To those on the outside, Wall Street numbers can seem rather strange. Ford’s earnings per share fell by 10 cents in its latest quarter and revenue was off 2.5 percent. But take out one-time expenses and Ford earned 24 cents a share and that was better than the experts were expecting. Earnings came to $34.9 billion and that was also better than analysts were guessing. The slowdown in truck sales due to the transition to the aluminum F-150 pickup cut into the old bottom line but growth in China eased the overall pain. Ford had warned the market that it would not achieve its 2014 profit forecasts due to the cost of bringing out new models, larger losses outside the U.S., and recall costs. “During the third quarter, we continued to introduce an unprecedented number of new vehicles and invest heavily in the new products and technologies that will deliver strong profitable growth beginning next year,” said Ford CEO Mark Fields.
Audi is recalling 101,900 A4 sedans and wagons from model years 2014 through 2015. It said some software may keep the airbags from deploying in certain circumstances. The company says it does not know of any accidents or injuries caused by the software problem.
Jeep fans take heart. The Wrangler will retain its body on frame construction and that may mean production will remain in Toledo, Ohio. Automotive News has the story citing sources. Fiat Chrysler Chief Sergio Marchionne had indicated the next generation Wrangler might have an aluminum unibody. That raised fears that assembly of the popular Jeep might be move out of Toledo.
VW said its electric e-Golf has been certified by the EPA at the equivalent of 126 mpg city, 105 mpg highway and 116 combined. VW claims that makes the upcoming offering “the most efficient car in its class for the 2015 model year.”