2004 Lincoln Town Car Signature on 2040-cars

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Ford 2Q profit drops 86% as it restructures overseas

DEARBORN, Mich. (AP) — Ford's net profit tumbled 86% in the second quarter due largely to restructuring costs in Europe and South America. Net income for the April-through-June period dropped to $148 million, or 4 cents per share. Without the charges the company made 28 cents per share. Revenue was flat at $38.9 billion. On average, analysts surveyed by FactSet expected earnings 31 cents per share on revenue of $38.49 billion. Chief Financial Officer Tim Stone says the company had charges of $1.2 billion as it moved to close factories in Europe and South America. He says Ford already is seeing an impact from its global fitness measures that included a reduction of 7,000 white-collar workers. Ford, which released numbers after the markets closed Wednesday, says its results include a $181 million valuation loss on an investment in a software company, trimming 4 cents off adjusted earnings per share. Its stock fell 6.3% in after-hours trading to $9.68. Stone said Ford is in the early stages of its restructuring, but already is seeing improvement in some regions. Free cash flow also improved by 80% to $2.1 billion in the first half of the year, he said. "We're already starting to see some early benefits," he said. "A lot of work to do." The company expects improvement in the second half of the year as more new big SUVs hit dealerships and more of the restructuring takes hold. Ford on Wednesday forecast pretax adjusted earnings of $7 billion to $7.5 billion for all of 2019, compared with $7 billion last year. The company previously had only said that pretax earnings would improve. Full-year adjusted earnings per share are forecast to be $1.20 to $1.35, up from $1.30 in 2018. Previously it did not give per-share guidance. Ford's U.S. sales fell nearly 5% in the second quarter, according to the Edmunds.com auto pricing site, as the company exited most of its passenger car business. But Stone said sales of the new Ford Ranger small pickup offset much of that as its share of the small truck segment rose 14%. Edmunds, which provides content for The Associated Press, said Ford's average vehicle sale price rose 2.8% to $41,328 during the quarter. In North America, Ford's biggest profit center, pretax earnings fell 3% to just under $1.7 billion, which the company blamed on switching its Chicago factory to build new versions of midsize SUVs.

Sunday Drive: Trucks and SUVs of all shapes and sizes

The American automotive marketplace is dominated by trucks and SUVs, and so was the last week of coverage on Autoblog. By far, the most popular story of the week was our First Drive of the 2018 Lincoln Navigator. It may look like an old-school lumberer, but in reality Lincoln's flagship is a thoroughly modern, turbocharged-V6-powered, three-row, luxury people mover. The Jeep Wrangler is the world's most recognizable vehicle. So it's no surprise that the next version looks a whole heck of a lot like the last one, and the one before. It's all in the details, which is why we were so excited when Jeep decided to unleash a trio of images showing both two- and four-door Wranglers for us to dissect ahead of the SUV's official debut at the L.A. Auto Show later this year. Past that, spy photos of the next Chevy Silverado and Ram 1500 were predictably popular. See both of those below, and the cap it all off, check out the entire week's worth of SEMA coverage – including the bonkers Hennessey VelociRaptor 6x6 – in our mega image gallery at the bottom of this post. Enjoy! As always, tune in to Autoblog next week for a front-row seat to all the happenings worth following in the automotive industry. 2018 Lincoln Navigator First Drive | From black sheep to flagship 2018 Jeep Wrangler revealed: First photos released before L.A. Auto Show debut 2019 Chevy Silverado looks slim and clean beneath the camo 2019 Ram 1500 gets vertical touchscreen infotainment system 2017 SEMA Show Mega Photo Gallery Chevrolet Jeep Lincoln RAM Truck SUV recap sunday drive

2020 Lincoln Corsair Review & Buying Guide | Old-school, value-priced luxury

The 2020 Lincoln Corsair is a compelling alternative to the compact luxury crossover establishment. It’s distinctively stylish inside and out, very spacious, and it clearly focuses on comfort rather than performance. Not only that, it has a base price that's thousands of dollars cheaper than its German rivals. It has a couple of drawbacks. Its quest for comfort does sacrifice some of its handling capability, and its overseas rivals still have nicer cabin materials. But there are enough positives that youÂ’ll still want to give the Corsair a closer look. What's new for 2020? The Lincoln Corsair is a completely new model introduced this year. It replaces the Lincoln MKC, and like that crossover, the Corsair still shares its platform with the Ford Escape. 2020 Lincoln Corsair Beyond Blue interior View 9 Photos What's the Corsair's interior and in-car technology like? While the Corsair is based on the Ford Escape, you wouldnÂ’t be able to tell from the inside, and thatÂ’s a very good thing. The little Lincoln crossover has a unique interior, both in relation to the Escape and to the rest of its luxury segment. There's nothing remotely like it. The dashboard itself is low and wide, emphasized by the split-level design and the faux full-width air vent. The center stack has a cantilevered design that floats above the center console area and features chrome-plated switches and knobs. Base models get a stylish pinstriped aluminum trim panel on the dash paired with one of three upholstery color options including black, gray and beige. However, the Reserve steps things up considerably with differing wood and metal trim choices that correspond to the expanded leather color options that include a camel tan and dark turquoise (pictured above). All Corsairs get an 8-inch touchscreen infotainment system mounted high on the dash within easy sight and reach. It uses a reskinned version of the latest Ford SYNC interface. The layout is straightforward and easy to navigate, and the more muted color options on the Lincoln system are easier on the eyes than the stark white Ford version. ItÂ’s a little bit slow to load new menus, though, and this carries over to the optional 12.3-inch instrument cluster screen available on the Reserve trim. The Corsair comes standard with an analog instrument cluster with a 6.5-inch info screen. We appreciate that many stereo and climate controls have dedicated switches and knobs on the center stack, and they have a nice heft to their actions.