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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

8 new cars that are selling below MSRP

Car shopping has been a frustrating activity for many people in recent years, as strained new car inventories have led to markups and elevated prices across the board. It’s been difficult to find vehicles at anywhere near a reasonable price, and some in-demand models are still listed at a premium today. iSeeCarsÂ’ most recent study looked at several aspects of the new and used vehicle markets and found a handful of models that are selling at a discount – a rarity in todayÂ’s world. Most of the vehicles selling below MSRP in October were electric, though the Nissan Armada and Infiniti QX80 made the top eight. To be clear, weÂ’re not talking about huge discounts here – the Kia EV6 was selling with the largest discount of 3.1%. The other models on the list include: Kia EV6: -3.1 percent off MSRP Ford F-150 hybrid: -2.8% Hyundai Ioniq 6: -2.7% Nissan Armada: -1.8% Hyundai Ioniq 5: -0.9% VW ID.4: -0.6% Kia Niro EV: -0.3% Infiniti QX80: -0.2% Electric and hybrid vehicles like the Kia and Ford have been selling at a premium for a long time, as they experienced stronger than expected demand and had challenging early production runs. That theyÂ’re now selling at a discount could indicate wavering buyer demand, but itÂ’s too early to start sounding any serious alarm bells. Though some models are getting cheaper, the industry average is still heading in the wrong direction. The average MSRP of new cars sold last month was $42,510, while the average sales price was $46,077. That 8.4% overage is surprising to see so many months after the worst of the pandemic has passed. iSeeCarsÂ’ executive analyst Karl Brauer had a few words of encouragement, however, saying, “There are still very few ‘dealsÂ’ in the new car market. Shoppers looking to pay below MSRP for a new car will have to do their research, but a small number of models can be bought below sticker price.” Green Ford Hyundai Infiniti Kia Nissan Volkswagen Car Buying cheap cars

2020 Kia Telluride comparison: Specs and pricing versus other 3-row crossovers

The 2020 Kia Telluride is a three-row family crossover that slots into the top spot in Kia's SUV lineup. It does not replace the three-row Sorento — rather, this bigger, more luxurious model is intended for those who need even more space. And that they'll certainly get, because as you'll see below, the Telluride is one of the biggest crossovers on the market. In this comparison of engine specs, dimensions, pricing and photos, we'll take a look at the 2020 Telluride versus the Honda Pilot, Subaru Ascent, Toyota Highlander, the all-new 2020 Ford Explorer, and the Telluride's mechanically related cousin, the equally new 2020 Hyundai Palisade. Of course, those just represent one corner of an iceberg that also includes the Mazda CX-9, Chevrolet Traverse, GMC Acadia and Dodge Durango. Passenger space Like most other entries in the three-row segment, the Telluride offers seven- or eight-passenger capacity. The difference is determined by whether you get second-row captain's chairs. Judging by the Telluride's 55.3 inches of third-row shoulder room, it looks like it won't be quite as spacious with three kids across back there as it would be in the Pilot or Ascent. Two inches can make a big difference in this regard. Third-row legroom is very competitive, however, and if it's indeed just as spacious back there as the Pilot and Ascent, two full-sized adults should be able to fit quite comfortably. Its third-row headroom is also quite good, one of the areas in which the Telluride surpasses its otherwise comparably sized Palisade cousin. If you're wondering about second-row space, there's really nothing outstanding to glean from these specs. As expected for this segment, it's huge, with abundant leg- and headroom. There should be no problem fitting child seats. Cargo space The Telluride would seem to have class-leading space behind its raised third-row seat. If we were to guess, this is the result of its rather boxy tailgate and roofline design. This should also help explain why it has more maximum space than all but the Explorer. Space with the third row lowered is middle of the pack, but when you're talking about vehicles this size, the differences in cubic feet behind the second-row ultimately don't matter much. 2020 Kia Telluride View 46 Photos Performance and Fuel Economy The Kia Telluride has the same powertrain as the Hyundai Palisade, although their tuning and consequent driving experience may differ even if their specs are seemingly the same.