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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 Claims Focus As World's Best-Selling Car For Second Year In A Row

Ford Motor Co. has claimed its Focus sedan beat out the Toyota Corolla for the title of 'best-selling car in the world' for the second year in a row. The declaration was based on independent sales figures from January to September of 2013, according to USA Today. Last year, Ford used data from the analysis firm Polk to support its claim of having the best-selling car of 2012. Toyota objected, stating the Corolla sold more units. The numbers eventually showed that the Ford Focus was the best selling nameplate of the year, but may have been second to the Toyota sedan overall since multiple variations of the Corolla are sold under different nameplates around the world. Data from the analysis firm R.L. Polk found Focus registrations from January through September 2013 reached 856,587. Ford can thank booming car sales in China, where the automaker sold 303,481 units, for a sizable chunk of that number, which was a 16 percent increase over 2012. "Our success with Focus is the result of Ford's connection to our customers all over the world," said Jim Farley, an executive vice president at Ford. The Focus and Corolla both compete in the popular small sedan segment, along with other hot-selling cars like the Honda Civic, Hyundai Elantra and Chevrolet Cruze. These vehicles make a up a large portion of sales for their respective automakers, as they tend to hit a sweet spot for many consumers, coming with a starting sticker price under $20,000, solid fuel economy, plenty of cargo and passenger room and, lately, sharp exterior design and sportier driving dynamics. Related Gallery 2013 Ford Focus ST Test Drive Ford focus

Ford F-150 Raptor gets EcoBoost V6, new chassis and aluminum body [w/videos]

The Autoblog staff universally loves the Ford F-150 SVT Raptor, and the truck's about to get even better. Coming in the fall of 2016 (we'd assume as a 2017 model), the next off-road-ready pickup from Ford will boast an all-new, purpose-built, high-strength steel frame and a lightweight aluminum body that saves more than 500 pounds when compared to the current Raptor. It's six inches wider overall than the regular 2015 F-150, which both makes it look awfully mean but also aids in stability when driving fast off the road, and new LED lighting elements make it stand out when the sun goes dim. Under the Raptor's muscular hood will be a 3.5-liter EcoBoost V6 engine that will make more than the current 6.2-liter V8's 411 horsepower and 434 pound-feet of torque, though we don't have exact power figures for the next-gen Raptor quite yet. Also new will be a 10-speed automatic transmission, which will replace the current six-speed unit and ought to provide appropriate ratios for both rock crawling and high-speed desert trail running. Speaking of high-speed running, what makes the Raptor tick, perhaps more than any other single component, are its custom-designed suspension bits. Redesigned, larger Fox Racing Shocks with more suspension travel and all-new terrain management technology, combined with BFGoodrich All-Terrain KO2 tires, are the bits and pieces that allow for Baja-style off-roading. View 14 Photos The four-wheel-drive system in the next-gen Raptor will include a Terrain Management with settings for Normal driving, Street driving, Weather mode (for rain, snow or ice), Mud and Sand, Baja mode and Rock mode. According to Ford, the Raptor's new transfer case is designed to work as both a locking unit for crawling and a full-time unit for other off-road applications. A Torsen front differential will be optional. Basically, if all of this new stuff turns out to be as good in practice as it sounds in a press release, the next F-150 Raptor will only serve to separate Ford's off-road pickup even further from its half-hearted competitors. Feel free to watch the video and read more down below.