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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

Enterprise working with renter's insurance to cover $47k Mustang stolen from its lot

There was more than a bit of public indigence following the recent story of Enterprise Rent-A-Car billing a customer $47,000 to replace a Ford Mustang GT Convertible stolen from a Nova Scotia lot. To recap: Kristen Cockerill rented the Mustang for two days, returned it to the lot on a Sunday and left the keys in a secure dropbox only for Enterprise employees to find the car gone the next day.
Despite Enterprise policies stating that customers are responsible for vehicles dropped on off-days, the company has admitted that the situation could've been handled a bit better.
In a recent statement, Enterprise has backed off the big-bill story, and claims to be working with Cockerill and her insurance company to resolve the issue. Further, the Enterprise general manager overseeing Nova Scotia has spoken with the harried renter, and apologized "for the way this claim was handled during the last few months."

2015 Ford Mustang dealer order guide surfaces

Details about the all-new, 2015 Ford Mustang continue to leak out. In fact, at this point, it's more of a stream than a drip. Its option prices are already available, and now the full ordering guide is on the web for all of the trims thanks to the Mustang 6G forum. Ford is rapidly running out of secrets to keep about its new sports coupe.
The 21-page guide can be perused in the gallery below and contains all of the standard features, colors, options codes, descriptions. Generally everything you might want to know about the 'Stang is there, other than its price or power. It even shows off the available wheel designs.
The guide finally gives away the contents of the Performance Package for the EcoBoost and GT trims. The EcoBoost's package includes: A larger rear sway bar, new chassis tuning, larger brake rotors, 19-inch black wheels, retuned driver assistance systems, an aluminum dash panel, added gauge pack, 3.55 limited slip rear differential, larger radiator, heavy-duty front springs and spoiler delete. When the options pricing leaked, it indicated the package would cost $1,995. If that is the case, it seems like quite a deal.