1939 Ford Rat Rod 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.

Ford Mustang hit by Moore' Oklahoma's EF5 tornado lives to do another burnout

Oklahoma recently saw the destructive power of an EF5 tornado, but in the aftermath of the devastation, we've also been witness to the incredible resilience of the human spirit. Moore, OK resident Jack Haden survived the storm but found that his 2003 Ford Mustang wasn't quite as lucky. As you can see in the image above, the tornado's 200+ mph winds did quite a number on the car, but while most people would have likely called their insurance company and scrapped the car, Haden had other plans.
After finding the car and seeing that its V6 still fired up, Haden spent a couple hours getting the car, um... roadworthy(?)... by removing the doors and front clip, cutting off the roof and putting on some new wheels and tires. He noticed that driving it around brought some comic relief to an area that needed a reason to laugh and smile. Check out the KSBI TV news report video below showing before and after pictures of the tough 'Stang, as well as a video showing the newly lightweight coupe doing a smoky burnout.

George W. Bush's 2009 Ford F-150 fizzles with $300,000 bid at Barrett-Jackson [UPDATE: w/video]

Despite some truly impassioned pleading from Jay Leno himself - including calling on Arizona's notoriously Republican-rich voters to beat the $600,000 level set the last time Leno sold a vehicle for this particular charity... in California - bidding for George Bush's 2009 Ford F-150 pickup truck stalled at $300,000.
All proceeds will be sent to the Fisher House Foundation, so at least it's $300K going to a good cause. Feel free to check out the live image gallery above, which includes shots showing Leno's skills helming the auction, and read through the official auction description below.
*UPDATE: Video of the auction and Leno's prods to the crowd for more money can now be seen below.