2002 Ford Escape on 2040-cars

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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

European jury picks finalists for 2015 Car of the Year

There are countless Car of the Year awards handed out each year, and naturally, Europe has its own way of doing things. Every year, a panel of jurists representing seven publications in seven different languages and seven different countries get together to name their joint Car of the Year. The panel released a list of 32 candidates back in July, and it has now whittled that list down to seven nominees. The list consists of the BMW 2 Series Active Tourer, the Citroen C4 Cactus (shown), the Ford Mondeo, the Mercedes-Benz C-Class, the Nissan Qashqai, the Renault Twingo and the Volkswagen Passat. Of those seven, only two are available in the US – those being the Mondeo (sold Stateside as the Fusion) and the C-Class. The Passat is an entirely different model in North America, the Qashqai isn't offered here, Citroen and Renault don't even participate in our market and the BMW 2 Series is represented here only by the completely different coupe and convertible. Expect the one and only recipient of the 2015 Car of the Year award to be announced at the Geneva Motor Show this coming March, and while you're waiting, you can place your guesses for the eventual winner in Comments. Featured Gallery 2015 European Car of the Year: Nominees News Source: CaroftheYear.org BMW Ford Mercedes-Benz Nissan Volkswagen Citroen Renault car of the year nissan qashqai citroen c4 cactus bmw 2 series active tourer

2016 Ford Shelby Mustang GT350R First Ride

Ford Performance Chief Engineer Jamal Hameedi was in China when he received an interesting text. Half a world away his team was shaking down the newest Shelby Mustang at Grattan Raceway in rural Michigan. The news was encouraging. The GT350R was keeping pace with a Porsche 911 GT3, even nosing ahead of it during time trials, while the GT350 was running about even with a 911 Carrera S and a Chevy Corvette Stingray. "That was a good text to get," he recounted a week later as we chatted alongside the track at Grattan. On this scorching summer day, there were no Porsches or Stingrays to be found, but we've come to preview the track-focused GT350R. Ford drivers are at the wheel, and we're riding shotgun. After several hot laps, we're left with a predictable observation: The GT350R is wicked fast and quick as hell. Much of this is thanks to the 5.2-liter flat-plane crank V8 that pumps out 526 horsepower and 429 pound-feet of torque. It's the most powerful naturally aspirated road-legal engine in Ford's 112-year history. To help the engineering process, Ford bought a Ferrari 458 Italia and ripped apart its V8. The GT350's engine ended up being 10 pounds lighter. For the coup d'grace, Ford's mill also revs to a Ferrari-like 8,250 rpm. As formidable as all of that looks on paper, it sounds even more imposing in real life (see the related video below). The engine in our GT350R crackles, growls, and opens up to a flat-out roar as we explode onto the track, gripping the door pulls to calm our nerves. Grattan is a challenging, twisty course. The corners are tight, and the elevation changes quickly. At one point, our test driver aggressively tackles a curve and we're briefly airborne. During the first stint, we reach about 140 miles per hour. But the GT350R isn't about straight-line speed or pure power. It's designed to get around a track as rapidly as possible. That means Ford took the 'base' GT350 – which should be more than at home on the track itself – and re-tuned the suspension and aerodynamics. There's a larger front splitter and rear carbon-fiber spoiler. The 19-inch carbon-fiber wheels are stiffer and lighter than comparable aluminum rollers, and they're wrapped in Michelin Pilot Sport Cup 2 high performance rubber. Additionally, Ford ripped out the back seats, air conditioning, trunk floorboard, stereo, backup camera, and anything else that wasn't necessary.