Lincoln 10 Passenger Limo on 2040-cars

Auto blog

Ford Edge, Lincoln Nautilus to die in 2023

Last summer saw two separate reports that Ford killed the next-gen Edge due in 2023, the move leading to the death of the Lincoln Nautilus in 2024 since the Lincoln is based on the Ford. As part of its future product roundup, Automotive News looked into the futures of a range of Ford Motor Company products, reporting that the Edge and Nautilus will both die in 2023. The Edge is said to be dead for good, thanks to Ford having four two-row crossovers in the lineup with the arrival of the hugely popular Bronco line, and a three-row Explorer that's only $175 more expensive at the moment. The Nautilus, however, could get a second act. When Ford came to an agreement with Canada's Unifor union about the Oakville Assembly Plant, which builds the Edge and Nautilus, the automaker pledged to turn Oakville into an EV production facility. Lincoln's big on battery-electric vehicles in the near-term, Unifor mentioning Oakville product plans that would have at least one EV coming off the line by 2025 and four more by 2028. Automotive News says Lincoln's got a small crossover and a midsize crossover due in 2025, and the small one could come from Canada and slot into the space left empty by the departed Nautilus, perhaps carrying on the name, perhaps not. One step up in size, the Ford Explorer and its Lincoln Aviator platform mate will soon welcome two battery-electric cousins into the family. These will both probably debut in 2022 and go on sale in 2023, the Ford produced in the Cuautitlan, Mexico, facility that now builds the Mustang Mach-E. As for which platform they'll ride on, it's not clear yet. Ford has four dedicated EV architectures planned for the company fold: GE2, the evolution of the Mach-E's GE1 platform; TE1 for trucks, coming in 2025; the Rivian platform that will contribute a dedicated Ford vehicle; and a version of Volkswagen's MEB platform for European offerings, with Ford planning to have an all-EV lineup across the Atlantic by 2030. The Explorer and Aviator EVs could get the GE2, or if Ford wants to showcase extra-rugged chops for both, the TE1. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

GM and Ford quarterly sales continue to slump in China

BEIJING — General Motors and Ford announced their quarterly sales in China fell, albeit at a slower pace sequentially, as the U.S. automakers were hit by a slowing economy amid the Sino-U.S. trade war. GM's vehicle sales in China for the quarter ended June 30 dropped 12.2%, while Ford's sales slumped by 21.7%. While GM also suffered from heightened competition in its key mid-priced SUV segment, Ford was hurt by the limited new models for customers to choose from. For the first quarter of this year, Ford's sales in China tumbled 35.8 percent while GM's skid 17.5 percent. Still, the numbers from GM, the second biggest international automaker in China by sales, and Ford portend more uncertainty for the industry which is trying to rebound from a downward spiral that led to its first annual sales decline last year in more than two decades. GM delivered 1.57 million vehicles in China in the January-June period this year, while Ford delivered 290,321 vehicles. China's factory activity shrank more than expected in June, highlighting the need for more economic stimulus amid higher U.S. tariffs and weaker domestic demand. Annual car sales in China fell last year for the first time since the 1990s, and they are expected to fall this year too. Sales tumbled 16.4% in May from the same month a year prior, the China Association of Automobile Manufacturers (CAAM) said. That marked the 11th consecutive month of decline and followed falls of 14.6% in April and 5.2% in March. U.S. car companies' share of total China passenger vehicles sales fell to 9.6% in the first five months of this year from 10.9% in the year-ago period, according to CAAM. Over the same period, German car makers' share has risen to 23.3% from 20.9% and Japanese auto makers' to 21.3% from 17.3%. CAAM is set to announce June sales next week, which industry analysts forecast will be negative.   New models In China, GM has a joint venture with SAIC Motor Corp, in which the Buick, Chevrolet and Cadillac are made. It also has another venture, with SAIC and GuangxiAutomobile Group, in which they make no-frills minivans and have started to make higher-end cars. Sales of GM's affordable brand Baojun dropped 31.8% for the latest quarter. But luxury brand Cadillac's sales jumped 36.6%. GM sold 3.64 million units in China last year, down from 4.04 units in 2017. Ford makes cars in China through its joint venture with Chongqing Changan Automobile Co and Jiangling Motors Corp (JMC).

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.