2014 Lincoln Navigator Base on 2040-cars

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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.

Lincoln Anniversary Concept is the future looking at the past

Remember the Audi SkySphere concept the German automaker revealed on August 10? The long, low, meaty two-door designed in Malibu, California that previewed elements of Audi's coming design language? This is not that car. This is the Lincoln Anniversary concept, a long, low, meaty two-door designed at the ArtCenter College of Design — about an hour away from Malibu — as a potential preview of Lincoln design elements. There's clearly something in the waters of the communal car design trend pool, and we dig it. A few months ago, Lincoln announced it had partnered with the ArtCenter, inviting students to create four concepts that they'd showcase as integral parts of meaningful stories about people. The transportation students worked with classmates in other disciplines like film and animation to imagine what Lincolns might be like in 2040 and beyond, and create short films to put the concepts and stories in motion inside future worlds. One concept needed to hold two people, one to hold four, another would hold four at elevated ride height, and the largest would be a six-passenger vehicle. All of them had to deliver on Lincoln's promise of Quiet Flight driving and a theme called C.A.S.E., for connected, autonomous, shared and electric.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Lincoln x ArtCenter College of Design | Quiet Flight 2040 The Glider concept served two people in sedan form, inspired by the Zephyrs and Continentals of yore. As the star of the short "Now You Drive," a son picks up his wheelchair-bound father in the Glider and puts his father in the driver's seat, placing the wheelchair in the back. The father takes the wheel and drives for the first time in years, while the autonomously-capable sedan retracts the throttle and brake pedals and manages speed on its own. Designer Jin Kim posted detailed breakdown of his development work on the Glider, as well as the short film. The page is well worth a visit.       A four-seater SUV concept in the short "Amongst the Stars" features touch-screen windows and an augmented reality panoramic roof. The protagonist gets her first taste of a wide starry night during a family trip to White Sands National Park looking through the glass, the roof aiding her curiosity with displays like highlighting and naming constellations.

Driving the Lincoln Aviator and flogging Abarths at Laguna Seca | Autoblog Podcast #593

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by West Coast Editor James Riswick and Associate Editor Joel Stocksdale. To begin, Greg takes a moment to remember the fastest woman on four wheels and former host of Autoblog's "The List," Jessi Combs, who died this week. Then our editors turn their attention to the cars they've been driving, including the Lincoln Aviator, Ford Ranger and Nissan Frontier, as well as Joel's recent stint in the Fiat 500 Abarth and Fiat 124 Spider Abarth, including track time at Laguna Seca. Finally, they turn their attention to a listener in Germany who is looking to replace an aging Volkswagen Eos with a newer convertible in this week's "Spend My Money" segment. Autoblog Podcast #593 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Remembering Jessi Combs 2020 Lincoln Aviator and Aviator Grand Touring 2019 Ford Ranger 2019 Nissan Frontier 2019 Fiat 500 Abarth and 124 Spider Abarth at Laguna Seca Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.