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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:

Mustang-themed pinball game debuting in Chicago [w/video]

Believe it or not, but new pinball machines are still being made. Chicago-based Stern Pinball still makes them and has found a niche selling modern machines to individual buyers and arcade distributors. For its latest cabinet, Stern partnered with Ford to create a pinball game that pays homage to the 50th anniversary of the Mustang, including the next generation. The new machine is being unveiled at the Chicago Auto Show on February 6 and goes on sale in March.
Stern is offering the machine in three variants. The pro-level machine is meant for arcades and public spaces and retails for $4,995. All of them come with background and cabinet art by Camilo Pardo, who designed the Ford GT, and Top Gear USA host Tanner Foust is the game's announcer. Depending on where players shoot the ball, they activate events that simulate drag racing, rallying, drifting and racing the Mustang, and hitting targets lets players shift the gears up and down.
An upgraded, premium table with added art will be added later for pinball machine collectors. The third model is a signed, special edition with art of the 1965 Mustang and 2015 Mustang on the machine and chrome and Mustang badges on the speaker grilles. Prices for these editions will be announced later.

Project Ugly Horse: Part VI

Solid axle? What solid axle?
I was fully prepared to embark on a seven-day journey down a rabbit hole of broken bolts, internet hearsay and consternation.
This should not have gone this easily. Having a long and checkered history of simple projects punctuated by much wailing and gnashing of knuckles, I was fully prepared to embark on a seven-day journey down a rabbit hole of broken bolts, internet hearsay and consternation when I finally decided to lay hands on the '89 Mustang with the goal of relieving the car of its stock rear axle. Instead, it took less than a full morning's worth of work to carve the old 7.5-inch solid axle from its moorings and mock up something, well, different.