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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

Ford bringing C-Max Solar Energi Concept to CES

Solar energy might not be enough to power a usable electric vehicle on its own, but that doesn't mean it can't lend a helping hand. And that's what Ford has in store for the Consumer Electronics Show opening next week in Las Vegas.
Ford has essentially taken its C-Max Energi plug-in hybrid and fitted it with the latest in solar panel technology developed by SunPower, acting like a magnifying glass to capture as much of the sun's energy as possible. So you get the benefit of an electric vehicle, with the range assurance of a hybrid, without needing to draw from the grid.
Ford estimates that a day of charging in the sunshine will give the C-Max Solar Energi concept the same full charge as the production PHEV, with a total range of 620 miles - 21 of which can be run on electric power alone. Otherwise the vehicle - which remains a concept for the time being - is identical to the existing C-Max Energi. The top-selling model in Ford's growing hybrid and electric vehicle portfolio helps put Ford just behind Toyota among the top seller of hybrids in America. Scope out the images in the gallery above and the video clip and press release below for a closer look.

Ford will keep Escape and MKC plant open an extra week to meet demand

Crossovers keep selling like popular pastries, and for Ford, that means it needs to keep production going. The company announced that, rather than the usual two-week shutdown, its Louisville, Ky., assembly plant will be open for one of those weeks. The plant builds the Ford Escape and Lincoln MKC, which Ford reports have had record sales. According to Ford, Escape sales through May are up 3 percent, and MKC sales are up 10 percent compared with last year. In total, the Escape has sold about 130,000 units through May, and the MKC has sold around 11,000. Keeping the Louisville plant open will allow the company to build an additional 8,500 vehicles. Ford stated that all other assembly plants will continue with the two-week shutdown as scheduled. Related Video: Featured Gallery 2017 Ford Escape: First Drive View 24 Photos Image Credit: Drew Phillips Plants/Manufacturing Ford Lincoln Crossover SUV Economy Cars Luxury lincoln mkc