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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:

NHTSA will investigate some Ford Fusion, Lincoln MKZ models for power steering issue

The National Highway Traffic Safety Administration is opening an investigation into the 2010-2012 Ford Fusion, Fusion Hybrid and Lincoln MKZ, the 2012 MKZ Hybrid and 2011 Mercury Milan because the agency has hundreds of complaints of electric power steering failure in these models.
According to NHTSA's data, it has received 508 complaints of the power steering allegedly suddenly malfunctioning and resulting in increased effort to turn the wheel. In four incidents, these failures resulted in loss of control and crashes. According to the reports, in some cases a power steering warning message came on as the fault occurred, and other times the system restored itself by turning off and then restarting the vehicle. NHTSA said it has also received further field report data from Ford, but that information hasn't been publicly released yet.
For the moment, there isn't a recall for this failure on these models. NHTSA is just investigating them to "assess the scope, frequency and safety consequences of the alleged defect," and the agency says an estimated 938,000 vehicles could potentially be affected.

Lincoln hijacks Cadillac's 'Dare Greatly' tagline

Talk about comedy - not even 24 hours after Cadillac teased its CT6 while inviting us to "Dare Greatly" during the Oscars telecast, Lincoln was doing the same but on Google. An anonymous tipster informed us the day after the Oscars that typing "dare greatly" into Google returned two ads before the search results. When we checked it over the course of a few hours, the first ad was always for Cadillac and either read, "Cadillac - Dare Greatly - Only those who dare drive the world forward," or, "Cadillac - Dare Greatly - It's not the critic who counts, it's the man in the arena." (On a side note, come on, Cadillac - "the man in the arena?" Well. It's a quote. Suppose that's all right, then.) The second result was for Lincoln and read, "Dare Greatly - It's not about making a statement, it's about doing what you love," with the associated URL being www.lincoln.com/dare+greatly. The first time we clicked it, it went to the Lincoln homepage showing the 2015 MKZ Hybrid. The second time, we got a page saying that the Lincoln site wasn't available; the Lincoln site was fine, the link didn't work. There's no reference to the Google joke at the Lincoln site - this was just about getting eyeballs. The English have the perfect phrase for Lincoln's provocation: "You've got some cheek!" We think it cunning, dastardly, and funny, and there's no doubt it worked - they knew people would flock to search the term. One of our competitors, Autotrader, said that within an hour of the first of four Cadillac spots airing during the Oscars, car searches for Cadillac vehicles climbed 53 percent from pre-Academy Award coverage levels. Searches for Cadillac cars were up 120%, they said. If this is Round One of our homegrown scrappy old-timers going at it, we're all for it. News Source: Google Marketing/Advertising Cadillac Lincoln Luxury