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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

2024 Lincoln Nautilus debuts with big redesign, new hybrid option

The 2024 Lincoln Nautilus is bigger, flashier and packs a new hybrid powertrain option. Take a look inside this two-row midsize SUV, and you’ll notice itÂ’s rocking a totally new tech interface not seen on any other Lincoln product, too. Starting with the new exterior, the Nautilus makes its entrance with a large grille — depending on the trim you select, four distinct patterns are available. No matter the trim, a new daytime running light runs horizontally through the grille and connects with the headlights. Lincoln played it safe with the sculpting along the sides, but the door handles are newly integrated and sit at the same level as the door trim itself. Electric buttons on the inside of the pulls activate them. The rear mimics the front with a full-width taillight. Hidden exhaust outlets give the rear end a clean and uninterrupted look. Both models seen in photos are rocking 22-inch wheels, but 20-inch and 21-inch wheels will also be available. A new powertrain lineup sees a change in direction toward the greener side of things. The NautilusÂ’ base engine is still a 2.0-liter turbocharged four-cylinder, but Lincoln says itÂ’s a new design, the same that youÂ’d find on the updated Lincoln Corsair. It makes 250 horsepower and 275 pound-feet of torque, and itÂ’s mated up with an eight-speed automatic transmission. All-wheel drive is standard across the lineup, even for the base model. As for the upgrade engine, Lincoln dropped the twin-turbo V6 in favor of a hybrid option. The hybrid pairs a 2.0-liter turbocharged four-cylinder with an electric motor and CVT. Lincoln says the total system output is 310 horsepower, and while thatÂ’s less than the 335 horses from the outgoing V6, weÂ’re not exactly heartbroken over a slight dip in power for this SUV that has almost no sporting pretenses. Lincoln tells us the hybrid system is similar to that in the Ford Maverick and Ford Escape, but features a more powerful electric motor (134 horsepower) and enhanced transmission. The utility of the Nautilus is way up versus before. Lincoln says the new Nautilus is riding on a vehicle platform not currently shared with any other Ford or Lincoln model sold here, and the idea was to end up with a much larger vehicle. With another two inches of length and two inches of width added over the outgoing model, Lincoln expanded backseat space and cargo space substantially.  Lincoln made the interior a lot more tech-forward, too.

More than 800,000 Fords recalled for faulty Takata airbags

The Basics: Ford is recalling about 816,000 Ford, Lincoln, and Mercury vehicles built in the US for faulty passenger-side Takata airbags. The affected vehicles were all built in North America, with 654,695 recalled vehicles in the US and 161,174 vehicles in Canada. A wide variety of cars, trucks, and SUVs are affected. This is a planned expansion of an earlier recall. 2005-09 and 2012 Ford Mustang 2005-06 Ford GT 2006-09 and 2012 Ford Fusion 2007-09 Ford Ranger 2007-09 Ford Edge 2006-09 and 2012 Lincoln Zephyr and Lincoln MKZ 2007-09 Lincoln MKX 2006-09 Mercury Milan The Problem: Like every other Takata recall, the problem rests with faulty airbags that can potentially expel shrapnel, injuring or killing vehicle occupants. Millions of vehicles from dozens of automakers are affected, so don't think that Ford is alone on this one. Injuries/Deaths: Ford stated in a press release that there have been no injuries or death linked to the vehicles in this recall. All in all, 11 deaths and 180 injuries across a variety of automakers have been linked to these Takata airbags. The fix: Ford will contact owners soon, and the affected vehicles will have their airbags replaced by a dealer at no additional charge. If you own one: Wait for contact from Ford, then head to the dealer to get a replacement. If you're wondering if your vehicle is affected, go to this Ford website and enter their Vehicle Identification Number (VIN). The recall reference number is 17S01. Related Video: News Source: FordImage Credit: Associated Press Recalls Ford Lincoln Mercury Auto Repair Ownership Safety Truck Coupe Crossover SUV Sedan airbag Takata airbag recall