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Auto Services in KentuckyTri-State International Trucks ★★★★★New Car Dealers, New Truck Dealers, Truck Service & Repair Address: 191 Parker Ave, Oakland Phone: (270) 843-9031 South Louisville Paint & Body Shop ★★★★★Automobile Body Repairing & Painting Address: 7105 Southside Dr, Louisville Phone: (502) 366-2033 Singletary Automotive ★★★★★Auto Repair & Service, Automobile Consultants Address: 10417 Taylorsville Rd, Buckner Phone: (502) 297-8100 Roppel`s Auto Service Centers ★★★★★Auto Repair & Service, Automobile Parts & Supplies, Radiators Automotive Sales & Service Address: 11601 Shelbyville Rd, Louisville Phone: (502) 244-0040 Raymond`s Wrecker Service ★★★★★Auto Repair & Service, Automotive Roadside Service, Towing Address: 641 Pride Ave, Grapevine Phone: (270) 821-8186 R B & S Automotive ★★★★★Auto Repair & Service Address: 550 N Main St, Island Phone: (270) 274-3385 Auto blog2015 Lincoln Navigator puts on a brave face, offers EcoBoost V6 onlyThu, 23 Jan 2014
Jim Hackett says metal tariffs costing Ford $1 billion in profitsWed, Sep 26 2018Ford 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: Ford's struggles in China continue as November sales drop 8 percentMon, Dec 11 2017Ford's sales in China fell 8 percent in November from a year ago, following a 5 percent decline in October, the U.S. automaker said on Monday. The firm's sales in the first 11 months of the year totaled 1.06 million vehicles, down 6 percent from the same period a year ago. Ford's China sales growth has lagged behind rivals in the world's top auto market this year, with the carmaker now looking to overhaul its strategy to revive growth in China under new chief executive Jim Hackett. Among other moves, the review of its China operations will likely see Ford focus on segments such as electric cars and electric commercial vans, with China encouraging to help clean up its polluted and congested city centers. Ford is looking to roll out more new-energy vehicles for China and is planning to experiment with a more direct selling approach in a partnership with Chinese e-commerce giant Alibaba Group Holding Ltd. Reporting By Norihiko ShirouzuRelated Video: 2040Cars.com © 2012-2025. All Rights Reserved. Designated trademarks and brands are the property of their respective owners. Use of this Web site constitutes acceptance of the 2040Cars User Agreement and Privacy Policy. 0.042 s, 7841 u |