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Jim Hackett says metal tariffs costing Ford $1 billion in profits

Ford CEO Jim Hackett divulged in an interview with Bloomberg that the Trump administration's tariffs on metals imported from the European Union, Canada and Mexico have affected the automaker's balance sheet, adding that trade disputes need a quick resolution. "From Ford's perspective, the metals tariffs took about $1 billion in profit from us," Hackett told the outlet. "The irony is we source most of that in the U.S. today anyways. We're in a good place right now, but if it goes on longer there will be more damage." Hackett did not specify what period the $1 billion covered, but a Ford spokesman said the CEO was referring to internal forecasts at Ford for higher tariff-related costs in 2018 and 2019. President Trump in March announced his intention to enact 25 percent tariffs on steel imports and 10 percent on imported aluminum from the three trade zones as a way to protect the U.S. steel industry. The move sent U.S. automakers' stock prices plunging at a time when they were coming off weak monthly sales reports. Separately, President Trump has targeted China with two rounds of tariffs targeting a combined $260 billion worth of imports. China has responded by enacting 25-percent tariffs on U.S. goods including vehicle imports. In the interview, Hackett said that has hurt demand for Lincoln, which has found a growing market for its luxury vehicles in China, and made the price of the Lincoln MKC less attractive to Chinese buyers. The MKC is built at the company's Louisville, Ky. assembly plant. "We've had to move people in that factory to other operations because of that trade problem," he said. It's not clear what those moves entail or how many workers were involved. Autoblog sought comment from a Ford spokeswoman and will update this story if we hear back. Ford last month announced it was scrapping plans to import the Focus Active small crossover to the U.S. from China because of the new 25-percent tariffs on Chinese imports. Material from Reuters was used in this report Related Video:

Ford recalling 65k Fusions from 2014 and 2015 because key can be removed

Ford is recalling an estimated 64,869 examples of the 2014-2015 Fusion, Fusion Energi and Fusion Hybrid in North America because the key can be removed when the vehicle isn't in Park under certain conditions. Specifically, the campaign covers 56,479 units in the US, 6,048 in Canada and 2,342 in Mexico, according to the automaker's tally on November 11.
Ford says a programming problem in the instrument cluster means that the key can be removed 30 minutes after the ignition is turned off, even if the transmission is not in Park. The situation where this could happen seems quite limited, and the company is not aware of any accidents or injuries related to the issue. However, the fault puts the vehicle out of compliance with federal regulations covering theft protection and rollaways, and must be repaired.
The fix is easy: Ford will reprogram the instrument cluster at no cost to consumers. According to Ford spokesperson Kelli Felker in an email to Autoblog, "We will notify customers the week of January 5th." Scroll down to read Ford's announcement.

Lincoln Continental to end after one-and-done generation?

After only 18 months on sale, the vultures of rumor have begun circling above the Lincoln Continental. Ford Authority says "sources intricately familiar with Ford Motor Company's future product plans" for the domestic luxury brand say the Continental won't get another chance at life after this generation. Those sources didn't detail Ford's reasons for dispatching the executioner on another sad task, but if this is true, even the reasons we can only guess make enough sense to justify the move. The Continental launched into a crossover mania still mushrooming in strength like some Marvel villain, the equivalent of a new dinosaur hatching a few months before the Chicxulub Impact Event. In 18 months, the Continental sold 18,846 units, 12,012 of those sales happening in 2017. In the U.S. this year, sales amounted to 1,573 units through February, about 25 percent down on the annualized monthly rate. It could be worse: The Lexus GS has found 1,009 U.S. buyers so far this year, the Acura RLX, 285. Conversely, the Cadillac XTS — yes, a fleet darling — secured 3,163 sales in the same period. And the German kingpins live in another dimension, with BMW scooting 5,641 5 Series models off dealer lots, and the Mercedes E-Class boasting 8,411 sales of all three variants. Even the much more expensive and much more profitable Lincoln Navigator rang up 2,351 sales in the first 60 days of 2018. That's disheartening reading, especially after Ford reportedly spent more than $1 billion to bring the Continental to market. Sedan segment woes look to have killed the Continental's platform siblings, too, making the Lincoln's demise simply part of the cull. The CD4 architecture also underpins the Ford Fusion and Lincoln MKZ. Ford canceled the Fusion redesign and won't commit to making either vehicle after 2020. Lincoln's passenger car sales declined more than 30 percent last month; meanwhile, Lincoln needs to spend its money on the crossovers that are selling, and investment in the coming three-row Aviator that will replace the MKT. Ford has a CD6 platform in development that suits front-, rear-, and all-wheel-drive vehicles. Under previous CEO Mark Fields, a new Fusion, Mustang, and MKZ would ride on the CD6, as well as the new Explorer and a Lincoln brother. Those plans left with the previous administration, and company sources told both Ford Authority and The Truth About Cars not to expect a Continental revival on that architecture. Related Video: