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Lincoln's first full EV coming in 2022 as part of electrification push

Ford may be grabbing all the electric headlines right now, but soon Lincoln will be snagging a few, too. In a presentation to the media, the company outlined its electrification strategy for this decade, and it really kicks off next year with the first full electric Lincoln. Lincoln hasn't said much about what this 2022 EV will be like, not even whether it will be a crossover or a sedan. But the company did say the EV will be based on a modular electric platform supporting rear- or all-wheel drive. It's a new platform not related to the current Mustang Mach-E. This electric vehicle will also be the first of four full EVs launched between now and 2030. Lincoln will also increase its electrification of internal-combustion models. The goal is for the entire line-up to be electrified by 2030, and half of the brand's volume is expected to be electrified around 2026. Besides electrification, Lincoln highlighted some other steps it was taking to make the brand and the ownership experience more appealing. Technology and services were highlights. It's putting out its first over-the-air updates for the Lincoln Nautilus this summer with improvements for navigation, Apple CarPlay and the digital owner's manual. Amazon Alexa assistant is coming to Lincolns this fall, and hands-free driving assist is coming later. Lincoln is also playing with new services, such as a refueling and car cleaning service that's being tested in Houston. Finally, the company is adding more standalone retail stores with a new, more luxurious and customer-focused design. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Ford Q3 pretax profits drop to $1.18B

Following positive third quarter financial results recently from General Motors, rival Ford took a tumble in Q3. The automaker posted pre-tax profits of $1.18 billion, compared to about $2.59 billion in Q3 2013, a drop of around 54 percent. Net income also suffered with $835 million made in the quarter, versus $1.272 billion last year, a decline of about 34 percent. The Blue Oval blamed the gloomy figures on three reasons in its release: "lower volume, higher warranty costs and adverse balance sheet exchange effects."
There were problems of one kind or another in practically every region. North America experienced higher warranty costs than expected, partially due to recalls. The sales volume for the quarter was 665,000 units, versus 725,000 in Q3 2013, and pre-tax results amounted to $1.41 billion versus $2.296 billion last year.
South America and Europe both posted worse pre-tax results than last year. On the bright side, European volume was up slightly to 321,000 vehicles, from 303,000 in Q3 2013. The Middle East and Africa also lost $15 million, but that was an improvement compared to the $25 million loss previously experienced in this region.

Lincoln dealers frustrated over slow MKZ production ramp-up

Lincoln has clearly been working hard to get the word out about its 2013 MKZ sedan. The Dearborn automaker has taken out lavish spreads to trumpet its boldly styled new model in magazines of every description, along with placing commercials for both the vehicle and the reborn brand behind it on all manner of television programs, including the super-costly Super Bowl earlier this month.
Pity, then, that Lincoln dealers don't have enough MKZs to sell. According to The Detroit News, parent company Ford has spent a good portion of its time at this week's National Automobile Dealers Association meeting in Florida attempting to pacify upset dealers who don't have enough examples of the pivotal new vehicle in stock.
As the DetNews notes, Lincoln only sold 453 MKZs last month, a whopping 73-percent decrease over the same period last year when the sedan's predecessor was on sale. In fact, the stunted supply had enough impact that Lincoln's January figures worked out to a 32-year low for the brand, just as it's trying to get back on its feet. This, despite the fact that the MKZ is said to have the biggest number of pre-orders in the marque's history.