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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:

Mulally to stay at Ford through end of 2014 at least

Alan Mulally isn't going anywhere... at least not just yet. The CEO who helped turn around Ford Motor Company has been linked to the top job at tech behemoth Microsoft, leading to a flurry of rumors about potential successors. Those rumors, though, may have just been put to rest - at least for a little while.
Speaking to Edsel Ford II (great-grandson of company founder Henry Ford) at the unveiling of the new Mustang, Automotive News Europe confirmed that Mulally would stick around until the end of next year. "Alan is staying through the end of 2014 and that's all I know," said Ford. "Frankly, he has told us that his plan is to stay with Ford through the end of 2014."
Presuming that Edsel Ford is correct and that Microsoft isn't so hot on Mulally that it saves the position for him, it seems increasingly likely that the 68-year-old exec is more interested in continuing to work in Dearborn rather than in Redmond.

The Stig drives Forza-liveried Ford Focus RS to Gamescom

Auto shows typically present the best opportunities for the public to check out the latest metal the industry has to showcase, but European enthusiasts won't need to wait until Frankfurt or Geneva to see Ford's new performance machinery up close. That's because they'll be able to check out the new Ford GT and Focus RS at the Gamesom expo that opens today in Cologne. But it won't be just any Focus RS, and it won't be driven there by just any old driver. To mark the European debut of Forza Motorsport 6 – whose cover is adorned by the new Ford GT – the Blue Oval automaker has had gamers help design a special livery for the new hot hatch. Wrapped in red, white, and blue with images of the new GT, the unique Focus will be driven by none other than The Stig himself from Top Gear. (Or at least someone in a similar white racing outfit, at any rate.) His Royal Stigness won't have far to go, as Ford's European headquarters are located right there in Cologne (or Koln as the locals call it), less than a half-hour drive down the Rhein river to the Koln Messe where the show will take place. There it'll be showcased alongside the new Ford GT as well, giving gaming fans the chance to check out some very fast Fords up close and personal. Related Video: Aug 4, 2015 | COLOGNE, Germany Ford GT and Gamer-Customised Forza Focus RS to Star During Gamescom; Top Gear's The Stig Helps Unveil One-Off Design - Customised new Focus RS with unique livery designed by players of Forza Motorsport for Xbox unveiled ahead of 2015 Gamescom exhibition in Cologne, Germany - The Stig from BBC's Top Gear drives Forza Focus RS to pre-show event - Visitors to Gamescom – Europe's largest interactive games trade fair – will also see all-new Ford GT supercar on show COLOGNE, Germany, Aug. 4, 2015 – A unique all-new Ford Focus RS featuring an exterior designed by players of Forza Motorsport for Xbox was unveiled today at a special Microsoft event, ahead of the international 2015 Gamescom event in Cologne. The special Forza Focus RS was driven to the event – and accompanied during the evening – by the Stig from BBC's Top Gear, who will feature in the new Forza Motorsport 6 game for the Microsoft Xbox One console. The all-new Focus RS is the third generation of Focus RS cars, following models launched in 2002 and 2009.