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Quitting Mexico factory helps bring down Ford earnings $200 million in 2016

Ford released its 2016 earnings report this morning, and despite a fourth quarter net loss it proved to be the automaker's second most successful year ever, following record breaking numbers in 2015. Losses for the year come from a number of sources, including accounting changes and a $200 million hit for backing out of the small-car factory in San Luis Potosi, Mexico. Despite the loss, come March 9 about 56,000 UAW-represented employees will receive a $9,000 profit-sharing check. That, like most of Ford's other 2016 metrics, is slightly down from the year before, but it's still the second best profit-sharing payment ever. Total net income was $4.6 billion, down $2.8 billion from 2015. Total revenue for 2016 was $151.8 billion, up $2.2 billion. Ford's earnings report lists a global market share of 7.6 percent, down a tenth from 2015. Ford's European and Asia-Pacific markets posted their best and second best pre-tax profits respectively. The South American, Middle East, and African markets all took hits because of unstable economies and other external factors. Ford expects to have another down year in 2017 as it invests in new and emerging markets and focuses more on its mobility projects.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: Ford via Automotive NewsImage Credit: Getty Earnings/Financials Plants/Manufacturing UAW/Unions Ford Lincoln Mexico ford earnings

2016 Lincoln MKX images and details hit the web

Well, what do we have here? In what we're assuming is an accidental leak, a live URL from Lincoln Canada has been brought to our attention, and it's chock full of information on a new 2016 Lincoln MKX that we figure will most likely see an introduction at the Detroit Auto Show right around the corner. "Inspired by airplane design," says Lincoln, we see a good bit of the smaller MKC in the design of the next MKX, and that's a good thing. We note HID lights with LED accents, a Panoramic Vista Roof, a hands-free power liftgate and a 360-degree camera mounted behind the front Lincoln emblem as tasty exterior details to look forward to. Inside is what appears to be a pretty darn beautiful cabin, with available Bridge of Weir leather seats with optional heating and cooling, plus 22-way adjustability. Open-pore wood in either walnut swirl of olive ash looks classy, and the newly available Revel audio with 13 or optionally 19 speakers ought to work well with the car's active noise control to provide a serene driving experience. We're not entirely sure what infotainment system the 2016 Lincoln MKX will boast, but the images appear to show a version of the much-maligned MyLincoln Touch interface, and not the upcoming Sync 3, although at least there is more physical switchgear for the HVAC, as on the MKC. As far as the vehicle's engine and chassis, we see mention of an available twin-turbo 2.7-liter EcoBoost, but there's no power rating just yet – we know it will be more than 300 horsepower, but how much more is still unknown. There's no mention of the 2016 MKX's transmission, which makes us think it will probably offer the same six-speed unit as the Ford Edge. On the plus side, there will be adaptive steering to go along with three driving modes – Normal, Comfort and Sport. Lincoln Drive Control with continuously controlled damping also sounds beneficial. That's all we know so far, but we're looking forward to getting all the details, hopefully in just a few days, since the vehicle is said to be hitting showrooms in the summer of 2015. In the meantime, check out the image gallery above, and feel free to read a lengthy discussion about the leak at the FordInsideNews.com forum. Featured Gallery 2016 Lincoln MKX Leaked Images View 14 Photos News Source: Lincoln Canada via Ford Inside NewsTip: Michael Detroit Auto Show Lincoln Crossover Luxury 2015 Detroit Auto Show lincoln mkx

Ford's Galhotra succeeds Farley as head of Lincoln

Ford Motor Company is announcing a major personnel shakeup that could have a dramatic effect on the future of the Lincoln division. Kumar Galhotra (pictured above), currently vice president of engineering at Ford for all of its vehicles worldwide, is taking over as the president of the luxury brand on September 1, replacing Jim Farley. The automaker is also hiring a new head of advanced engineering.
Galhotra has a huge job ahead of him as the new boss of Lincoln worldwide, overseeing product development, marketing, sales and service. His task is to turn the luxury division into a world-class brand as quickly as possible, and he reports directly to Ford President and CEO Mark Fields.
"These changes underscore our commitment to build on the success of our One Ford plan by accelerating our pace of progress. They also make clear we are serious about Lincoln as a world-class luxury brand and that product excellence and innovation are what will deliver growth and define our entire company going forward," said Fields in the company's announcement.