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Ford's Jim Farley hints at Lincoln sales rebound

If you're a fan of Lincoln, get ready for "a really great story" come May 1. That's how Ford marketing boss Jim Farley, in a call with analysts, characterized the coming April sales report for the MKZ. At the moment, there are probably few things that the executive VP could want more than a happy ending for the ballyhooed sedan that has made people cry boo-hoo for the past six months.
The massive glass roof of the MKZ is trying to support a burden that would make Atlas tap out, and it hasn't shattered, but it has shown a few cracks. The car we called "a big step in the right direction," the embodiment of the reinvention of the brand and a test of Lincoln's commitment to a new rear-wheel drive offering was given an $8-million dollar Super Bowl ad spend earlier this year, then quality control issues during its assembly scuttled deliveries. Lincoln got over that and kept up the ad blitz, now it just wants the good work to take hold.
If Farley's not leading us on, April could be the month. He said the results (so far) show "the product is being very well-received," inventory is finally where it should be and the MKZ Hybrid is doing better than expected. It bears noting that Lincoln is offering some aggressive incentive programs at the moment, including 0.9-percent APR and $1,000 off for conquest buyers stepping out of competitors' vehicles.

Lincoln teases electric concept SUV that will debut soon

An electric Lincoln concept vehicle is going to be revealed on April 20, and today Lincoln is giving us a quick glimpse of what to expect. Before we detail the few shots of the car itself, here’s all Lincoln told us about the vehicle: “The global concept serves as inspiration for our fully electric Lincoln vehicles coming in the near future.” So, expect to see elements taken out of this concept car applied to production cars later this decade. As of now, the main theme we can see in the teaser is light. Lincoln is using LED lighting tech all over the car, and itÂ’s even in some unique spots like the roof, hood and fenders. ThereÂ’s a good chance this lighting doesnÂ’t make it anywhere near a production car, but it gives us a look at where LincolnÂ’s heads are at with design. Clearly, light will be key. Where the light makes more sense is in the light-up Lincoln badges all over the concept. We can see the massive light-up badge in front, smaller light-up badge on the side and the “Lincoln” spelled out with light-up letters on the rear. ItÂ’s also important to note that this concept is an SUV of sorts. We can see very little of the actual design, but itÂ’s no surprise to see Lincoln using the SUV body style as inspiration for its future EVs. The little we can see of the grille/front of the car makes it look like a wide and largely empty expanse of space. Most of the detailing is shrouded in darkness, so weÂ’ll just have to wait until April 20 to see what Lincoln has cooked up for us. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Ford 2Q profit drops 86% as it restructures overseas

DEARBORN, Mich. (AP) — Ford's net profit tumbled 86% in the second quarter due largely to restructuring costs in Europe and South America. Net income for the April-through-June period dropped to $148 million, or 4 cents per share. Without the charges the company made 28 cents per share. Revenue was flat at $38.9 billion. On average, analysts surveyed by FactSet expected earnings 31 cents per share on revenue of $38.49 billion. Chief Financial Officer Tim Stone says the company had charges of $1.2 billion as it moved to close factories in Europe and South America. He says Ford already is seeing an impact from its global fitness measures that included a reduction of 7,000 white-collar workers. Ford, which released numbers after the markets closed Wednesday, says its results include a $181 million valuation loss on an investment in a software company, trimming 4 cents off adjusted earnings per share. Its stock fell 6.3% in after-hours trading to $9.68. Stone said Ford is in the early stages of its restructuring, but already is seeing improvement in some regions. Free cash flow also improved by 80% to $2.1 billion in the first half of the year, he said. "We're already starting to see some early benefits," he said. "A lot of work to do." The company expects improvement in the second half of the year as more new big SUVs hit dealerships and more of the restructuring takes hold. Ford on Wednesday forecast pretax adjusted earnings of $7 billion to $7.5 billion for all of 2019, compared with $7 billion last year. The company previously had only said that pretax earnings would improve. Full-year adjusted earnings per share are forecast to be $1.20 to $1.35, up from $1.30 in 2018. Previously it did not give per-share guidance. Ford's U.S. sales fell nearly 5% in the second quarter, according to the Edmunds.com auto pricing site, as the company exited most of its passenger car business. But Stone said sales of the new Ford Ranger small pickup offset much of that as its share of the small truck segment rose 14%. Edmunds, which provides content for The Associated Press, said Ford's average vehicle sale price rose 2.8% to $41,328 during the quarter. In North America, Ford's biggest profit center, pretax earnings fell 3% to just under $1.7 billion, which the company blamed on switching its Chicago factory to build new versions of midsize SUVs.