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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:

Matthew McConaughey Lincoln pitches drive on with new MKZ ads

You didn't think a few spoofs were going to break up Lincoln and pitch-man Matthew McConaughey, did you? With more than three million extra free views of Lincoln products on YouTube because of the send-ups – and no one is making fun of the car, remember – the brand rightly concludes, "We couldn't ask for better." That's why the pair are back, this time working on behalf of the MKZ and MKZ Hybrid. The two commercials "Balance" and "Diner" are new, but the formula is the same - cinematic, contemplative, channeling more than a bit of True Detective. They'll hit broadcast channels during college bowl games on New Year's Day. You can watch "Balance" above and "Diner" below, and the press release further down has more details. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Matthew McConaughey Gets Behind Wheel of 2015 Lincoln MKZ in New Ads Airing Jan. 1 - The Lincoln Motor Company teams up again with Academy Award™ winner Matthew McConaughey to create Lincoln MKZ and Lincoln MKZ Hybrid ad campaign that will begin airing during high-profile New Year's Day college football bowl games - Two new TV and online ads will promote Lincoln MKZ and Lincoln MKZ Hybrid midsize sedans, which have given a new direction to the brand with their introduction two years ago - Lincoln's previous collaboration with McConaughey, the "Live in Your Moment" campaign, fueled early sales success of 2015 Lincoln MKC small premium utility DEARBORN, Mich., Dec. 29, 2014 – In the bright spotlight of New Year's Day college football bowl games, The Lincoln Motor Company will launch its newest ad campaign promoting the 2015 Lincoln MKZ and Lincoln MKZ Hybrid and featuring Matthew McConaughey. Filmed in a style and tone consistent with last summer's much-talked-about "Live in Your Moment" ads for the first-ever Lincoln MKC, the new campaign brings the attention back to the premium midsize sedan that has been Lincoln's best-selling vehicle since arriving in showrooms two years ago. "The overwhelming response to the MKC campaign sparked truly great awareness for Lincoln," said Andrew Frick, Group Marketing Manager Lincoln. "Matthew's natural storytelling ability perfectly complements the Lincoln story as we continue to raise awareness and drive conversation in creative and unexpected ways.

Consumer Reports says these are the worst new cars of 2014

Consumer Reports has announced its annual list of worst vehicles, a cringe-inducing contrast to its list of top vehicles. Ignominiously leading the way in 2014 is Chrysler, which has a staggering seven models listed.
Jeep nearly sweeps the small SUV segment by itself, with its Compass, Patriot and 2.4-liter version of the new Cherokee, while the only midsize sedans listed by CR were the Chrysler 200 and Dodge Avenger. The new Dodge Dart and the Dodge Journey round out CR's condemnation of Chrysler.
Ford is taking heat as well, with the Taurus, Edge and their counterparts from Lincoln all listed as the worst vehicles in their respective segments. Toyota doesn't fare much better, with its Lexus IS, Scion iQ and tC also making the list.