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Lincoln's first full EV coming in 2022 as part of electrification push

Ford may be grabbing all the electric headlines right now, but soon Lincoln will be snagging a few, too. In a presentation to the media, the company outlined its electrification strategy for this decade, and it really kicks off next year with the first full electric Lincoln. Lincoln hasn't said much about what this 2022 EV will be like, not even whether it will be a crossover or a sedan. But the company did say the EV will be based on a modular electric platform supporting rear- or all-wheel drive. It's a new platform not related to the current Mustang Mach-E. This electric vehicle will also be the first of four full EVs launched between now and 2030. Lincoln will also increase its electrification of internal-combustion models. The goal is for the entire line-up to be electrified by 2030, and half of the brand's volume is expected to be electrified around 2026. Besides electrification, Lincoln highlighted some other steps it was taking to make the brand and the ownership experience more appealing. Technology and services were highlights. It's putting out its first over-the-air updates for the Lincoln Nautilus this summer with improvements for navigation, Apple CarPlay and the digital owner's manual. Amazon Alexa assistant is coming to Lincolns this fall, and hands-free driving assist is coming later. Lincoln is also playing with new services, such as a refueling and car cleaning service that's being tested in Houston. Finally, the company is adding more standalone retail stores with a new, more luxurious and customer-focused design. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

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.

Lincoln previews the blingier Navigator it will launch for 2022

Lincoln's current-generation Navigator will receive a mid-cycle update for the 2022 model year to fend off a growing list of rivals. The company published a short video on social media to preview some of the changes it has made. Up front, the refreshed Navigator features new-look headlights with LED accents and a subtly revised grille fitted with what looks like a backlit Lincoln emblem. There's also a new piece of trim labeled "The Lincoln Motor Company," which is the carmaker's official name. All told, the changes made to the front end look relatively minor. We're guessing that the rear fascia will be similarly nip-and-tucked, but it doesn't appear in Lincoln's 18-second video and it was completely camouflaged in the last batch of photos we received from our spies. However, we've seen enough of it to tell that the massive light bar will be either significantly trimmed down or removed altogether. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Technology updates will likely round out the changes made for 2022. It's too early to tell if Lincoln will mix things up under the hood. As of writing, the Navigator's only available engine is a twin-turbocharged, 3.5-liter EcoBoost V6 rated at 450 horsepower and 510 pound-feet of torque. Its most direct rival is the recently-redesigned Cadillac Escalade, which eschewed downsizing and still offers a V8, and it now needs to worry about the new Jeep Grand Wagoneer, which is V8-only. Could Lincoln surprise us by giving the big Navigator its V8 engine back? Lincoln will unveil the 2022 Navigator next Wednesday, August 18, and sales will start in the following weeks. Unsurprisingly, the Ford Expedition that the Navigator is related to will also enter 2022 after undergoing a series of changes. Visual tweaks will help the new model stand out from its predecessor, and spy shots suggest at least two new variants will join the range. One is a performance-oriented ST-badged model, and the other is an outdoorsy Timberline trim.