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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 Aviator debuts as stylish 3-row crossover with a surprise

NEW YORK — At a studio in the Meatpacking District in Manhattan, after a walk through an "art gallery" full of inspiration for Lincoln's newest midsize, three-row Aviator crossover, we saw the company's future. That's not breathless hyperbole, either. Lincoln's huge Navigator is selling like gangbusters, but the aging MKT is a sad vestige of the company's last attempt to reinvent itself. The company needs an attractive, well-proportioned three-row with contemporary powertrains to complement the MKC and the larger Nautilus (nee MKX). For those wondering, the MKC is likely to get renamed at its next refresh, and the lousy MK__ naming convention will finally die. But while the names are refreshing, that's not the reason the Aviator is so important. For one, it'll almost certainly lend its underpinnings, which are rear-wheel-drive based, to the next Ford Explorer. The other is that it's an all-important three-row, a conventionally-shaped one rather than the awkward MKT's long, lumpy look. The Aviator — the vehicle we saw is a preview, not a production model, but is extremely close to production — has style and presence. There's more than a bit of Range Rover Velar in the look, but it's not a clone. And the interior is a wonderful interpretation of the larger Navigator's bold, distinctive and purely American look. View 20 Photos While many, many details are unspecified at this stage — including exact engine details, dimensions, and the like — there's enough there to draw some conclusions about the new Aviator. For one, it's got a version of the Navigator's elegant interior. Those Perfect Position seats, also seen in the Continental, covered with soft leather, are central to the Aviator's interior experience. When's the last time beautiful seats were such a selling point? Other than Volvo, no one's put enough attention on unique and particularly comfortable seats. It's a unique selling proposition and, also, a nice aesthetic detail. You could say the same for the dash design: It's low and sleek, with solid but not bulky elements and the sort of tastefulness normally reserved for Scandinavian industrial design. Back to the rear-drive platform and what little else we know of the powertrain. For one, it'll feature a twin-turbocharged EcoBoost engine with an available plug-in hybrid option. As far as we can tell, both versions will use the same engine, and there are no optional engines outside of this.

Cadillac Escalade gets $5,000 discount to ward off Lincoln Navigator

General Motors apparently isn't going to let early good reception for the redesigned Lincoln Navigator steal thunder from its own luxury SUV without a fight. It's offering a $5,000 discount on the purchase or lease of the Cadillac Escalade this month to any buyer who trades in a 1999 or newer Lincoln model, Bloomberg reports. GM spokesman Jim Cain told Bloomberg the incentive is being offered to keep prices competitive for the Escalade. The 2018 Navigator starts at $72,055, compared to $73,995 for the Escalade, but the outgoing version of the Navigator is selling for an average of around $53,000, compared with more than $80,000 on average for the Escalade, he said. The Escalade was the top-selling domestic luxury SUV in October and No. 4 in the segment, according to Motor Intelligence. It far outsold the Navigator, which last saw a refresh in 2015 and a full redesign in 2007. But Ford is hoping to gain back some ground with the new Navigator and updated Expedition, which also trails the Chevrolet Tahoe and Chevy Suburban in its segment. Bloomberg notes that one Morgan Stanley analyst estimates that GM owns a $2 billion annual pretax profit edge in the lucrative luxury sport utility segment. Our recent First Drive review called the new Navigator "far superior to its primary competitor, the Cadillac Escalade."Related Video: