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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

Junkyard Gem: 1977 Lincoln Continental Mark V

For the 1977 model year, Ford debuted the new Lincoln Continental Mark V, one of the biggest of the personal luxury coupes that were all the rage during the era. While 400 pounds lighter than its Mark IV predecessor, the Mark V was still a thirsty, 4,652-pound symbol of American exceptionalism. Here's an example of a first-year Mark V, spotted in a San Francisco Bay Area self-service wrecking yard. If we are to judge from the sun-baked interior, top-down rust, and moss growing on the bodywork, this car spent at least 20 years decaying outdoors before coming here. Still, flashes of its original opulence may be seen here and there. For example, the Cartier clock (which probably failed by about 1983). There were Cartier Edition Mark Vs (along with Givenchy and Pucci versions), but all the Mark Vs got the Cartier clocks. With the 1973 Oil Crisis just a few years behind and the 1979 Oil Crisis a couple of years ahead, some attempt to improve fuel economy was needed in the engine compartment. This car has the 400-cubic-inch version of the 351 Cleveland V8, rated at 179 woefully inadequate horsepower and 329 good-enough pound-feet of torque. Outside of California, the 208-horse 460-cubic-inch V8 was an option. These cars were very comfortable on the highway, with their soft springs and cushy seats. No, the wood isn't real. Worth restoring? No way, not when you can find nice one-owner examples for four figures. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. "To its owner, Continental Mark V is more than a new car. It's a Mark of tradition." Related Video: Featured Gallery Junked 1977 Lincoln Continental Mark V View 25 Photos Auto News Lincoln Luxury

2019 Lincoln Continental will cost as much as $5,000 more

Rumors have been swirling for months about the fate of the slow-selling Lincoln Continental amid Ford's larger plans to pare cars from its lineup in favor of trucks and SUVs. But now comes word of official order guides that show the 2019 Continental priced as much as $4,925 more than the previous year's model. That price bump brings more perks for buyers, however. According to CarsDirect, all models will get adaptive cruise control and the Lincoln Co-Pilot360 suite of safety technology, which includes automatic emergency braking, blind-spot information system and rearview camera. The base level Continental Premiere will start at $47,140, including destination fee, which is $985 more than the 2018 model. The Reserve model is where the starting price jumps $4,925 to $60,705. It adds technology like a 360-degree camera, heads-up display and park assist, plus heated rear seats and steering wheel and windshield wiper de-icer. The top-of-the-line Black Label edition starts at $71,040, an increase of $4,630, and adds 30-way adjustable seats. Those prices are considerably cheaper than comparably equipped competitors like the Audi A8 or BMW 7 Series, of course, but that value proposition hasn't so far managed to help the sedan's fortunes. Lincoln sold 12,012 models of the Continental in 2017, according to CarSalesBase.com. Sales through August were 5,677, which is more than 29 percent off the pace at this same point last year. Lincoln revived the storied Continental nameplate back in 2015 to much fanfare, but its market release in 2016 was a victim of bad timing, coming amid a rising tide of crossovers. Earlier this year Lincoln reportedly showed dealers photos of a Continental with rear-hinged suicide doors that it said it planned to manufacture, which may be an attempt to drum up interest. Jalopnik, citing unnamed sources familiar with Ford's product plans, says the Continental is likely to be killed off at the end of the run of the current model in 2020. That aligns with what a user on the Blue Oval Forums is saying, that shift changes at the Flat Rock Assembly plant near Detroit are coming and that workers have been told the Continental can be phased out of production by next summer. One supposed possibility is Ford moving production to China, though any plans to import sedans to the U.S. from there would seemingly be negated by the same Trump administration tariffs that killed plans to import the Ford Focus Active. Related Video: