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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

Monochromatic Package spreads to Lincoln's Corsair, Nautilus, and Aviator

Lincoln is catering to buyers seeking a mostly chrome-free SUV by making the optional Monochromatic Package available on the Corsair, the Nautilus, and the Aviator. It was inaugurated by the Navigator in 2019. Inspired by current trends in fashion and interior design, the Monochromatic Package bundles a darker grille, tinted emblems, body-colored mirrors, and darkened trim pieces all around. It also includes black 20- or 22-inch alloy wheels, depending on the model. Lincoln made no mention of modifications in the cabin. 2021 Corsair and 2021 Aviator buyers who tick the Monochromatic Package box will be asked to choose from three colors named Pristine White, Infinite Black, and Asher Gray, respectively. The Monochromatic-equipped 2020 Nautilus will exclusively be offered in Infinite Black, while the 2020 Navigator carries on with Pristine White, Ceramic Pearl, and Infinite Black as its color options when buyers add the package. Lincoln hopes expanding the Monochromatic Package's availability will allow its SUVs to keep building momentum, but pricing information hasn't been announced yet. For context, the chrome-free look costs $3,495 on the 2020 Navigator, and it's exclusively offered on the mid-range Reserve model priced at $83,665. Like parent company Ford, Lincoln is increasingly reliant on its crossovers and SUVs. It confirmed its last two sedans, the MKZ and the Continental, will retire without a replacement in sight after the 2020 model year.

Ford Expedition, Lincoln Navigator recalled for fire risk

Owners of some 2021 Ford Expedition and Lincoln Navigator SUVs are being urged to park their vehicles outdoors and away from structures until they can be taken to dealers for repairs. Ford issued a recall covering 39,000 vehicles due to engine fires under their hoods, and it's not certain at this point what's causing the flames to start. According to documents posted on the National Highway Safety Administration's website, "The remedy is still under development." Ford says it has reports of 16 under-hood fires, with 14 of those happening in vehicles owned by car rental companies. The fires can happen even while the engine isn't running. According to Ford, "Some customers have reported a burning smell and smoke from the front passenger engine compartment while driving." The fires seem to be starting "in the rear of the engine compartment near the passenger side of the vehicle." Despite the under-hood fire risk, Ford is not at this time recommending that owners stop driving the vehicles. "We are working around the clock to determine the root cause of this issue and subsequent remedy so that customers can continue to enjoy using their vehicles," Jeffrey Marentic, general manager of Ford passenger vehicles, said in a statement. Ford says the fires appear to be limited to SUVs built from Dec. 1, 2020 to April 30, 2021 and says it has no fire reports from vehicles built before or after those dates. In a separate recall, Ford is also calling in about 310,000 heavy-duty trucks because the driver's air bag may not inflate in a crash. That recall covers certain 2016 F-250, F-350, F-450 and F-550 trucks. According to documents posted by NHTSA, dust can get into the airbag wiring in the steering wheel, which can cut electricity to necessary components. To fix the problem, dealers will replace the steering wheel's wiring. And in a third recall, Ford announced it is bringing in 464 Mustang Mach-E electric SUVs from 2021. A software problem in the electric vehicle can cause unintended acceleration, deceleration or a loss of drive power in all-wheel-drive vehicles. NHTSA documents say that the powertrain control computer may not detect a software error. The problem will be fixed by dealers or by an online software update.