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2024 Lincoln Navigator won't offer rear-wheel drive

Another Lincoln rear-wheel-drive trim bites the dust, following the course of the 2024 Lincoln Nautilus. When Cars Direct looked over an order guide for the 2024 Lincoln Navigator, the outlet discovered the omission of an RWD variant. The site inquired with Lincoln about the absence, anf the automaker responded, "24MY Navigator will be exclusively available as a 4x4." The relevant news for consumer wallets is that the change automatically raises the Navigator's base price by $3,000, the cost of adding four-wheel drive to the two trims that offer it, entry-level Premiere (currently called the Standard trim) and Reserve. The good news is that the order guide contained price data for the 2024 SUV, with Cars Direct saying the base Navigator MSRP is otherwise only going up $40. Early MSRP data for the 2024 model after the $1,895 destination charge, and the differences from 2023, shows: Premiere: $84,660 ($3,040) Reserve: $97,220 ($3,390)  Black Label: $112,646 ($1,495) Among the competitive set, the all-wheel drive 2024 Cadillac Escalade in base Luxury trim starts at $85,690, $1,030 more than the 2024 Navigator. The Cadillac's price gets pushed beyond the Navigator's by the $1,500 charge for three years of OnStar and Connected Services. Cadillac doesn't include this in the MSRP, instead listing the line in the Options section of the Summary page on the configurator; however, the "option" can't be removed. The 2023 Jeep Wagoneer Series III 4x4 — the top trim — starts at $77,200, the base trim of the 2023 Jeep Grand Wagoneer 4x4 starts at $92,945. The 2023 Mercedes-Benz GLS 450 starts at $82,950, the BMW X7 xDrive40i starts at $82,895.   According to Ford Authority, Lincoln's leaving the 2024 Navigator pretty much alone while the automaker prepares a refreshed 2025 model. For next year, Flight Blue returns to the color palette for the Standard and Reserve trims, displacing Ocean Blue. The most recent 2025 Navigator spy shots haven't revealed much of note, but it's clear it will carry design influences from the new Nautilus.

Ford names Lincoln chief as North American president following Nair's departure

Ford announced yesterday that its North American president Raj Nair would no longer be working for the company due to "inappropriate behavior." As a result, the company needed fill that gaping vacancy. The new North American president and Ford Group vice president will be Kumar Galhotra, and his term in the new role will start on March 1. Galhotra will remain the group vice president and chief marketing officer for Lincoln through March, meaning he's the head of the luxury brand. He's had this position since 2014. Before that, he was vice president of engineering for all of Ford. With Galhotra's promotion, a number of internal promotions follow. Joy Falotico, current chairman, CEO and group vice president of Ford's credit division will fill Galhotra's position, and Dave McClelland, vice president of marketing for Ford Asia Pacific, will fill her role. Other shuffling at Ford includes Stewart Rawley's promotion to vice president for Ford North America and chief operating officer. He is the current vice president for strategy at Ford. Ford China's chairman and CEO John Lawler will take Rawley's old role, and Cathy O'Callaghan will take over Lawler's job at Ford China, but not until June 1. O'Callaghan is currently vice president, corporate controller and chief financial officer for global markets at Ford. Related Video:

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.