Despite posting a 7 percent increase in revenue and a net income of $2.4 billion (up from a $800 million loss a year ago), Ford’s fourth-quarter 2017 earnings missed analyst expectations. Blame a few key factors.First, Ford faced an increase in commodity prices, ratcheting up the cost of steel and aluminum. Add to that increased warranty costs, unpleasant foreign exchange rates, and sinking sales in China, and the company’s pretax profit fell 19 percent from a year ago, hitting $1.7 billion.As the company seeks to convince investors to put its trust in the automaker’s vision, Ford delivered earnings of 39 cents per share, not the 42 cents analysts projected.“Our balance sheet remains strong and we are focused on improving the company’s fitness to strengthen future results,” said Ford’s chief financial officer, Bob Shanks, in a statement. “We remain committed to providing value to our shareholders including expected distributions totaling … [Read more...] about Ford to Investors: We Have Good News and Bad News
While the Ferrari market has retreated a small amount since its meteoric rise over the past half-decade or so, Gooding & Company found the Italian delicacies of significant importance to its bottom-line during its Scottsdale auction this past weekend. Of the top four sellers, Ferrari accounted for three spots, including the most expensive vehicle Gooding & Company sold.That top seller was the appropriately-hyped 1965 Ferrari 275 GTB “Speciale,” an early, one-off show car crafted by Pininfarina rather than Scaglietti. Various differences between production 275 GTBs and this “Speciale” version can be found, including the hood design and several interior features, and all were noticed by potential bidders, all the way up to the $8,085,000 sales price, which just topped the $8 million low estimate, but was nearly $2 million shy of the high estimate. Nevertheless, the unique Ferrari was the top selling car of the entire Scottsdale Auction Week.The number two … [Read more...] about Ferraris Dominate Top 5 at Gooding & Co. Scottsdale Auction, 275 GTB One-Off Hits $8 Million
While the Ferrari market has retreated a small amount since its meteoric rise over the past half-decade or so, Gooding & Company found the Italian delicacies of significant importance to its bottom-line during its Scottsdale auction this past weekend. Of the top four sellers, Ferrari accounted for three spots, including the most expensive vehicle Gooding & Company sold.That top seller was the appropriately-hyped 1965 Ferrari 275 GTB “Speciale,” an early, one-off show car crafted by Pininfarina rather than Scaglietti. Various differences between production 275 GTBs and this “Speciale” version can be found, including the hood design and several interior features, and all were noticed by potential bidders, all the way up to the $8,085,000 sales price, which just topped the $8 million low estimate, but was nearly $2 million shy of the high estimate. Nevertheless, the unique Ferrari was the top selling car of the entire Scottsdale Auction Week.The number two … [Read more...] about 1965 Ferrari 275 GTB “Speciale” One-Off Sells at Gooding & Company for $8,085,000
We test a lot of fancy, complicated cars here at Autoblog. Most of the cars that come in are high-trim with as many options as possible. That's why it was rather refreshing when Hyundai sent us its new Accent in the most basic possible form, the Accent SE. It's the bottom of the Accent line starting at $15,880. There are no options available when building one out on Hyundai's website, and according to the window sticker, the only extra added to it was a set of carpeted floor mats. The only potential problem with such a basic car is that there's nothing to make up for a poor driving experience. Thankfully, that's not the case with the Accent. It's a strong value that offers a comfortable and even sometimes fun driving experience. It even provides just enough features to not feel like a total penalty box. Elantra looks that aren't too far out of proportion. Appealing to this editor was the manual transmission, which is only available on this bare-bones trim.The interior feels about as … [Read more...] about 2018 Hyundai Accent First Drive Review | Simply good at under $16 grand
Now that GT Sport has been in the wild for a few months, players have got stuck into the title’s namesake Sport mode. Unlike any other GT game entry before it, online play is the main event this time around.Racing online will lead to increases and decreases in two specific ratings: Driver Rating and Sportsmanship Rating. If you want to have fun online, managing both is pretty crucial.Whilst DR changes are pretty straight forward — perform well in the race — SR is a bit harder to understand. Veteran pros should have a grasp on what is acceptable but others may not. Let’s take a look at the type of driving behaviours you should adapt and also avoid. This article takes a look at proven variables in a player’s Sportsmanship Rating. It is worth bearing in mind that Polyphony Digital may change the system over time, or make different judgements on an individual basis. Drive Clean and Identify Overtaking Points to Increase SRUnsurprisingly, one of the … [Read more...] about How to Improve and Maintain a Good Sportsmanship Rating in GT Sport
