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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

How long will the 'golden age' of performance last?

High-powered sports and luxury cars were everywhere at the New York Auto Show, prompting the obvious question for enthusiasts: How long will this golden age of performance last? Industry leaders have some time before regulations elevate the Corporate Average Fuel Economy level in 2025. Even then, they expect cars rippling with power to survive in some form. "Is it the end of an era," I don't think so," said Ola Kallenius, Daimler AG board member for Mercedes-Benz cars marketing and sales. "That performance element of individual mobility I don't think will ever go away." Kallenius, who oversaw the company's AMG division from 2010-2013, expects it to continue to grow. Last year, AMG sold a record 68,875 units around the world, an increase of 44.6 percent over 2014, with strong growth in the US, China, and Germany. Still, there's always the potential for gas to spike, and pending fuel economy regulations are looming. That could lead AMG to add electrification to its products, Kallenius said, pointing to the electric SLS as a test case. Chevy is also thinking ahead, said Al Oppenheiser, chief engineer of the Camaro. He wouldn't bite when asked about electrification for the Camaro (he did say "never say never"), but admitted in 2025 "it's going to be pretty tough to sell V8s." For now, things are rosy for muscle cars, and Chevy confidently showcased the 640-hp Camaro ZL1 in coupe and convertible form in New York. "I think that this is truly the golden age of performance," Oppenheiser said. It's hard to disagree. News & Analysis News: The 2017 Mazda MX-5 Miata RF was a show-stopper in New York. Analysis: There was a palpable energy when this RF — for Retractable Fastback — was revealed the night before the show at a trendy off-site venue near the Hudson River. Even as a parade of SUVs and flashy luxury cars rolled out the rest of the week, the Miata remained a hot topic. The Retractable Fastback is really a clever targa top, with part of the roof stowing behind the seats, adding about 100 pounds compared to the standard convertible. It makes the car more practical and arguably more attractive. The RF continues Mazda's tradition of selling the Miata with a hardtop variant. The first and second generations offered a detachable one, and a power retractable hardtop (a $1,700 option) was available on third-gen models. Judging by its reception in New York, the RF could prove to be even more popular than its predecessors.

2017 Lincoln Continental brings 'quiet luxury' to Detroit

Following the concept that debuted in New York the better part of a year ago, the production Lincoln Continental promises to usher in a new era for the Lincoln division and put up a better fight against Cadillac. (Or so, at least its parent company Ford would hope.) To that end, Dearborn's luxury brand promises "an elegant, effortlessly powerful, serene fullsize sedan that delivers quiet luxury to the industry's most discerning customers." That effortless power comes from a twin-turbocharged, 3.0-liter V6 that will produce up to 400 horsepower. Other features include exterior ambient lighting that activates when the driver approaches, hidden electric door handles, and an available panoramic glass panel covering the entire roof. The new Conti also boasts a three-mode suspension and steering system, torque vectoring, adaptive cruise control, a 360-degree camera system, and collision assist with pedestrian detection. Meanwhile the interior offers such amenities as 30-way adjustable front seats, reclining, massaging and climate-controlled rear seats, a Revel audio system, and active noise cancellation. All the features, in short, you'd expect from a luxury sedan, and then some. Only this one will be made in Flat Rock, not imported from overseas. Following its debut at the Detroit Auto Show this week, it will reach dealers in the fall – at which point import and Caddy dealers alike may need to start taking notice. All-New Lincoln Continental Delivers Quiet Luxury: Elegant, Effortlessly Powerful, Serene - Lincoln Motor Company introduces its elegant new flagship – the all-new Continental – coming this fall - Effortless power comes from new 3.0-liter twin-turbocharged V6 engine that produces a projected 400 horsepower and 400 lb.-ft. of torque1; advanced safety technology is also featured - Serene interior offers the comfort of Lincoln's innovative Perfect Position Seat, spaciousness, rear seat amenities, Revel® audio system and top-grade materials DETROIT, Jan. 12, 2016 – Lincoln Motor Company heralds the return of its flagship – the all-new Lincoln Continental – an elegant, effortlessly powerful, serene full-size sedan that delivers quiet luxury to the industry's most discerning customers. Beginning this fall, Continental offers first-class travel for clients in America and China, bringing warm, human touches and a contemporary design.