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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:

2021 Lincoln Corsair Grand Touring First Drive Review | Efficient, stylish and value-packed

With the introduction of the compact Corsair Grand Touring, Lincoln adds its second plug-in hybrid model. Like its bigger Aviator sibling, the plug-in Corsair shares technology with a Ford, but provides additional performance and a substantially improved interior that make it a credible luxury vehicle. And compared to other small plug-in SUVs, the Lincoln has pluses and minuses, but still is an attractive package for the right buyer thanks to strong value, efficiency and style. The Lincoln Corsair Grand Touring, like its internal-combustion counterparts, is based on the Ford Escape. Up front, it uses the same naturally aspirated 2.5-liter four-cylinder and electric motor as the Ford Escape PHEV, not to mention a motor-based CVT. But it picks up a rear-mounted permanent-magnet motor to provide additional power and all-wheel drive. It makes 266 horsepower combined, an increase of 46 ponies over the Ford. Compared with other Corsairs, it's just 16 horsepower more than the base Corsair with its turbocharged 2.0-liter engine, and it's down 26 horsepower from models with the optional turbo 2.3-liter engine. It's low on power compared to other slightly larger plug-in competitors such as the 304-horsepower Lexus NX 450e as well as the Audi Q5 E-Tron and BMW X5 xDrive45e, both of which make more than 350 horsepower. On the other hand, the Lincoln offers strong fuel efficiency. On a full charge, it can go an EPA-rated 28 miles on electricity. Running in gasoline-only mode, it gets 33 mpg. The aforementioned BMW can go 31 miles on a charge, but gets a paltry 20 mpg on gasoline only. The Q5 only goes 19 miles on a charge and gets 27 mpg on gas. The Lexus is the only one to top the Lincoln with 37 miles of EV range, and a gas-only fuel economy of 36 mpg. In practice, the Lincoln is, as you would expect of the numbers, no sports car, focusing instead on smoothness and reasonable refinement. Power delivery is extremely smooth, and there's no noticeable vibration added when the gas engine comes into play. You will hear it when it comes on, though, and it's not especially smooth. Thankfully, Lincoln has added more sound deadening as well as active noise cancellation to the Corsair in comparison to the Escape, so overall engine volume is low. Also, while the Corsair isn't fast, the torque from the electric motors means it's nippy around town. Being a plug-in hybrid, some of the Corsair's appeal is the ability to drive on full electric power.

Ford recalling 390,000 cars over door latch woes

Ford is recalling certain Fiesta, Fusion and Lincoln MKZ vehicles due to faulty door latches, marking the latest in what seems to be a recurring issue for the Blue Oval. This is the third door latch recall from Ford in 2015, following a 213,000-unit recall in March and a 205,000-unit recall in January. This one, however, is significantly larger. A total of 390,000 units are affected, including Fusions and MKZs from model years 2013 and 2014, as well as Fiestas from model years 2012 to 2014. A "broken pawl spring tab" is the culprit, potentially keeping doors from latching shut. According to Ford, even if the door does shut, it could come open again without warning. The affected Fiestas were built between February 1, 2012 and May 31, 2013 at the Cuautitlan, Mexico factory. The Fusion and MKZ siblings, meanwhile, were screwed together at Hermosillo Assembly in Mexico between July 1, 2012 to May 31, 2013. Ford is aware of three minor reports of door malfunctions. In two cases, the door bounced back open, quite literally hitting drivers on their way out. In the third case, a door swung open of its own accord while a driver was attempting to park, hitting another vehicle. Ford will notify owners, who will need to report into dealers to have all four latches replaced. Scroll down for the official press release. Related Video: APR 24, 2015 | DEARBORN, MICH. FORD MOTOR COMPANY ISSUES SAFETY RECALL IN NORTH AMERICA FOR DOOR LATCH ISSUE ON FORD FIESTA AND FUSION, LINCOLN MKZ Ford Motor Company is issuing a safety recall for approximately 390,000 2012-2014 Ford Fiesta and 2013-2014 Ford Fusion and Lincoln MKZ vehicles for a door latch issue. The door latch in these vehicles may experience a broken pawl spring tab, which typically results in a condition where the door will not latch. If a customer is then able to latch the door, there is potential the door may unlatch while driving, increasing the risk of injury. Ford is aware of two allegations of soreness resulting from an unlatched door bouncing back when the customer attempted to close it, and one accident allegation when an unlatched door swung open and struck an adjacent vehicle as the driver was pulling into a parking space. Affected vehicles include certain 2012-2014 Ford Fiesta vehicles built at Cuautitlan Assembly Plant, Feb.