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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

We test Lincoln's 20-speaker Revel Ultima stereo with a rock star

If there's two things Detroiters know, it's music and cars. So when Lincoln approached us with big claims about their latest stereo system, the Revel Ultima System, we sought out a veteran of the Motor City music scene to test it out. First unveiled at the 2015 Detroit International Auto Show in the Lincoln MKX, Revel is bringing its bumping bass to the 2017 Lincoln MKZ. We had Dick Valentine, lead singer of Electric Six and favorite son of Detroit, try out the 20-speaker, 1200-watt system. If you want it on your MKZ, Revel Ultima is part of the $4,400 Luxury Package. Electric Six is perhaps most famous for its early hit, Gay Bar, and the music video filled with shirtless Abe Lincolns in the White House. Since their debut release, Fire, E6 has backed up a regular touring schedule with ten more studio albums, both a live album and live DVD, and an upcoming quasi-reality film titled Roulette Stars of Metro Detroit. We met up with Valentine on the set of the Roulette Stars to explore the depths of his sardonic wit that oozes through every E6 song. Lincoln says that Revel is the best in the biz. And we'll admit, the stats are impressive. But are 20 speakers and marketing terms like Quantum Logic Surround Technology, Clari-Fi Technology and Point Source Architecture enough to impress a Detroit legend? Valentine knows a little something about sound. As the lead singer and frontman of the Electric Six, he's spent over twenty years hearing his tunes played through speakers. While Valentine hasn't owned a car in a while, he does have opinions on jamming inside of them. We played songs from the band's latest album Bitch, Don't Let Me Die to see if Revel truly delivers on it's bold claims. Related Video: Celebrities Lincoln Ownership music audio sound system

2019 Lincoln Navigator gets slight price hikes, crosses six-figure mark

As of the end of June this year, all-new Lincoln Navigator sales are up by triple digits over last year. No wonder, as Lincoln's flagship has impressed us on both our initial drive and again recently on a 900-mile road trip. Even if numbers slump some between now and the end of the year, the full-sized luxury SUV should achieve sales not seen since 2007, when it sold 24,050 units. That would help explain why the Navigator's already had one price increase this year, in June, when MSRPs across the range went up $500 and the destination charge rose another $100. According to order guides, prices for the 2019 model year will go up even more. The entry-level Premiere trim gets bumped by another $650, while the Reserve trim climbs by $3,500. After the $1,295 destination fee, the 2019 Navigator Premiere starts $74,500, and the Select trim rises by $1,000 to $78,850. Neither of those trims add additional equipment to offset the additional cost. The Reserve price hike to $86,500 does capture the cost of the Technology Package, which will come standard. On the 2018 Navigator, that package, which bundles aids like adaptive cruise control and autonomous emergency braking, is a $2,640 option, so the net price jump for the trim is $860. The Black Label price drifts upward by $2,190 to $97,690, but the 2019 models will throw in 30-way power seats as standard. Those thrones being a $1,250 option on 2018 models, the net increase is then $940. The long-wheelbase L models will all go up by the same amount as their non-L counterparts, which puts the Navigator over the $100K mark for the first time; the 2019 Black Label L will need $100,890 to put in a suitable driveway. That's just $700 less than the list price of the 2019 Cadillac Escalade ESV Premium, but Cadillac incentives mean the Lincoln would actually cost thousands more. Lease prices have gone skyward, too. Cars Direct found that in the middle of this year, the average monthly cost for a 36-month lease in California was $1,023, a $131 increase compared to lease prices in February. Two months later, the average monthly cost in California has gone up another eight dollars, to $1,031. That's only $14 less per month than the lease for an Escalade Luxury, even though the Cadillac has a list price $9,500 higher. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.