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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.

This woman owns the first Ford Mustang sold in the US

As Ford celebrates the 50th anniversary of the Mustang with the unveiling of the all-new sixth-gen design, one Chicago women can lay claim to a piece of Mustang history. According to CBS Chicago, Gail Wise was the first person in the US to buy a Mustang in 1964, and she did so two days before the car was even unveiled to the public.
Wise, then a 22-year-old teacher, went into the Chicago Ford dealership wanting to buy a convertible, and a salesperson ushered her over to car covered by a tarp. That car was a baby blue Mustang convertible, which she still owns today - along with the documentation. After sitting for almost 30 years and undergoing a full restoration, the car now looks to be in original condition. The report says that this $3,400 purchase could be worth anywhere between $100,000 and $250,000. While this worked out well for Mrs. Wise, we wouldn't recommend anyone going into a dark, back room of a dealership hoping to get a jump on the purchase of a 2015 Mustang.
Scroll down to watch the video report.

Ford won't be releasing GT500 lap times for the 'Ring, or any other car

Trucks have towing capacity, EVs have driving range and performance cars have Nürburgring lap times. What do all three have in common? They should all be taken with a grain of salt. Currently, there is no sanctioned way to record lap times or verify production-spec cars - a lesson we recently learned with the 2015 Nissan GT-R Nismo - and until there is a way to do so (and there probably never will be), we'll never officially know the actual time it took for Ford to lap the 'Ring with its ultra-powerful Shelby GT500.
After posting a Ford-made video of a 2013 GT500 running around the 'Ring, the guys over at SVTPerformance.com (an enthusiasts forum not affiliated with Ford or SVT) wanted more answers. They got in touch with Ford's Global Performance Vehicle Chief Engineer Jamal Hameedi, who said until there is a way to verify the times and inspect the cars, Ford will not get involved with lap-time wars. In the email, Hameedi pointed out that the 'Ring is a useful tool in that it allows a wide spectrum of track conditions, but until there is a governed way to record times, there is no way to accurately compare cars head-to-head.
And as much as some may not like it, Hameedi speaks the truth. It really isn't possible to compare times from one car to another, unless those cars were lapping the same track at the same time with the same driver. Not that any of this means there won't be continuous wars by fans and manufacturers alike... in other words, feel free to voice your opinions in the Comments below.