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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.

2015 Lincoln Navigator gets lots of updates, still not all-new [w/video]

If there's one brand that could really use some fresh, all-new product, it's Lincoln. The MKC crossover is on the way and looks promising, but the just-revealed 2015 model year update of its fullsize Navigator would appear to stop somewhere short of being "all-new." This, despite replacing a product that's been on the market since 2007. Oh sure, there's a brash new face, complete with the company's love or hate split-wing grille, and the revised rear-end treatment does look better to our eyes (if overly familiar). But in the era of the bold new all-aluminum Ford F-150, the Navigator is still based on the outgoing model's all-steel bones, so it's more of an extensive mid-cycle refresh than a completely new piece.
Unlike the F-150, there's no aluminum suit on this black-tie bruiser
That's a shame, really, because the class the Navigator is playing in features a host of really modern, stylish, luxurious crossovers and sport utilities like the Cadillac Escalade, Land Rover Range Rover, Mercedes-Benz GL-Class and more. Unlike the F-150, there's no aluminum suit on this black-tie bruiser, but that's not to say it isn't bringing some new tech to the table in 2015. Under the hood, for example, is Ford's well-received 3.5-liter, twin-turbocharged EcoBoost V6, putting out "at least" 370 horsepower and 430 pound-feet of torque. That's a solid engine, and should be a whole lot more spunky and efficient than the archaic 5.4-liter Triton V8 currently being employed in the outgoing model.

Ford's Galhotra succeeds Farley as head of Lincoln

Ford Motor Company is announcing a major personnel shakeup that could have a dramatic effect on the future of the Lincoln division. Kumar Galhotra (pictured above), currently vice president of engineering at Ford for all of its vehicles worldwide, is taking over as the president of the luxury brand on September 1, replacing Jim Farley. The automaker is also hiring a new head of advanced engineering.
Galhotra has a huge job ahead of him as the new boss of Lincoln worldwide, overseeing product development, marketing, sales and service. His task is to turn the luxury division into a world-class brand as quickly as possible, and he reports directly to Ford President and CEO Mark Fields.
"These changes underscore our commitment to build on the success of our One Ford plan by accelerating our pace of progress. They also make clear we are serious about Lincoln as a world-class luxury brand and that product excellence and innovation are what will deliver growth and define our entire company going forward," said Fields in the company's announcement.