Very Nice 1971 Ford Ranchero Fuel Injected on 2040-cars

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Ford Q1 profits dragged down by warranty costs

General 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.

New UAW boss Williams talks tough, vows 'no more concessions'

Dennis Williams, the newly elected president of the UAW, had some tough words for American automakers in his inauguration speech at the 2014 UAW Convention, striking down the possibility of any additional concessions from the 400,000-strong union.
"No more concessions. We are tired of it. Enough is enough," Williams said during his speech. UAW employees have not received a raise in nearly 10 years, according to Reuters.
Considering the recent strong results for Ford, Chrysler and General Motors, the union's demands are likely to carry a bit more weight in next year's negotiations. And considering Williams' tough stance, we could be in for some fireworks once negotiations commence.

Project Ugly Horse alive and kicking at Road & Track

The hallways of the Autoblog campus are much quieter now that Zach Bowman has taken his prose, along with his welders, wrenches and hammers, over to the digital pages of Road & Track, but that doesn't mean our favorite project Mustang is gone forever. Project Ugly Horse is still coming along, and Zach has gifted us another update on his unfoxy Fox Body.
Last we saw of the Ugly Horse, Zach was strengthening up the '89 Mustang's chassis as he prepares to stuff the turbocharged, direct-injected EcoBoost engine of a Ford Focus ST under the hood. First things first, the old mill must go. Head on over to Road & Track to catch the latest chapter of Project Ugly Horse.