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Ford Edge, Lincoln Nautilus to die in 2023

Last summer saw two separate reports that Ford killed the next-gen Edge due in 2023, the move leading to the death of the Lincoln Nautilus in 2024 since the Lincoln is based on the Ford. As part of its future product roundup, Automotive News looked into the futures of a range of Ford Motor Company products, reporting that the Edge and Nautilus will both die in 2023. The Edge is said to be dead for good, thanks to Ford having four two-row crossovers in the lineup with the arrival of the hugely popular Bronco line, and a three-row Explorer that's only $175 more expensive at the moment. The Nautilus, however, could get a second act. When Ford came to an agreement with Canada's Unifor union about the Oakville Assembly Plant, which builds the Edge and Nautilus, the automaker pledged to turn Oakville into an EV production facility. Lincoln's big on battery-electric vehicles in the near-term, Unifor mentioning Oakville product plans that would have at least one EV coming off the line by 2025 and four more by 2028. Automotive News says Lincoln's got a small crossover and a midsize crossover due in 2025, and the small one could come from Canada and slot into the space left empty by the departed Nautilus, perhaps carrying on the name, perhaps not. One step up in size, the Ford Explorer and its Lincoln Aviator platform mate will soon welcome two battery-electric cousins into the family. These will both probably debut in 2022 and go on sale in 2023, the Ford produced in the Cuautitlan, Mexico, facility that now builds the Mustang Mach-E. As for which platform they'll ride on, it's not clear yet. Ford has four dedicated EV architectures planned for the company fold: GE2, the evolution of the Mach-E's GE1 platform; TE1 for trucks, coming in 2025; the Rivian platform that will contribute a dedicated Ford vehicle; and a version of Volkswagen's MEB platform for European offerings, with Ford planning to have an all-EV lineup across the Atlantic by 2030. The Explorer and Aviator EVs could get the GE2, or if Ford wants to showcase extra-rugged chops for both, the TE1. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Farley reacts as UAW expands strike against Ford, GM

Members of the United Auto Worker union walk out of the Chicago Ford Assembly Plant as Lance Williams from Lansing, Ill., waves the UAW flag Friday. (AP)   As the United Auto Workers walk off the job at an additional Ford and General Motors plant, Ford CEO Jim Farley addressed investors and members of the media Friday, pleading the case for the company's latest overture to the union and addressing both public and investor concerns regarding the core issues facing American manufacturing.  Farley made a public case for Ford's efforts to resolve the dispute, expressing frustration with the ongoing stalemate and noting both the concessions Ford offered before the strike began and the signing of a contract with Canada's Unifor. Farley also acknowledged UAW President Shawn Fain's success in getting the union's message out, quipping: "Shawn has been on TV more than Jake from State Farm at this point." The first-ever simultaneous strike against the Detroit Three automakers enters its third week with threats of continued expansion, but little in the way of obvious concrete progress.  "If the UAW’s goal is a record contract, they have already achieved this," Farley said. "It is grossly irresponsible to escalate these strikes and hurt thousands of families." Farley also lamented the fact that EVs have become the subject of partisan conflict, with the company's recently announced battery production facilities taking heat from both pundits and investors as Ford was forced to press pause on the venture while negotiations continue. Former President Donald Trump dropped in to Michigan this week to declare EVs the enemy of blue-collar jobs. "They've become a political football, and that's a shame," he said. Friday saw an expansion of the UAW strike to Ford's Chicago assembly plant and GM's Lansing, Delta Township, Michigan, assembly plant, covering about 7,000 workers, Fain said in an announcement, bringing the total number of workers on the picket lines to 25,000. The strike will not include any additional members at Stellantis, where talks have reportedly been more productive. The Ford and GM plants went on strike at noon Eastern today (Friday). Ford builds the Explorer and Lincoln Aviator in Chicago. GM's Delta Township plant builds Chevy Traverse and Buick Enclave. "Despite our willingness to bargain, Ford and GM have refused to make meaningful progress," Fain said in a video address Friday morning.

Ford 2Q profit drops 86% as it restructures overseas

DEARBORN, Mich. (AP) — Ford's net profit tumbled 86% in the second quarter due largely to restructuring costs in Europe and South America. Net income for the April-through-June period dropped to $148 million, or 4 cents per share. Without the charges the company made 28 cents per share. Revenue was flat at $38.9 billion. On average, analysts surveyed by FactSet expected earnings 31 cents per share on revenue of $38.49 billion. Chief Financial Officer Tim Stone says the company had charges of $1.2 billion as it moved to close factories in Europe and South America. He says Ford already is seeing an impact from its global fitness measures that included a reduction of 7,000 white-collar workers. Ford, which released numbers after the markets closed Wednesday, says its results include a $181 million valuation loss on an investment in a software company, trimming 4 cents off adjusted earnings per share. Its stock fell 6.3% in after-hours trading to $9.68. Stone said Ford is in the early stages of its restructuring, but already is seeing improvement in some regions. Free cash flow also improved by 80% to $2.1 billion in the first half of the year, he said. "We're already starting to see some early benefits," he said. "A lot of work to do." The company expects improvement in the second half of the year as more new big SUVs hit dealerships and more of the restructuring takes hold. Ford on Wednesday forecast pretax adjusted earnings of $7 billion to $7.5 billion for all of 2019, compared with $7 billion last year. The company previously had only said that pretax earnings would improve. Full-year adjusted earnings per share are forecast to be $1.20 to $1.35, up from $1.30 in 2018. Previously it did not give per-share guidance. Ford's U.S. sales fell nearly 5% in the second quarter, according to the Edmunds.com auto pricing site, as the company exited most of its passenger car business. But Stone said sales of the new Ford Ranger small pickup offset much of that as its share of the small truck segment rose 14%. Edmunds, which provides content for The Associated Press, said Ford's average vehicle sale price rose 2.8% to $41,328 during the quarter. In North America, Ford's biggest profit center, pretax earnings fell 3% to just under $1.7 billion, which the company blamed on switching its Chicago factory to build new versions of midsize SUVs.