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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:

2015 Ford F-150 gets Power Wheels treatment [w/video]

With the introduction of its forthcoming 2015 F-150, Ford is breaking with convention by shifting from steel-intensive construction to aluminum. But what if it weren't made of metal altogether? What if it were made of plastic instead, and packed an electric motor instead of an internal-combustion engine?
Feast your eyes, boys and girls, on the new Power Wheels F-150. Built by Fisher-Price and licensed by Ford, the third-generation ride-on toy started development nine months before the full-size version debuted at the Detroit Auto Show this past January, and is hitting sidewalks and driveways across the country this September.
The Power Wheels F-150 carries a sticker price of $349.99, and there's a special version at Toys R Us with LED headlamps (just like the real F-150) for an extra $10.

James May picks 13 most significant cars ever for London Classic Car Show

James May tends to be the most pragmatic of the Top Gear UK hosting crew. Jeremy Clarkson obviously likes his vehicles loud, brash and preferably British, and Richard Hammond seems to have a thing for American muscle. May appears to find joy just in the mechanical nature of things, whether high performance or simply made for getting around. He's getting a chance to put that appreciation on display by curating a 13-car collection at the London Classic Car Show called The Cars That Changed The World. May actually wants to provoke debate from visitors about the exhibit and is separating his choices into two categories: The Halls of Obviousness and The Chambers of Bloody-mindedness. The first bunch includes the usual important vehicles you expect to see, but the other group has the really interesting picks. As May explains these selections in the event announcement, "I believe they are just as significant historically but they've simply been forgotten or misunderstood." The obvious choices are: 1886 Benz Motorwagen 1908 Ford Model T 1938 Volkswagen Beetle 1959 Austin Mini 1964 Ford Mustang 1997 Toyota Prius And the more eccentric ones are: 1901 Waverley Electric 1906 Cadillac Model K 1933 Standard Superior 1972 Honda Civic 1980 Lada Riva 2009 Bruno ExoMars Rover If you notice, there are only 12 vehicles listed above. That's because the final one is being kept secret for show attendees, but May considers it the most significant car ever made. The London Classic Car Show runs at the ExCeL in London's Docklands from January 8-11, 2015. In addition to May's exhibit and the other vehicles there, Formula 1 designer Adrian Newey is also curating a display from his own collection. May is hoping to spur conversations with his choices. Let us know in Comments if you notice any glaring omissions that should be among the 13. Read the full announcement below, along with a brief explanation for each choice from May. GET READY FOR A CLASSIC ARGUMENT 30/12/14 James May has chosen the 13 most significant cars of all time for The London Classic Car Show... but is he right? It's bold, controversial and bound to cause arguments... and that's just the way BBC Top Gear's James May wants it. May has stuck his neck on the line and has chosen what he regards are the 13 most influential cars of all time. The result is The Cars That Changed The World and it's one of the star exhibits at the London Classic Car Show taking place at ExCeL in London's Docklands from 8-11 January 2015.