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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 Fusion demand outstripping supply

The attractive new 2013 Ford Fusion has done wonders for the brand in the highly competitive midsize sedan segment - the vehicle is up nearly 22 percent compared to last year. But that sales momentum may soon hold steady due to low inventory levels of the new Fusion across the United States.
According to a report in The Detroit News, citing automotive data and Ward's Auto, Ford currently has a 39-day supply of the Fusion. That might sound fine, but a normally healthy average is about a 60-day supply. If Ford were to stop production on the Fusion today, there would only be enough vehicles available to get through another five weeks of sales, according to the News.
Currently, Ford produces the Fusion at its three-shift assembly plant in Hermosillo, Mexico, and will add production at its facility in Flat Rock, MI later this year. A Ford spokesperson told The Detroit News that when Flat Rock production comes online, the automaker will need to rush new stock out to the regions with the most demand for the Fusion. Ford has doubled its coastal retail market share, with huge amounts of growth in areas like Los Angeles, San Francisco and Miami, the News reports.

Ford Fiesta ST orders off to strong start

We at Autoblog love the new little Ford Fiesta ST, and apparently, folks in Europe are pretty impressed with it, as well. According to Ford, the automaker's European arm has already logged 3,000 orders for the new hot hatch since it hit dealerships this March. The US-spec car, which will only be available as a five-door, will go on sale in the United States this summer.
What's perhaps most interesting about the Fiesta ST ordering is that the majority of customers appear to be ordering high-spec cars. According to Ford data, 60 percent of customers have opted for the leather interior with Recaro buckets, and 90 percent have selected the upgraded 17-inch wheels (seen on our test car, above). Spirit Blue has been the most popular color, commanding 27 percent of all orders. As for the technology upgrades, 19 percent of customers have ponied up for the Sony stereo with navigation.
To recap, the Fiesta ST is offered with Ford's 1.6-liter EcoBoost four-cylinder engine, putting out 179 horsepower and 177 pound-feet of torque, mated exclusively to a six-speed manual transmission. We had an absolute blast flinging the hot Fiesta through the French Alps, and we can't wait for this sharp little hatch to make its way over to the States.