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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

2020 Lincoln MKZ gets price and trim changes, new packages

The Lincoln MKZ doesn't have much longer to live, slated to meet the executioner later this year. The team in charge isn't letting the brand's penultimate sedan die unloved, Ford Authority reporting a raft of cosmetic changes and packages that can set the 2020 model apart from others. The three engines, FWD or AWD, and hybrid option stand pat. There's been the expected trim rationalization, though, and some noteworthy price changes. Last year's nine trim combinations are whittled to five in 2020 — the base hybrid, Reserve I in FWD and AWD, and Hybrid Reserve II are no more. The new base models see an increase in MSRP, but there are big savings on the Reserve models. The remaining trims are listed here with their price differences compared to 2019, after the $995 destination charge: Base FWD for $37,745 (+ $755) Base AWD for $39,745 (+ $755) Reserve II FWD for $44,495 (- $2,445) Hybrid Reserve I FWD for $43,495 (+ $3,505) Reserve II AWD for $45,495 (- $2,445) Outside, four colors in the current palette disappear: Empire Blue Metallic, Magma Red Metallic, Red Carpet Metallic and Silver Radiance Metallic. Four new colors take their places: Blue Diamond Metallic, Crystal Copper Metallic, Ingot Silver Metallic and Ruby Red Metallic. A new, bright aluminum 19-inch wheel with ebony pockets is available on all four trims. There's a lot more happening on the packages page, Lincoln throwing five new bundles at the configurator. Only one can be specced on the base MKZ and the MKZ Hybrid, that being the Convenience Package that gathers features such as a tilt/telescoping steering wheel with memory, power trunk lid with soft close, voice-activated touchscreen navigation, and Lincoln Experiences Phase II, which means dynamic signature lighting and smart power mirrors. That suite tacks $2,000 onto the price.  Three packages can be had only on the MKZ Reserve with either engine option and the MKZ Hybrid Reserve. The Elements package runs $800 for goodies like heated and ventilated front seats, a heated steering wheel, and heated rear seats. The $3,000 Luxury Package adds full LED headlights, Multi-Contour front seats with Active Motion, and the 20-speaker, 1,200-watt Revel Ultima Audio System. The $1,595 Monochromatic Package can only be ordered in Infinite Black or Platinum White. Both hues get upper grilles and other body trim in the chosen color, as well as 19-inch polished black wheels.

Ford issues recalls for Fiesta, Fusion, E-Series, and Lincoln MKZ

Ford has issued two new safety recalls for North America. The first covers certain 2014-15 Ford Fiestas, 2014-16 Ford Fusions, and 2014-16 Lincoln MKZs with doors that might not close properly. The second pertains to 2021 Ford E-Series stripped chassis and cutaway vehicles with a wiring harness that might chaffe and expose important wiring.    Ford is recalling 268,343 Fiesta hatchbacks, Fusion sedans, and MKZ sedans across the United States, Canada, and Mexico, with 248,912 of the affected vehicles located in the U.S. The recall says the "latch pawl spring-tab design" could crack in locations where the temperature gets too hot. If the tab breaks, the door might not shut. Or, worse, the door will shut temporarily and reopen once the vehicle is in motion. As a fix, Ford dealers will remove and replace the side door latches. In a separate recall, Ford is targeting 3,631 2021 E-Series stripped chassis and cutaway vehicles. These vehicles could have frame-mounted wiring harnesses that could deteriorate and break due to rubbing on the frame. If the chaffing wears down the harness, wiring for the fuel, trailer tow, and antilock braking systems could be exposed and damaged. In the worst-case scenario, the damage to the fuel pump wiring could cause the pump to stop working, which could stall the vehicle.  Those with affected E-Series vehicles should bring them in to dealerships for inspection. If there is no damage, technicians will add anti-abrasion tape over the area and "ensure clearance to surrounding components." If the harness is damaged, the wiring will be spliced and fixed, then anti-abrasion tape will be added. Ford also issued a third recall, but it is specifically for the Canadian market. On 54,292 examples of 2006-10 Ford Fusions, 2006-10 Mercury Milans, and 2006-10 Lincoln MKZs, a valve inside the hydraulic control unit might stick open. According to Ford, this could result in a longer brake pedal travel, which could possibly create dangerous situations if the driver is unaware. Dealerships will inspect the control units and replace those that are defective. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2021 Ford Bronco and Bronco Sport Leaks!!