Limousine Lincoln Town Car Black 2003 on 2040-cars

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Ford 2Q profit drops 86% as it restructures overseas

DEARBORN, Mich. (AP) — Ford's net profit tumbled 86% in the second quarter due largely to restructuring costs in Europe and South America. Net income for the April-through-June period dropped to $148 million, or 4 cents per share. Without the charges the company made 28 cents per share. Revenue was flat at $38.9 billion. On average, analysts surveyed by FactSet expected earnings 31 cents per share on revenue of $38.49 billion. Chief Financial Officer Tim Stone says the company had charges of $1.2 billion as it moved to close factories in Europe and South America. He says Ford already is seeing an impact from its global fitness measures that included a reduction of 7,000 white-collar workers. Ford, which released numbers after the markets closed Wednesday, says its results include a $181 million valuation loss on an investment in a software company, trimming 4 cents off adjusted earnings per share. Its stock fell 6.3% in after-hours trading to $9.68. Stone said Ford is in the early stages of its restructuring, but already is seeing improvement in some regions. Free cash flow also improved by 80% to $2.1 billion in the first half of the year, he said. "We're already starting to see some early benefits," he said. "A lot of work to do." The company expects improvement in the second half of the year as more new big SUVs hit dealerships and more of the restructuring takes hold. Ford on Wednesday forecast pretax adjusted earnings of $7 billion to $7.5 billion for all of 2019, compared with $7 billion last year. The company previously had only said that pretax earnings would improve. Full-year adjusted earnings per share are forecast to be $1.20 to $1.35, up from $1.30 in 2018. Previously it did not give per-share guidance. Ford's U.S. sales fell nearly 5% in the second quarter, according to the Edmunds.com auto pricing site, as the company exited most of its passenger car business. But Stone said sales of the new Ford Ranger small pickup offset much of that as its share of the small truck segment rose 14%. Edmunds, which provides content for The Associated Press, said Ford's average vehicle sale price rose 2.8% to $41,328 during the quarter. In North America, Ford's biggest profit center, pretax earnings fell 3% to just under $1.7 billion, which the company blamed on switching its Chicago factory to build new versions of midsize SUVs.

2015 Lincoln Navigator

Typically, when I approach a new vehicle launch, it's with a degree of optimism. Nowadays, we just expect that every new vehicle will pose a legitimate challenge to segment leaders. Mid-cycle refreshes, meanwhile, have taken on a greater degree of importance, as customers' preferences for the freshest vehicles remains strong and automakers rush to keep the latest tech in their offerings.
Conversely, I admit to not being terribly optimistic hopping into the 2015 Lincoln Navigator. I was the first person from Autoblog to see the new model in the metal, way back in January ahead of its Chicago Auto Show debut, and my initial reaction was far from positive. But, as I'd been the one that initially tested the new Cadillac Escalade and had just finished a week in the long-wheelbase version of General Motors' most premium SUV, I was a natural candidate to head down to Louisville, KY - home of Navigator production - to sample the brand's latest.
Lincoln's attempt at freshening the old Navigator's bling-bling face is pretty typical of today's more thorough mid-cycle refreshes, with dramatically new front and rear clips. The addition of standard 20-inch wheels or optional 22s - in place of standard 18s and optional 20s - goes a long way towards modernizing the Navigator's staid exterior. The cabin, meanwhile, is home to finer leather, which covers most of the dash as well as the steering wheel and seats. Warm Ziricote wood would prove to be a particular highlight on the top-flight Reserve model that I drove (the only trim available for us to test).

Woman keying luxury car caught on tape

Toronto police are on the hunt for a disguised woman who was caught on camera Sunday keying a car. The woman sported a red bandana over her face and baseball cap as she ran up to the Lincoln MKS in a driveway, the Toronto Star reported. She then went to town with a sharp object, gleefully scratching the car's paint job. She runs off after nearly a minute of enthusiastic damage. Police believe the victim and the vandal know each other, since the Lincoln is the only car in the neighborhood she hit. This is also the third time this particular car has been damaged. They suspect this woman is responsible for the previous incidents. Toronto police told the Star that it will likely cost Lincoln owner thousands to have his car repaired. Security cameras are great for catching vandals in the act, though the videos are difficult for any car enthusiast to watch. Take for instance this video from London in April of a man scratching an Aston Martin while pushing a baby stroller. News Source: The Toronto Star Lincoln Videos vandalism scratch