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Ford books $2.6B pretax quarterly profit

While its crosstown competitors at General Motors are smarting over a drastic drop in net income to $200 million in the second quarter, Ford has reason to celebrate. The Blue Oval has announced its own Q2 financial results, including a growing net income of $1.3 billion, a $78 million increase over last year. Pretax profits for the company reached $2.6 billion, up $44 million from 2013, but total revenue dropped slightly to $37.4 billion, down from $37.9 billion. Profits per share before one-time charges totaled 40 cents per share, beating Wall Street analysts' expectations of 36 cents a share.
Regionally, the Blue Oval performed strongly, as well. North America posted a record quarterly pre-tax profit of $2.4 billion, a $119 million increase. Europe also showed signs of turn around with its first profit in three years of $14 million after a loss of $306 million in Q2 2013. Ford is actually predicting profitability in the troubled region in 2015. Asia Pacific operations also performed well with $159 million in profits, up $29 million from last year. The only region where the business posted a loss was South America.
According to Automotive News, Ford also announced more precise plans about the changeover to build the aluminum-intensive 2015 F-150. In August, the Dearborn plant will shutdown for eight weeks to retool and its Kansas City plant will do the same next year.

Production of Shelby GT350 is coming to an end

One Autoblog staffer who drove the limited-edition Shelby GT350 wrote it probably was the best Mustang he'd driven, but, at some point, the fun had to come to an end: December 31 is the last day the GT350 will be available to order.
The GT350's option list has evolved much like it did for the original 1965-67 GT350. For 2011, the 45th Anniversary edition only came in coupe form and was painted white with blue stripes, just as with the 1965 car. The 2012 GT350 was offered as a coupe or convertible, and three colors were added to the option list, just like the 1966 model. For 2013, more colors and options were added in addition to equipment and styling updates, which resulted in Wilwood instead of Baer brakes. No major changes were made for the 2014 model. From the first car in 2011, customers have been able to choose between three different configurations for their 5.0-liter V8: naturally aspirated with 440 horsepower, supercharged with 525 hp (with warranty) or supercharged with 624 hp (without warranty).
"When we unveiled this latest version of the Shelby GT350, we promised it would be built for a limited time to preserve its collectability and value," states John Luft, president of Shelby American. He may have a point, because the original GT350, which also had a limited production run, is among the most valuable muscle cars in the world.

MyFord Touch getting buttons and knobs back to counter criticisms

Ford deserves credit for being a front-runner in offering advanced infotainment technology with its Sync and MyFord Touch systems, but continued consumer complaints over its confusing touchscreen interface and capacitive controls has made the automaker relent. The Wall Street Journal reports that physical buttons and knobs for controlling tuning and volume will be coming back to Ford vehicles equipped with the controversial infotainment system.
The 2013 F-150 with MyFord Touch gives us a glimpse of what the new layout with buttons and knobs might look like, as Ford says a similar balance of touch screen capability and buttons/knobs are what's being planned for future models. And, while capacitive controls have no fans in the halls of Autoblog, many of Ford's models with MyFord Touch do have a large physical knob for adjusting volume with integrated buttons for tuning and advancing tracks, though most of those are models with the optional upgraded Sony Audio system. Lincoln models with MyLincoln Touch, however, feature only capacitive controls for all stereo and climate functions.
Despite receiving enough complaints to throw buttons and knobs back into the mix (a move that reminds us of BMW's iDrive trajectory, among others), Ford reports that Sync and MyFord Touch have still been sold on 79 percent of its 2013 model year vehicles, a number it claims is double the rate that Honda and Toyota are getting for their infotainment systems. Ford also states that owners who do opt for the duo of technologies are more satisfied with overall vehicle quality than those who don't have it.