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Hot-selling Ford Expedition, Lincoln Navigator get production boost

Ford is investing an additional $25 million in its Kentucky Truck Plant in Louisville to increase by 25 percent production of the hot-selling and all-new Lincoln Navigator and Ford Expedition SUVs. The investment adds to $900 million in previously announced spending at the plant, which also builds F-Series Super-Duty pickups and employs 8,400 workers. Assembly-line workers are putting in overtime and working voluntary weekend shifts to keep up with demand. The new investment will cover upgrades to the assembly line but does not involve further hiring, Ford spokeswoman Kelli Felker says. The popularity of the Ford Expedition and Lincoln Navigator is a bright spot as Ford stock has been battered by Wall Street amid concerns concerns about the automaker's future vision and slowness to detect trends. Ford says the investment is an example of its bid to improve "operational fitness," one of CEO Jim Hackett's common refrains. Ford says Navigator retail sales more than doubled in January, and Navigators are spending an average of just seven days on Lincoln dealership lots as customers trade in vehicles including Land Rovers and Mercedes-Benz. Nearly 85 percent of buyers are opting for high-end Black Label and Reserve trim packages, contributing to an average transaction price increase of more than $21,000 in January compared to a year ago. The 2018 Navigator won the North American Truck of the Year award and also topped a Detroit News poll of public favorites at last month's Detroit Auto Show. Sales of the Expedition, meanwhile, were up almost 57 percent last month as the full-size SUVs also spent an average of just a week on dealer lots. Platinum trim models represented 29 percent of sales, pushing transaction price increases up $7,800. Ford gave the 2018 Expedition an all-aluminum body to save mass in its first significant redesign since 2007. The plant last year got nearly 400 new robots, mainly in the body shop, to help increase line speed, and Ford added a robot lab where employees can test software tweaks or troubleshoot issues away from the factory floor. The Louisville plant also benefits from extensive new data analytics, with seven big-screen monitors providing minute-by-minute updates showing progress against hourly targets or alerting workers to pending parts shortages. A huge spare-parts "vending machine" lets workers more quickly locate needed parts and keep inventory at necessary levels.

Ford 2Q profit drops 86% as it restructures overseas

DEARBORN, Mich. (AP) — Ford's net profit tumbled 86% in the second quarter due largely to restructuring costs in Europe and South America. Net income for the April-through-June period dropped to $148 million, or 4 cents per share. Without the charges the company made 28 cents per share. Revenue was flat at $38.9 billion. On average, analysts surveyed by FactSet expected earnings 31 cents per share on revenue of $38.49 billion. Chief Financial Officer Tim Stone says the company had charges of $1.2 billion as it moved to close factories in Europe and South America. He says Ford already is seeing an impact from its global fitness measures that included a reduction of 7,000 white-collar workers. Ford, which released numbers after the markets closed Wednesday, says its results include a $181 million valuation loss on an investment in a software company, trimming 4 cents off adjusted earnings per share. Its stock fell 6.3% in after-hours trading to $9.68. Stone said Ford is in the early stages of its restructuring, but already is seeing improvement in some regions. Free cash flow also improved by 80% to $2.1 billion in the first half of the year, he said. "We're already starting to see some early benefits," he said. "A lot of work to do." The company expects improvement in the second half of the year as more new big SUVs hit dealerships and more of the restructuring takes hold. Ford on Wednesday forecast pretax adjusted earnings of $7 billion to $7.5 billion for all of 2019, compared with $7 billion last year. The company previously had only said that pretax earnings would improve. Full-year adjusted earnings per share are forecast to be $1.20 to $1.35, up from $1.30 in 2018. Previously it did not give per-share guidance. Ford's U.S. sales fell nearly 5% in the second quarter, according to the Edmunds.com auto pricing site, as the company exited most of its passenger car business. But Stone said sales of the new Ford Ranger small pickup offset much of that as its share of the small truck segment rose 14%. Edmunds, which provides content for The Associated Press, said Ford's average vehicle sale price rose 2.8% to $41,328 during the quarter. In North America, Ford's biggest profit center, pretax earnings fell 3% to just under $1.7 billion, which the company blamed on switching its Chicago factory to build new versions of midsize SUVs.

Why Grandpa loved Lincoln: Looking back at a century of design

It’s been 100 years since Henry Ford, in the aftermath of World War I, purchased the scraps of the Lincoln Motor Company. Ford put his son Edsel in charge of the automaker, and challenged him to create a luxury car company that could rival Cadillac, Packard and Pierce-Arrow. This meant, first off, bringing actual automotive designers into the fold, building out FordÂ’s first such department. The Model T, FordÂ’s then long-in-the-tooth mainstay, was created by engineers, and looked it. “For Lincoln, the innovation and setting of new standards of modernity has always been a core of our design,” said Kemal Curic, a 20-year veteran of Ford, and global design director of Lincoln since 2014. “Since its founding purchase from Henry Leland, Lincoln was always courageous to introduce new designs.” These included concentrations on streamlining and exuberance. These focci yielded a number of vehicle designs that were influential not just for the brand, but for the industry. 1936 Lincoln Zephyr, 1939 Lincoln Presidential Limo “Some of the cars that changed America were the 1936 and ‘38 Zephyr. The ‘36 for its aerodynamic look, and the ‘38 for its patented horizontal grille,” said Lincoln archivist and historian Ted Ryan. “Also, the 1939 Zephyr Continental, developed in ‘39 as a 1940 model – later known just as the Lincoln Continental – instituted another icon that stayed in place for decades with the spare tire initially exposed, and then treated with the spare tire hump.” Both Ryan and Curic also called out a number of other inspiring Lincoln models. These included the 1955 Lincoln Futura concept – which was later turned into the Batmobile by George Barris – and the 1961 Continental, famed for its rectilinear slab sides and suicide doors, plus its role as a presidential limousine in the Kennedy era. “These cars emphasized horizontality,” Curic said. “We like to relate that to the designs of Frank Lloyd Wright in his architecture. Wright loved his Lincolns. These proportions on the exterior were always Lincoln signifiers.” 1961 Lincoln Continental, Lincoln Futura Concept Lesser known than these is an example of what, back in the day, was known as a Hybrid: a car featuring an American powerplant and European design. “IÂ’m a huge fan of the 1955 Indianapolis Concept,” Curic said, a stunning jet-like vehicle that was last up for auction by RM SothebyÂ’s in 2013.