The Tesla Model 3, the car that is going to bring Tesla technology to the masses, is finally here. It is not here as in “in press fleets across America,” but it is sitting in the driveways of real customers who don’t work for Tesla, and that, my friends, is what counts for progress in the Willy Wonka world of Elon Musk.So, not knowing when a real, regular loaner Model 3 would actually become available, I, uh, “borrowed” one. Where’d I get it? As they say in New Jersey, “Don’ worry ‘bout it.”The point is that for a couple of hours yesterday I drove a fully loaded Model 3 in city and suburban traffic, around freeway onramps as fast as I dared go with the owner riding shotgun, and I fiddled with that 15-inch touch screen that controls everything in the car.And? Yes? Well? Was it what you would call a “good” car? Yes. More than good? In many, if not most ways, yes.There are advances available in the Model 3 that it … [Read more...] about Tesla Model 3 first drive: Yes, it’s a real car, and a pretty good one too
While the Verizon IndyCar Series officially kicks off its latest aero kit era on March 11 on the streets of St. Petersburg, Florida, it’s first true test -- as far as most fans are concerned -- won’t come until the Indianapolis 500 on May 27.It could make for a anxious couple of months for a racing series that touted its growing attendance, improved TV ratings, growing social media footprint and, more important, a hot new car at the North American International Auto Show in Detroit on Tuesday.The series brought out some heavy hitters for the first public showing of the 2018 universal aero kit, including Hulman & Co. CEO Mark Miles, IndyCar president Jay Frye, Chevrolet boss Mark Reuss, Team Penske owner Roger Penske, Honda senior vice president Henio Arcangeli Jr., IndyCar legend Mario Andretti and 2017 IndyCar champion Josef Newgarden. IndyCar courting engine manufacturers to join Honda, Chevrolet in series Conversations between IndyCar and potential … [Read more...] about 2018 IndyCar universal aero kit: Looks good, but will it race?
Late last month, Polyphony Digital responded to a common criticism of Gran Turismo Sport. “GT League” was just a part of the substantial 1.10 update, and it brought a more traditional single-player experience to fans.As ever with these sorts of things, it’s a double-edged sword. Now that we’ve had some time with the new content, we’ll be taking a look at how GT League succeeds in broadening Sport’s appeal, and how it continues a handful of foibles that troubled the franchise last generation.GOOD: Offline Content Keeps More Players HappyIt’s been a bit of a common refrain here, so we’ll keep it brief: GT Sport is a very different beast to what’s come before. In the franchise’s two-decade history, it’s the biggest change in terms of focus. While Polyphony launched the game with single-player aspects like Circuit Experience and a new Custom Race mode, all of it was ostensibly there to funnel players to the … [Read more...] about GT League is Everything Good (and Bad) About Classic Gran Turismo
Time For BedIt’s become C10-town around here. Staffer Phillip Thomas moved to Cali in a ’69 he still drives, Car Craft’s John McGann has been building a ’67 longbed forever, the HOT ROD Garage show just turned a ’67 longbed into a shortie (and accidentally bought a spare ’69 along the way), and HRG host Lucky Costa nabbed a ’67 shortbed of his own. We recently slammed a 630hp big-block into a ’67 longbed for the Roadkill Garage show, and then I absorbed the HOT ROD Garage truck into the Roadkill fleet with dreams of building a 200-mph pickup. That’s six, not counting the squarebody Roadkill Muscle Truck (which made its debut in the pages of HOT ROD in 2008).Look at us as a microcosm of hot rodding right now: ’67-’72 Chevy trucks have boomed, and ’73-’91 squarebodies are right behind ’em. The F100s are in play as well, with the Dodge trucks a very distant third. Curiously, the hotter Dodge pickups are … [Read more...] about Freiburger: ’67-72 C10s Are Up. I’m A Fan, But Is That Good?
Force India believe that in Esteban Ocon they have a driver that is “every bit as good” as Red Bull’s Max Verstappen.Although much of the focus in Formula 1 has been on Verstappen and his sensational drives, Ocon demonstrated in his first year that he too could be a force to be reckoned with.The Frenchman made his debut in 2017 with Force India, scoring points in his very first race.That, though, was just the start.He finished inside the top ten in all but two races and didn’t retire from a single event until the penultimate grand prix of the season in Brazil.Added to that his ballsy racing against team-mate Sergio Perez caught the eye of pundits who feel that the Mercedes protégé could be a star of the future along with Red Bull’s Verstappen.And that is a sentiment that Otmar Szafnauer, Force India’s Chief Operating Officer, agrees with.He told Sky Sports: “It’s hard to know because they are driving different cars. But Max has … [Read more...] about Force India: Ocon as good as Verstappen