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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:

Does Lincoln Zephyr trademark mean a return to real names?

Lincoln's long history includes many legendary names, and despite its short life, Zephyr retains a spot in that pantheon. Perhaps its will return once again: Ford Motor Co. applied to trademark Zephyr on May 11. Trademark filings can have ambiguous meanings, and often they're legal plays to get or keep the rights to a name. But in the last year, we've seen signs Lincoln is looking to use real names on its vehicles again. Obviously, it's keeping Navigator for its flagship sport-utility vehicle with a new model due next year. Reprising Continental for the MKS replacement was also well received. That said, Lincoln still uses the MKX and MKC "names" for its crossovers. Zephyr is a dustier moniker. It was used in the 1930s and '40s on a mid-level model spearheaded by Edsel Ford. The stylishly aerodynamic model was set between the Ford V8 De Luxe and more expensive Lincolns. It returned in 2006 as the Lincoln version of the Ford Fusion before that model was renamed MKZ. Mercury also used Zephyr on its version of the Ford Fairmont in the late 1970s and early '80s. Ford last held a trademark on the Zephyr name in 2013. The filing says Ford seeks to use Zephyr for "motor vehicles and parts and accessories therefor." That could mean a new car — or just parts. Putting the Zephyr badge back on the MKZ is the most likely bet. Meanwhile, Ford also moved to get the Thunderbird trademark on May 11 for the same vehicles and parts purpose, and it filed for the Mustang trademark for shampoo and lotions on May 4. A Lincoln spokesman said, "In the normal course of our business, we file trademarks for names," but had no further information. Related Video:

Ford announces four recalls, 1.4M vehicles affected

Ford is taking a bit of the spotlight away from General Motors, announcing a major group of recall campaigns, covering a total of 1.4 million vehicles built between 2006 and 2013.
Let's start with the big one, which covers the Ford Escape, Mercury Mariner and, according to The Detroit News, Ford-built Mazda Tribute CUVs. 915,216 vehicles are covered, all of which were built in model years 2008 to 2011. 736,000 vehicles are in the US, while Canada then Mexico make up the vast majority of the remainder. The problem is due to an issue with the torque sensor in the steering column, which could lead to sudden power steering failure. Manual steering would still be available, though.
"Dealers will perform one of three service fixes, depending upon what diagnostic codes are shown when the vehicle is taken to the dealer," Ford spokeswoman Kelli Felker wrote to Autoblog in an email. "They will either update software for the power steering control module and the instrument cluster module; replace the torque sensor; or replace the steering column, which includes upgraded power steering control module software."