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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

Final 2015 Ford Edge performance and fuel economy data released

Ford unveiled the brawny look and heap of new tech of the all-new 2015 Edge last summer, and confirmed some of the pricing in November. However, until now buyers couldn't be entirely sure what they are getting for that money in terms of power and fuel economy, but the Blue Oval is finally spilling all the beans. For customers looking for performance, the Edge Sport is the place to be with its stiffer suspension and plusher interior. The trim level uses a version of the 2.7-liter EcoBoost V6 found in the latest F-150, but in this case the engine is tuned to 315 horsepower and 350 pound-feet of torque. That's a 10 percent jump in power and 25 percent improvement in torque compared to the naturally aspirated 3.7-liter V6 in the last-gen model, according to Ford. The mill should be a bit more useable too with peak twist coming on at 2,750 rpm, rather than 4,000 rpm in the previous Edge, and the Active Noise Cancellation system should keep it quiet inside, too. Front-wheel-drive versions of the Sport get EPA-estimated economy of 18 miles per gallon city, 27 mpg highway and 21 mpg combined. Opting for all-wheel drive reduces the figures to 17/24/20, respectively. Of course, not everyone is looking for the power of the Sport trim. In a first for Ford, the standard engine for the Edge is a 2.0-liter EcoBoost four-cylinder with 245 hp and 275 lb-ft. In front-wheel-drive form, it's rated at 20/30/24 mpg or with all-wheel drive at 20/28/23. For something in the middle the naturally aspirated 3.5-liter V6 brings 280 hp and 250 lb-ft of torque and carries EPA estimates of 18/26/21 with front-wheel drive or 17/25/20 when powering all four wheels. Every powertrain gets a six-speed automatic. Sales for the latest Edge begin this spring starting at $28,100, plus $895 destination on all models. Upgrading to the Sport pushes the price up to $38,100. Performance and Power: 2015 Ford Edge Sport Certified as Highest-Performing Edge Yet • 2015 Ford Edge Sport is the most powerful Edge yet, thanks to a 2.7-liter EcoBoost® V6 making 315 horsepower and 350 lb.-ft. of torque • All-new Edge Sport, re-engineered from the ground up, features special sport-tuned suspension, specific Sport styling for exterior and interior, and a long list of available driver-assist technologies • Scheduled to go on sale this spring, pricing for 2015 Ford Edge starts at $28,100; Edge Sport starts at $38,100 – only a $500 increase from 2014 DEARBORN, Mich., Feb.

Car and Driver shows off awesome 1960s ads

Someone must have recently rediscovered the keys to the archives at Car and Driver, and the access has been put to good use. Following last month's fantastic look at automotive ads from the '50s, there's now a new gallery running from March 1960 through December 1969. This collection provides a great overview of a decade full of iconic cars. If you're a fan of Carroll Shelby, particularly his Mustangs, then there's a lot to love among this group. One ad from July 1965 aimed to sell the GT350, but with an ocean of text and a tiny picture, it probably could've used a once-over by Don Draper's team. By December '65, the copywriters ironed out the problems with a spot proclaiming boldly "Shelby GT350 is 'Son of Cobra.'" The company offered some great accessories, too. For those into European motoring, there's a humorous attempt to sell the Alfa Romeo Giulia as both a racecar and family hauler. Toyota also boasts about the winning record for the 2000GT. Among the best text comes from BMW for lines like: "What's BMW got? The most advanced high-performance engine in any production car, for a cruising speed of 100 mph." Of course, Volkswagen's famous "Lemon" ad for the Beetle also gets its due here. Separately, each of these ads is fascinating, but taken together they tell the story of a great decade of motoring. Go give them all a read at Car and Driver. Related Video: News Source: Car and DriverImage Credit: GM Heritage Center Marketing/Advertising Read This Alfa Romeo BMW Ford Toyota Volkswagen shelby alfa romeo giulia shelby gt350 toyota 2000gt