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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.

Shelby GT500 and Roush Stage 3 go head to head at the drag strip

The Ford Mustang is a brilliantly affordable source of horsepower, with a base 300-plus-horsepower version available for well under $30,000. Jumping up to about $35,000 will get you a solid 420 horsepower from a high-revving V8, while those with some extra disposable income can get a pair of 600-plus-horsepower monsters. Both the Roush Stage 3 with its Phase 3 package and Ford's factory Shelby GT500 even crest the 650-horsepower mark, with 675 and 662 ponies, respectively.
Naturally, someone needed to find out which of these hi-po Mustangs was the quickest. And while this video is quite obviously a dealership commercial, at least there's some solid drag racing between two of the most powerful performance machines available for under $100,000.
With two NHRA drag racers at the wheel, the Stage 3 and GT500 go head to head for three races. Scroll down below to see the results in the full video.

Mustang GT350 reveal coming Nov 17?

Ford looks to have something really big planned for the 2014 Los Angeles Auto Show. The Blue Oval has released the first of five teaser videos on the brand's performance heritage, and aside from some great images of racers over the years, the video includes a series of teaser images, the last of which points to November 17, 2014.
That's the day before press days open in LA, and considering the propensity of global automakers to plan lavish debuts the night before a major international auto show, it's a virtual certainty that Ford will be showing off some sort of special vehicle.
That'd be news in and of itself, but based on the images shown in Ford's teaser video - which include an Alcantara steering wheel, a "Powered by Ford" valve cover, aluminum pedals, sticky tires, a big, round exhaust tip, a honeycomb grille and a serious set of wheels - it seems very likely that Ford will be showing something performance oriented.