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Jim Hackett says metal tariffs costing Ford $1 billion in profits

Ford CEO Jim Hackett divulged in an interview with Bloomberg that the Trump administration's tariffs on metals imported from the European Union, Canada and Mexico have affected the automaker's balance sheet, adding that trade disputes need a quick resolution. "From Ford's perspective, the metals tariffs took about $1 billion in profit from us," Hackett told the outlet. "The irony is we source most of that in the U.S. today anyways. We're in a good place right now, but if it goes on longer there will be more damage." Hackett did not specify what period the $1 billion covered, but a Ford spokesman said the CEO was referring to internal forecasts at Ford for higher tariff-related costs in 2018 and 2019. President Trump in March announced his intention to enact 25 percent tariffs on steel imports and 10 percent on imported aluminum from the three trade zones as a way to protect the U.S. steel industry. The move sent U.S. automakers' stock prices plunging at a time when they were coming off weak monthly sales reports. Separately, President Trump has targeted China with two rounds of tariffs targeting a combined $260 billion worth of imports. China has responded by enacting 25-percent tariffs on U.S. goods including vehicle imports. In the interview, Hackett said that has hurt demand for Lincoln, which has found a growing market for its luxury vehicles in China, and made the price of the Lincoln MKC less attractive to Chinese buyers. The MKC is built at the company's Louisville, Ky. assembly plant. "We've had to move people in that factory to other operations because of that trade problem," he said. It's not clear what those moves entail or how many workers were involved. Autoblog sought comment from a Ford spokeswoman and will update this story if we hear back. Ford last month announced it was scrapping plans to import the Focus Active small crossover to the U.S. from China because of the new 25-percent tariffs on Chinese imports. Material from Reuters was used in this report Related Video:

Lincoln Continental sent 'into the vault' ... again

Ford confirmed today that the Lincoln Continental will be discontinued for North America after the 2020 model year. The news certainly isn't surprising given the Continental's meager sales figures, lukewarm critical reception and the fact that the Navigator has resoundingly entrenched itself as the brand's true modern flagship. "The name will go back into the vault," Lincoln spokesperson Angie Kozleski told the Detroit Free Press. "It has a long and rich history. But production for this vehicle will be ending at the end of this year." In an official statement, the brand said the decision was due to the continued decline of full-size premium sedans in the United States. The Continental is built in Flat Rock, Mich., and dates back to 2017 when Lincoln resurrected the nameplate after a 15-year hiatus. The car itself technically replaced the unloved MKS in Lincoln's lineup, and although based on a well-received concept car, the actual production model failed to live up to the rather grand style statement that had been promised. The interior in particular was a letdown. Lincoln sold 6,586 Continentals in 2019; likely many of those were fleet sales. Nevertheless, it can be argued that this Continental triggered Lincoln's rebirth. It was named something, for starters, as the Nautilus, Aviator and Corsair would eventually follow, signaling the end to the unloved and confusing MK nomenclature. And although it didn't live up to its concept, Lincoln at least learned from the episode and didn't repeat the mistake with Navigator or Aviator. They came as promised.  Though it's dead in the U.S., the Continental will live on for 2021 in China, where its sales are in decline but not by as much. And although it'll likely be remembered as a footnote in the long history of cars named Lincoln Continental, and with few fans in its corner, at least it reaches the end of the line having left a mark. Cue the Traveling Wilburys.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2017 Lincoln Continental: Detroit 2016 View 17 Photos Plants/Manufacturing Lincoln Sedan

2017 Lincoln Continental reimagined as a coupe

If nothing else, the production version of the Lincoln Continental has provided ample water-cooler fodder around the office. There are a few camps: the "it took guts to build it" folks giving credit where due on a handsome design with an ambitious interior, and the "MKZ misstep" group haranguing the Motor Company for blowing fancy new styling cues on a lesser beast. And yet, unifying forces exist. We can all agree that these artist renders depicting a Continental sans a pair of doors present a captivating notion. Back in 1939, the original Continental was a two-door. Over time, four doors of various types, including convertibles, infiltrated the lineup. The last time the Continental was on sale, it was a four-door front-driver based on the platform shared with the Mercury Sable and Ford Taurus. Even though the new production Continental, like that penultimate one, is based on a front-drive platform, the execution is much different. As you probably already know, it features a so-far unique 400-horsepower 3.0-liter V6 and an advanced torque-vectoring AWD system, standard. Some neat concept car touches, like the fancy door handles and patented 30-way adjustable seats, made it in. What a two-door would bring to the table is mainly stylistic, emphasizing the long parallel character line in the door with brightwork running under the window that's echoed in the lower door sculpting and chrome strip. It accentuates the car's length, and calls attention to the trim taillights and their interconnecting bar element. A longer door makes for a more elegant transition into the C-pillar. It makes the production Continental, with its blacked-out but still obviously chunky B-pillar, look fussy. We don't expect Lincoln to build a coupe – that may be too wild for a company that doesn't seem completely comfortable with the notion of reinvention – but these renders were just too good not to share. Let us know what you think in the comments below. Related Video: