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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:

Lincoln's second, more traditional, Super Bowl commercial

For its second Super Bowl commercial, Lincoln Motor Company has stepped away from the Max Ernst-ian surrealism of the "Steer the Script" spot. No Germans, no turtles, no aliens nor alpacas this time, just a 30-second run through the ways in which Lincoln sees the 2013 MKZ as a rebirth of the brand and everything a luxury consumer would want.
The kind of traditional spot that could run any time of year, the only question we had after watching it was: "Wait - was that... Abraham Lincoln?" Along with the press release from Lincoln, you can view the spot below.
If you want a deeper look and criticism into Lincoln's "Steer The Script," ad, have a read of AOL Autos' column: Lincoln's Super Bowl Ad is a Flop, written by Pete Bigelow.

Lincoln considering giving cars real names again

Enthusiastic reaction to the Continental concept might be the death knell for Lincoln's alphabet soup of monikers. "Without divulging the future, we're very excited about the Continental name and the attention it's gotten," Ford President of the Americas Joe Hinrichs said to Automotive News. Hinrichs admitted that the current MK names could confuse those not familiar with the models. Hinrichs suggested that one way Lincoln might differentiate itself was to "leverage its heritage." While this is certainly nothing explicit, the talk could be an indication of an upcoming overhaul for the brand's naming scheme. The Continental is set to hit the market next year as a replacement for the MKS as the company makes a major push into China. Lincoln bosses reportedly gave the designers the model name as inspiration for what to create. The brand's health has slowly been improving since former Ford CEO Alan Mulally was ready to completely kill the brand. Last year, a new boss was appointed to the helm, and there were reports of a modular platform under development. Let us know in Comments what Lincoln names you want to see revived. The Town Car is likely the best-known model from the brand after the Continental, and Zephyr has fairly recent history as the brief moniker for the MKZ. Related Video: