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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

Here are the best-selling cars and trucks from January 2015

Every month, Autoblog slogs through all the sales figures reported by automakers that do business in the United States, and, after a little bit of sorting, we put it into an easy-to-read chart in an attempt to make it as easy as possible to follow the ins and outs of sales and shipments. But that only covers the brands themselves, not the individual models they sell. And we think you'd all be interested in knowing which vehicles beat their rivals in sales from month to month, so we've put together this handy gallery to keep you in the know. While the leader of the pack may not come as much of a surprise, the order that the top ten finishes in changes frequently – due to automaker deals, the price of gas, etc. – and we've included some statistics to help you see how their current performance stacks up to month's past. Click here to see January 2015's Top Ten Best-Selling Cars And Trucks In America. By the Numbers Chevrolet Ford GM Honda Nissan RAM Toyota Car Buying

Obama to herald auto industry turnaround from idled Ford plant

President Barack Obama will tout the recent successes of the American auto industry in a speech on Wednesday. This would be a fine and dandy plan aside from two small hitches. First, the president is visiting Ford's Wayne, MI factory, which is rather strange considering the government bailed out the company's local rivals, Chrysler and General Motors. Even more worrying, considering the topic of the speech, is that the Wayne facility has been idled due to a lack of demand. According to The Detroit News, the White House said the speech will focus on "the workers in the resurgent American automotive and manufacturing sector now that the auto rescue has been completed and the decision to save the auto industry and the over one million jobs that went with it." Wayne Assembly employs some 5,100 Michiganders when its lines are up and running, but as gas prices have plunged below $2 per gallon in some areas over the past month, its fuel-efficient products – the Focus and C-Max – have seen their sales plummet, as well. In December, the Focus' year-over-year sales were down 4.4 percent, while the C-Max dipped 3.3 percent, Ford told The News. Lagging sales for the two compacts aren't a new thing, though. Focus sales in all of 2014 were down 6.4 percent, while the C-Max struggled with a 21.6-percent drop last year. According to The News, Ford made the decision to idle the factory before being approached by the White House. Considering that, we wonder what the team at 1600 Pennsylvania Avenue was thinking when it selected the Ford facility, and what impact the location will have on the president's message. News Source: The Detroit NewsImage Credit: Mira Oberman / AFP / Getty Images Celebrities Government/Legal Plants/Manufacturing Ford