, allowing them to fabricate a three-dimensional part from a two-dimensional sheet of metal in just hours.
While F3T is being developed it is limited to "low-volume prototyping or even low-volume niche vehicles," but the next step is to evaluate it for use in Ford's global manufacturing facilities. You can find out more about it in the video and the press release below.