2007 Lincoln Mark Lt No Reserve Damaged Salvage Repairible on 2040-cars

Auto blog

Ford 2Q profit drops 86% as it restructures overseas

DEARBORN, Mich. (AP) — Ford's net profit tumbled 86% in the second quarter due largely to restructuring costs in Europe and South America. Net income for the April-through-June period dropped to $148 million, or 4 cents per share. Without the charges the company made 28 cents per share. Revenue was flat at $38.9 billion. On average, analysts surveyed by FactSet expected earnings 31 cents per share on revenue of $38.49 billion. Chief Financial Officer Tim Stone says the company had charges of $1.2 billion as it moved to close factories in Europe and South America. He says Ford already is seeing an impact from its global fitness measures that included a reduction of 7,000 white-collar workers. Ford, which released numbers after the markets closed Wednesday, says its results include a $181 million valuation loss on an investment in a software company, trimming 4 cents off adjusted earnings per share. Its stock fell 6.3% in after-hours trading to $9.68. Stone said Ford is in the early stages of its restructuring, but already is seeing improvement in some regions. Free cash flow also improved by 80% to $2.1 billion in the first half of the year, he said. "We're already starting to see some early benefits," he said. "A lot of work to do." The company expects improvement in the second half of the year as more new big SUVs hit dealerships and more of the restructuring takes hold. Ford on Wednesday forecast pretax adjusted earnings of $7 billion to $7.5 billion for all of 2019, compared with $7 billion last year. The company previously had only said that pretax earnings would improve. Full-year adjusted earnings per share are forecast to be $1.20 to $1.35, up from $1.30 in 2018. Previously it did not give per-share guidance. Ford's U.S. sales fell nearly 5% in the second quarter, according to the Edmunds.com auto pricing site, as the company exited most of its passenger car business. But Stone said sales of the new Ford Ranger small pickup offset much of that as its share of the small truck segment rose 14%. Edmunds, which provides content for The Associated Press, said Ford's average vehicle sale price rose 2.8% to $41,328 during the quarter. In North America, Ford's biggest profit center, pretax earnings fell 3% to just under $1.7 billion, which the company blamed on switching its Chicago factory to build new versions of midsize SUVs.

A car writer's year in new vehicles [w/video]

Christmas is only a week away. The New Year is just around the corner. As 2014 draws to a close, I'm not the only one taking stock of the year that's we're almost shut of. Depending on who you are or what you do, the end of the year can bring to mind tax bills, school semesters or scheduling dental appointments. For me, for the last eight or nine years, at least a small part of this transitory time is occupied with recalling the cars I've driven over the preceding 12 months. Since I started writing about and reviewing cars in 2006, I've done an uneven job of tracking every vehicle I've been in, each year. Last year I made a resolution to be better about it, and the result is a spreadsheet with model names, dates, notes and some basic facts and figures. Armed with this basic data and a yen for year-end stories, I figured it would be interesting to parse the figures and quantify my year in cars in a way I'd never done before. The results are, well, they're a little bizarre, honestly. And I think they'll affect how I approach this gig in 2015. {C} My tally for the year is 68 cars, as of this writing. Before the calendar flips to 2015 it'll be as high as 73. Let me give you a tiny bit of background about how automotive journalists typically get cars to test. There are basically two pools of vehicles I drive on a regular basis: media fleet vehicles and those available on "first drive" programs. The latter group is pretty self-explanatory. Journalists are gathered in one location (sometimes local, sometimes far-flung) with a new model(s), there's usually a day of driving, then we report back to you with our impressions. Media fleet vehicles are different. These are distributed to publications and individual journalists far and wide, and the test period goes from a few days to a week or more. Whereas first drives almost always result in a piece of review content, fleet loans only sometimes do. Other times they serve to give context about brands, segments, technology and the like, to editors and writers. So, adding up the loans I've had out of the press fleet and things I've driven at events, my tally for the year is 68 cars, as of this writing. Before the calendar flips to 2015, it'll be as high as 73. At one of the buff books like Car and Driver or Motor Trend, reviewers might rotate through five cars a week, or more. I know that number sounds high, but as best I can tell, it's pretty average for the full-time professionals in this business.

2020 Lincoln Corsair spied inside and out, ready to replace the MKC

Last year we were told the Lincoln MKC crossover would be renamed the Lincoln Corsair for the 2020 model year. A full exterior and interior redesign is on its way to go with the name change, one we get to see up close and personal here. We were led to believe that the Corsair would take its design cues from the handsome three-row Aviator SUV. That sentiment rings true for the exterior and interior as we take a look at these first spy shots of the smallest Lincoln crossover. The silhouette of the Corsair is near spot-on that of the Aviator's — it's smaller in every way, but styling elements like the grille, taillights, tapered rear window and overhanging spoiler all scream Aviator. Even the wheels look ripped straight from a lower-spec Aviator. We think that's great, because the Aviator is one hell of a looker now that all the camouflage has been stripped off it. Lincoln is bringing its new interior styling to the small crossover too, it appears. The shots we get to see here show that this won't even come close to resembling its redesigned Escape sibling on the inside. Instead, we're feeling Navigator and Aviator vibes all over. The big screen perched on top, chrome everywhere and classy appearance is reassuring; any concern over seeing a Lincoln version of a Ford on the inside should be wiped away with these photos. This interior looks like it's ready for the showroom floor, too. We're thinking you'll likely be able to buy one before the year is done. A report earlier this week shed some light on possible powertrain options we could see on this crossover related to the Ford Escape. A 2.0-liter Ecoboost engine is likely to be the base option, while the 2.3-liter Ecoboost will remain as an upgrade. The possibility of a plug-in hybrid version looms, though. With the Lincoln Aviator going that route, an electrified option for the smaller crossover could prove appealing for some buyers not wanting to pony up for the big Aviator. A reveal for this crossover should be coming soon at this rate, possibly even at the N.Y. Auto Show in April this year. Related video: