Ford shares gained ground after it announced second quarter earnings that topped analysts’ estimates. Net quarterly profit came to $1.89 billion or 47 cents a share easily topping the forecast of 37 cents. The result was 7 cents a share better than a year earlier and Ford claimed its best automotive quarterly profit since 2000. “We delivered an outstanding second quarter, a great first half of 2015, and we are confident the second half of the year will be even stronger,” said President and CEO Mark Fields. The company reiterated its forecast of a yearly operating profit of up to $9.5 billion.
When it comes to worldwide sales, what company is on top so far this year? Volkswagen took the number one position from Toyota for the first time with sales of 5.04 million vehicles. Toyota came in at 5.02 due to lower sales in Japan. GM finished third.
Chevy will launch a diesel version of the mid-size Colorado pickup this fall with a starting price of $31,700 up to $38,700 including delivery. Chevy said the truck will be able to tow 7,700 pounds.
About 900 customers with orders for 2015 Dodge Challenger and Charger Hellcat models have had their orders cancelled. They will receive a voucher that will allow them to purchase a 2016 at 2015 prices as Fiat Chrysler said it wants to change the way dealers handle the much in demand high performance car. Apparently some took orders for more Hellcats than they would receive. Dodge will double production of the cars next year and implement new rules regarding how dealers place orders and receive their Hellcats. As dealers do, many put markups totaling thousands of dollars on the cars.
If your hometown is like mine, you see tons of auto ads during the local nightly news. Well the first known national ad promoting a car appeared at the end of July 1898 in the Scientific American. A report from the Census Bureau said it was for the Winton Motor Carriage with the headline, “dispense with a horse.”