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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

Lincoln reveals MKC compact crossover ahead of LA debut [w/video]

It used to be that if you wanted a luxury SUV, you had to go big. Just look at the first high-riders released by some of the major luxury automakers - Audi Q7, Cadillac Escalade, Lexus LX - and you'll see what we mean. But since 2009 the small premium crossover segment has grown a whopping 200 percent, so it's no surprise that each has followed up with smaller luxury crossovers. And this is the latest.
At the other end of the utility spectrum from the Navigator, the new Lincoln MKC is based on the Ford Escape (much as the old pseudo-premium Mercury Mariner was), but completely rebodied and luxed up to put it in another league. Although we're still not sold on Lincoln's family fascia, the grille treatment on the MKC is certainly one of the better variations on the theme to date. The Dart-like rear lights dominate the wrap-around tailgate, and the overall shape looks taut and upscale. The same can be said of the dynamically-designed interior, taking the concept revealed in Detroit earlier this year to production fairly seamlessly.
Power will come from a choice of EcoBoost four-cylinder engines with turbocharging and direct injection: a 2.0-liter with 240 horsepower and 270 pound-feet of torque, or a slightly punchier new 2.3-liter with 275 hp and 300 lb-ft. Lincoln didn't disclose what transmission they'll be mated to, but did note that the MKC carries the brand's "signature" push-button gear shifter. It comes standard in front drive, but buyers who upgrade to all-wheel drive (or tick the right box) will also benefit from a new adaptive suspension Lincoln calls Continuously Controlled Damping. Other features include an approach-detection system that lights the car up and projects a Lincoln "welcome mat" on the pavement when you get close to the car, and a "bread-crumbing" feature that lets you track where your vehicle has been.

Lincoln scales back free maintenance

Complimentary scheduled maintenance programs have been great tools for luxury automakers to draw in new customers, but some are starting to scale their programs back considerably. According to Automotive News, Lincoln is joining Jaguar and Volvo on the list of automakers reducing the length of time it will be providing free maintenance to its customers.
Lincoln's four-year/50,000-mile maintenance program first kicked off as an incentive in 2010 and became permanent later that year, but starting with the 2014 model year, this will be cut to just two years and 24,000 miles. This could make short-term leases even more appealing for some consumers, but according to Automotive News, some Lincoln dealers are unhappy with the scaling back. The move admittedly comes at an odd time for Lincoln, with parent Ford seemingly working hard to increase consideration among luxury buyers as it looks to reverse the marque's long decline.