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Ford reports 58% drop in Q2 profits on European losses

Ford Motor Company announced Wednesday that it has posted a $1 billion profit for the second quarter of 2012. That sounds like good news for the Blue Oval, until you take into account that Ford posted a $2.4 billion profit for Q2 a year ago. That is a substantial 58 percent loss.
Ford also posted $465 million in international losses, with $404 million of those losses coming directly from Europe. The automaker also increased its European loss projections to $1 billion for 2012, due in large part to the economic crisis overseas, which has resulted in increased unemployment and decreased consumer confidence.

Ford supports bid for Detroit Rallycross race with Motown-minded Fiesta ST vid

As Ford continues its cheerleading effort to help bring the 2014 Summer X Games to its hometown of Detroit, MI, it has released footage of its 2014 Fiesta ST Rallycross car on location at some of the city's well-known landmarks. This video appears to have been shot around the same time as the previous X Games Detroit video was made, but it focuses 100-percent on rally car action.
With Ford Racing driver Andreas Eriksson behind the wheel, this Fiesta ST lays down some serious rubber atop Detroit's Cobo Hall parking structure, at Belle Isle and around the Michigan Central Depot. Detroit isn't alone in the bid for a three-year X Games contract as Chicago, Austin and Charlotte are also hoping to play host. The winning host city is expected to be announced this summer. Scroll down for Ford's two-minute video showing the Fiesta ST Rallycrossing through the Motor City.

Ford Mustang to get four-cylinder in Europe, but not US

Fans of the Ford Mustang SVO, which was produced from 1884 through 1986 with a turbocharged 2.3-liter four-cylinder engine and a manual transmission, may be interested to know that Ford is reportedly going to introduce something similar for 2015. But don't get too excited if you live in the US, as Edmunds reports that the vehicle will be offered in Europe only. Boo!
According to the report, Ford will put a version of its EcoBoost turbocharged four-cylinder into the engine bay of the Mustang. The engine would be enlarged from its current 2.0 liters to 2.3 liters, taking horsepower from 252 to around 300. The well-known 5.0 V8 engine will also be available in Europe.
"The Mustang is uniquely Ford and has a huge fan base here in Europe. Now those fans have something to look forward to and we look forward to providing more details in the near future," says Ford of Europe CEO Stephen Odell. That's great... but why not offer buyers in the States the (likely) fuel-efficient turbo option, too?