Auto blog

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

2015 Lincoln MKC aims to rejuvenate the brand... again

Ford is slowly but surely attempting to revitalize the Lincoln brand, with the new MKZ sedan pointing the way forward for the Blue Oval's struggling luxury division. Here at the LA Auto Show, Lincoln is showing the next new product that aims to give the brand new life, the 2015 MKC crossover.
The MKC is based on the trusty Ford Escape, but this is far more than just a rebadge job. Lincoln has used completely new sheetmetal here, with the brand's familiar split-wing grille front and center, and a classy, wraparound tailgate with super slim taillamps that span the width of the hatchback. It's one of the better applications of Lincoln's new design language we've seen thus far, and the end result is a taut-looking crossover that is at the same time both modern and luxurious-looking.
Further differentiating itself from the Escape, the MKC packs an all-new 2.3-liter EcoBoost four-cylinder engine, good for 275 horsepower and 300 pound-feet of torque. (On the base end, Ford's 2.0-liter EcoBoost four-cylinder with 240 hp and 270 lb-ft is available.) The MKC also uses a new Continuously Controlled Damping adaptive suspension, and is available with both front- and all-wheel drive.

Lincoln dealers frustrated over slow MKZ production ramp-up

Lincoln has clearly been working hard to get the word out about its 2013 MKZ sedan. The Dearborn automaker has taken out lavish spreads to trumpet its boldly styled new model in magazines of every description, along with placing commercials for both the vehicle and the reborn brand behind it on all manner of television programs, including the super-costly Super Bowl earlier this month.
Pity, then, that Lincoln dealers don't have enough MKZs to sell. According to The Detroit News, parent company Ford has spent a good portion of its time at this week's National Automobile Dealers Association meeting in Florida attempting to pacify upset dealers who don't have enough examples of the pivotal new vehicle in stock.
As the DetNews notes, Lincoln only sold 453 MKZs last month, a whopping 73-percent decrease over the same period last year when the sedan's predecessor was on sale. In fact, the stunted supply had enough impact that Lincoln's January figures worked out to a 32-year low for the brand, just as it's trying to get back on its feet. This, despite the fact that the MKZ is said to have the biggest number of pre-orders in the marque's history.