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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:

Diesel details: Comparing Ram 1500 EcoDiesel, Chevy Silverado Duramax, Ford F-150 Powerstroke

With specifications for the 2019 Ford F-150 Power Stroke diesel already out, and the details on the 2020 Ram 1500 EcoDiesel and Chevy Silverado Duramax (and its GMC Sierra twin) trickling out, we felt it was a good time to start comparing the full-size trucks' light-duty diesels. Bear in mind, we've only driven one of these new diesel trucks, so we'll be sticking to numbers for now. Some numbers haven't been announced yet, either, but stay tuned, because we'll be updating this post with additional specifications as they become available. And if you want to compare any other versions of these trucks with other vehicles, be sure to check out our comparison tool. Now let's start comparing, starting with our big chart of numbers below. As we can plainly see, these trucks are quite closely matched. Each one has six cylinders, a displacement of 3.0 liters and a turbocharger to boost it. The output of each is somewhat close, too. The Ram 1500 EcoDiesel is the torque king at 480 pound-feet, 20 more than the GM trucks and 40 more than the Ford. The GM trucks win on power, though, with 277 ponies, 17 more than the Ram, and 27 more than the Ford. GM does report that you get their trucks' peak 460 pound-feet of torque from 1,500 rpm to 3,000 rpm, whereas the others only report peak torque at a particular point in the rev band, but all of these trucks should have wide, flat torque curves as you would expect from modern turbodiesels. 2020 Ram 1500 EcoDiesel View 8 Photos Engine output is only one part of the truck performance equation. We also have towing and payload capacity, as well as fuel economy. With towing, the Ram 1500 is the current leader with a maximum capacity of 12,560 pounds. That tops the Ford F-150's 11,400-pound tow rating by well over 1,000 pounds. The F-150 can carry 2,020 pounds in its bed, but we don't know yet whether that's better or worse than the Ram or the GM trucks. We also don't have numbers for the GM trucks' towing capacities. View 9 Photos As for fuel economy, the Ford F-150 manages a thoroughly impressive 22 mpg in the city and 30 on the highway with two-wheel drive. Choosing four-wheel drive drops those numbers to 20 and 25 respectively. The fuel economy numbers for the Ram, Chevy and GMC haven't been revealed yet, but for some comparison, we can look at the old Ram EcoDiesel. That truck's best fuel economy was 20 in the city and 27 on the highway with two-wheel drive.

Chip Ganassi Racing switches to the Ford EcoBoost-powered Riley Daytona Prototype

Chip Ganassi Racing with Felix Sabates (CGRFS) announced yesterday at Ford's SEMA press conference that it will field a Ford-Riley Daytona Prototype with the 3.5-liter EcoBoost V6 in the 2014 United SportsCar Championship (USCC). CGRFS is the second team to commit to the new Ford-Riley car, behind Michael Shank Racing (which has already used the racecar to break a 26-year-old top-speed record at Daytona International Speedway).
"Over the last 10 seasons we have been able to experience a great deal of success in Grand-Am," Chip Ganassi says, "and now with the dawn of the new United SportsCar Championship we feel that Ford power will be a key ingredient to writing the next chapter of our sports car program."
In the last Grand-Am season, CGRFS raced a BMW-Riley Daytona Prototype. The team has won seven Daytona Prototype championships, all in the past ten years. Scott Pruett and Memo Rojas return as the team's prototype co-drivers, and will attend their maiden race in the Ford-Riley at the Rolex 24 at Daytona in January.