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2015 Ford Transit

As a segment, fullsize vans are stealth-fighter invisible on most consumers' radar. Visit a dealership for any of the four brands that offer them and you'll be lucky to find even one on display. These are commercial vehicles primarily, even more so than pickup trucks. Vans are the shuttles for plumbers, caterers, carpenters, concrete layers, masons, electricians, florists and flooring, and a huge part of this country's productivity is accomplished using them. At the moment, Ford is the 800-pound gorilla in that room - fully 41 percent of commercial vehicles wear a Blue Oval. So when Ford announced three years ago it would be ditching its commercial bread-and-butter E-Series, it meant the Transit that would be replacing the Econoline had huge, 53-year-old shoes to fill.
We were still a bit nostalgic about Econoline vans going away until going directly from the Transit first drive in Kansas City to an E-350 airport shuttle. Climb up through the Econoline's tiny double doors and bang your head on the opening, crouch all the way to your seat then enjoy a loud, rattle-prone, creaky, harsh ride on beam-hard seats while struggling to see out the low windows. This is an experience nearly every traveler has had. By comparison, the Transits we'd just spent two days with were every bit of the four decades better they needed to be. It cannot be understated just how much better the Transit is in every single way. The load floor is barely more than knee high. There's a huge side door, and hitting your head on a door opening is nearly impossible. Stand up all the way if you're under six-foot, six-inches - no more half-hunching down the aisle. There are windows actually designed to be looked out of. The ride is buttery smooth, no booming vibration from un-restrained metal panels and no squeaks. Conversations can be held at normal levels rather than yelling over the roar of an ancient V8. The seats are comfortable. The AC is cold. There are cupholders.
Enough anecdote-laying, what's in a Transit? We're talking about a very fullsized unibody van that's enjoyed a 49-year history in Ye Olde Europe. This latest iteration is part of the "One Ford" initiative, so it was designed as a global offering from the get-go, eschewing the body-on-frame construction the E-Series has used since 1975. Instead, the Transit integrates a rigid ladder frame into an overall frame construction made of high-strength cold-rolled and boron steel. The suspension is a simple but well-tuned Macpherson strut array up front with a rear solid axle and leaf springs.

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.

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.