1971 Ford Torino Gt Drag Car on 2040-cars

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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:

2015 Ford Mustang will tell authorities how you crashed and if you were belted [w/video]

When the 2015 Ford Mustang hits dealers, it will be with a new batch of features that will power up Sync's 911 Assist feature, and provide an even greater degree of information to first responders in the event of an accident.
911 Assist will already make a phone call, via a Bluetooth-connected phone, should you bin your car. The automatic message to first responders is a pre-recorded blurb from Ford. With the new enhancements, though, emergency personnel can learn about the maximum change in velocity and whether the crash involved a front, rear, side or a rollover impact. 911 Assist will also send information about how many seat belts were in use and if airbags deployed, allowing more accurate dispatch of resources.
"Sync will only broadcast relevant information to save time, and it constructs a very efficient message for the operator," said David Hatton, the global project leader with Ford Connected Services. "After the introductory message, the voice line opens automatically and occupants can speak directly with the operator via Sync's hands-free functionality."

TRANSLOGIC 147: CES 2014 Autonomous Vehicles

We head back to CES in Las Vegas to check on the progress of autonomous vehicles in 2014. We go hands-free on the highway with Audi, narrowly avoid a collision with Ford and hear all about BMW's drifting driverless car. But first we take a ride on Induct's self-driving Navia shuttle.