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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

2019 Lincoln Nautilus First Drive Review | A refresh that's more than skin deep

SANTA BARBARA, Calif. — Its name is new, but the 2019 Lincoln Nautilus is really a rebranded, restyled and updated version of the second-generation Lincoln MKX, which has been on sale since 2016. Renaming your bestselling vehicle is risky, but Lincoln has been struggling, and it feels the names of its vehicles are partly to blame. Recall that since 2007, Ford's luxury brand has used letters to name some models, including MKZ and MKX, and traditional names on others like Navigator and Continental. Well, now it's ditching the letters and renaming those vehicles. The MKX is now the Nautilus. The smaller MKC is rumored to become the Corsair, which was a name used by Edsel back in the 1950s. The seven-passenger Aviator will go on sale in 2019, and the MKZ's new name is anybody's guess. Zephyr again, maybe? NordicTrack is already taken. Lincoln has also been rolling out a new grille design, which debuted on the Continental in 2017 and replaces the unloved winged look that was supposed to remind luxury buyers of the elegance of the 1939 Lincoln Continental — but didn't. Fitting the new grille to the 2019 Nautilus completes that rollout, and the five-passenger SUV is certainly more handsome than before. Its mesh is a repetition of the Lincoln Star logo, and it works. The SUV's front fascia, headlamps and hood are new as well, and the hood has grown a sizable and attractive center peak. Underneath that hood is a new 2.0-liter turbocharged four-cylinder with direct injection. It's the same engine used in the smaller MKC and the Ford Edge, which shares the Nautilus' chassis, but Lincoln doesn't use the name EcoBoost for this and its other powerplants. The 2.0-liter replaces the naturally aspirated 3.7-liter V6 as the standard engine, and it's rated 250 horsepower at 5,500 rpm and 280 lb-ft of torque at 3,000 rpm on 93 octane fuel. Those numbers are down from the V6, which was rated 303 hp at 6,500 rpm and 278 lb-ft of torque at 4,000 rpm. But Lincoln has also replaced the antiquated six-speed automatic transmission with an eight-speed, so overall performance is comparable, and city fuel economy is up significantly. With the V6 and front-wheel drive, the MKX was rated 17 mpg city and 25 mpg highway. The new combination has a 21 mpg city rating. The considerably more powerful twin-turbo 2.7-liter V6 remains optional, rated 335 hp at 5500 rpm and 380 lb-ft of torque at 3250 rpm.

Ford Announces Four Recalls, 1.4M Vehicles Affected

Ford is taking a bit of the spotlight away from General Motors, announcing a major group of recall campaigns, covering a total of 1.4 million vehicles built between 2006 and 2013. Let's start with the big one, which covers the Ford Escape, Mercury Mariner and, according to The Detroit News, Ford-built Mazda Tribute CUVs. 915,216 vehicles are covered, all of which were built in model years 2008 to 2011. 736,000 vehicles are in the US, while Canada then Mexico make up the vast majority of the remainder. The problem is due to an issue with the torque sensor in the steering column, which could lead to sudden power steering failure. Manual steering would still be available, though. "Dealers will perform one of three service fixes, depending upon what diagnostic codes are shown when the vehicle is taken to the dealer," Ford spokeswoman Kelli Felker wrote to Autoblog in an email. "They will either update software for the power steering control module and the instrument cluster module; replace the torque sensor; or replace the steering column, which includes upgraded power steering control module software." The most recent generation of the Ford Explorer is suffering from a similar malady, thanks to an intermittent electrical connection (we think that means short circuit) in the steering column. Like the Escape and Mariner, manual steering would still be available in the event of a power failure. Ford will recall 195,527 examples of its Explorer, 177,500 of which are in the US. This recall covers model years 2011 to 2013. According to Automotive News, the National Highway Traffic Safety Administration has stated that Ford will inform owners of affected vehicles by July 25. Ford is also recalling 200,000 Taurus sedans, over a corrosion issue in the license plate lamp. This particular recall, which covers vehicles from model years 2010 to 2014, is limited to drivers in northern climes. Vehicle owners in southern states are free to pass on the recall. Finally, 82,576 Fusion, Mercury Milan and Lincoln Zephyr/MKZ sedans from 2006 to 2011 are being recalled because of floormats that can interfere with the accelerator pedal. Dealers will replace the offensive floormats with newer examples. "Ford is committed to providing our customers with top quality vehicles. We are equally committed to addressing potential issues and responding quickly for our customers," Felker wrote.