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Quitting Mexico factory helps bring down Ford earnings $200 million in 2016

Ford released its 2016 earnings report this morning, and despite a fourth quarter net loss it proved to be the automaker's second most successful year ever, following record breaking numbers in 2015. Losses for the year come from a number of sources, including accounting changes and a $200 million hit for backing out of the small-car factory in San Luis Potosi, Mexico. Despite the loss, come March 9 about 56,000 UAW-represented employees will receive a $9,000 profit-sharing check. That, like most of Ford's other 2016 metrics, is slightly down from the year before, but it's still the second best profit-sharing payment ever. Total net income was $4.6 billion, down $2.8 billion from 2015. Total revenue for 2016 was $151.8 billion, up $2.2 billion. Ford's earnings report lists a global market share of 7.6 percent, down a tenth from 2015. Ford's European and Asia-Pacific markets posted their best and second best pre-tax profits respectively. The South American, Middle East, and African markets all took hits because of unstable economies and other external factors. Ford expects to have another down year in 2017 as it invests in new and emerging markets and focuses more on its mobility projects.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: Ford via Automotive NewsImage Credit: Getty Earnings/Financials Plants/Manufacturing UAW/Unions Ford Lincoln Mexico ford earnings

2013 Ford C-Max Hybrid

No Prius Killer
As much as we enthusiasts like to rail on the lowly Toyota Prius as the harbinger of death for all we hold dear, there's no denying the machine's absolute and interminable grip on the hybrid hatchback market in the United States. Toyota has so thoroughly sunk its teeth into the segment that you can clearly hear the automaker's incisors clacking against one another with the conclusion of each financial quarter. And there's little wonder why. Buyers can plop down less than $25,000 and have a runabout that can return up to an estimated 51 miles per gallon in the city, leaving every other entry on the market with precious little gristle to gnaw on.
Enter the 2013 Ford C-Max Hybrid. With its claimed 47 mpg combined, the funky little hatch from Europe already falls behind the 48 mpg city offered by the Prius, but that marginal sacrifice in fuel economy could be a small price to pay for buyers who want a credible alternative to the stalwart Toyota. Unfortunately, like the Fusion Hybrid, the C-Max Hybrid had trouble even approaching its Environmental Protection Agency estimates during our time with the car.

Lincoln electric SUV to use Ford-backed Rivian's 'skateboard' chassis

DETROIT — A battery-powered Lincoln SUV, due in mid-2022, will be the first Ford Motor Co. vehicle built on a custom electrified chassis that resembles a skateboard, which was developed by Ford-backed startup Rivian, according to several people familiar with the program. The all-wheel-drive Lincoln SUV could compete against Rivian's R1S, an electric sport utility vehicle slated to go into production in early 2021 that will be priced from $72,500. Both models will use Rivian's so-called skateboard, a flexible platform that combines electric motors, batteries, controls and suspension. On Tuesday, Ford declined to comment. Rivian did not respond to a request for comment. The new Lincoln, which carries the internal program code U787, also could compete with premium offerings from others, including General Motors Co <GM.N>, which plans to introduce at least two new electric SUVs by 2023, one for Cadillac and one that could revive the Hummer name, sources have said. Ford invested $500 million in Rivian this year and plans to help it begin production next year at a former Mitsubishi plant in Normal, Illinois. When Ford made the investment, it said it would use Rivian's skateboard to develop its own electric vehicle, but did not disclose details. It is not clear where Ford intends to build the Lincoln SUV, which will be among the first of several battery-powered utility vehicles planned for Ford's premium brand in North America and China, according to supplier sources familiar with those programs who asked not to be identified. Ford expects to introduce a compact Lincoln electric crossover in late 2021 or early 2022 and a mid-size companion in 2023, the sources said. The U.S. auto industry plans to invest billions of dollars over the next few years to build all-electric pickups and SUVs, sectors of the market that have been among the most profitable, especially for Detroit-based automakers. But analysts have questioned whether demand from consumers and commercial customers will come close to matching production. Founded in 2009, Rivian has raised $1.9 billion from investors, including e-commerce giant Amazon, which has ordered 100,000 electric delivery vehicles from Rivian. The first Amazon vans will be built in Normal and are to be delivered in 2021. Ford aims to sell an electric F-series pickup in late 2021, sources have said.