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Trump tells Detroit 3 CEOs he wants more US jobs, calls environmentalists 'out of control'

As expected, President Donald J. Trump met with top executives from FCA, Ford, and General Motors this morning as part of a larger push to generate jobs in America. "I want new plants to be built here for cars sold here!", Trump said in a tweet ahead of the meeting. Not everything said in the meeting was made public, but the President later tweeted that he had a "Great meeting with automobile industry leaders." FCA CEO Sergio Marchionne, Ford chief Mark Fields, and GM's Mary Barra all echoed the positive vibes after the meeting. In a statement, Barra called the discussion "very constructive and wide-ranging," adding that it focused on "policies that support a strong and competitive economy and auto industry," and "that supports the environment and safety." That's noteworthy, because Trump is reported to have said "I am to a large extent an environmentalist. I believe in it, but it's out of control." Fields, speaking to reporters after the meeting, said, "We're excited about working together with the president and his administration on tax policies, on regulation and on trade to really create a renaissance in American manufacturing." The Ford CEO was specifically talking about Trump's withdraw from the Trans-Pacific Partnership. "We've repeatedly said that the mother of all trade barriers is currency manipulation, and TPP failed in meaningfully dealing with that, and we appreciate the president's courage to walk away from a bad trade deal," he said. Marchionne focused on American manufacturing in his statement after the meeting. "I appreciate the President's focus on making the US a great place to do business. We look forward to working with President Trump and members of Congress to strengthen American manufacturing." Perhaps equally as interesting as what was said and who was invited are what wasn't said and who wasn't invited. Trump has been very vocal about his distaste for US automakers' plants in Mexico, but no mention was made of the North American Free Trade Agreement by Trump or any of the Detroit CEOs after the meeting. We also have to wonder if Trump plans to meet with representatives from German, Japanese, and Korean automakers that have made massive investments into American plants and produce a large number of cars in this country. Related Video: News Source: Reuters, General Motors, Fiat Chrysler Automotive, Donald J.

Lincoln Nautilus, Ford Edge latest prediction: Production ends in July 2024

In June, Auto Forecast Solutions put out a report compiled by its vice president of global forecasting, Sam Fiorani. One item in the report covered how Fiorani had heard from "multiple sources" that Ford shut down the program to replace the Edge crossover in 2023. Assuming this came to pass, with the Lincoln Nautilus based on the Edge, the inference is that the Nautilus would retire at or around the same time. Ford's response to media queries about the report was either "No comment" or PR-speak deflection. Lincoln's statement on the matter to Motor1, a crafty non-answer, was, "The Nautilus plays and will continue to play an important role in Lincoln’s growing SUV portfolio which includes the Corsair, Aviator and Navigator. Lincoln is investing in growth segments like SUVs and we have no plans to exit the segment." It's possible Lincoln has no plans to leave the segment, but the Nautilus might, according to a fresh, unsourced report in Ford Authority. The site claims the Nautilus will end production at the Oakville Assembly Plant in Ontario, Canada, in July 2024.  Again, we can't know how much, if any of this, is true. But we're zeroing in on a timeline for the potential end of the Edge and Nautilus in the U.S. Those are the only two products Oakville currently builds, and when the Canadian union Unifor asked Ford about the reports in June, Ford couldn't offer union reps anything concrete or reassuring. The Detroit News quoted Unifor chief Jerry Dias as saying of the automaker, "There is no question, they are going through a major evaluation of their portfolio, based on a whole host of things."   We could be seeing one of the earlier theories for Edge's potential demise coming true. Some analysts suspect Ford could be pruning its crossover lineup because it has too many similarly-sized offerings at the moment, the Edge hasn't met its sales targets in Europe, and more compact crossovers are on the way that could bring better street cred if they're associated with the Bronco or Bronco Sport. Unifor and Ford are now in negotiations over a new contract, so it's possible we'll get more clarity in the next month or so about Ford's plans and what will come of Oakville and its roughly 4,000 workers. If Ford walks away from the assembly plant, it will only have two engine plants left in Canada, and no vehicle assembly north of the border for the first time in about a century.

Ford reports 58% drop in Q2 profits on European losses

Ford Motor Company announced Wednesday that it has posted a $1 billion profit for the second quarter of 2012. That sounds like good news for the Blue Oval, until you take into account that Ford posted a $2.4 billion profit for Q2 a year ago. That is a substantial 58 percent loss.
Ford also posted $465 million in international losses, with $404 million of those losses coming directly from Europe. The automaker also increased its European loss projections to $1 billion for 2012, due in large part to the economic crisis overseas, which has resulted in increased unemployment and decreased consumer confidence.