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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:

Slew of Ford recalls affect more than a million vehicles

Ford is closing out September with the sad task of alerting owners to five different recalls, two of them camera related. The first is a safety compliance recall affecting 620,246 units of 12 models from the 2020 model year: Edge, Escape, Expedition, Explorer, F-150 and Super Duty, Mustang, Ranger, and Transit, plus the Lincoln Corsair, MKX, and Nautilus. On these vehicles, the circuit board in the rearview camera suffers from insufficient electrical conductivity. The issue can cause the resulting image to not appear or to be distorted, which can lead to an accident while reversing. Ford will begin notifying owners as of November 7 to get their vehicles to dealers for replacement of the rearview camera. The internal Ford reference for this recall is 20C19. The second camera-related issue affects the 2020 and 2021 Ford Explorer, Lincoln Corsair and Lincoln Aviator with the 360-degree camera. Technically, if you own a 2021 Explorer that only has a rearview camera and not a 360-degree camera, neither the above recall nor this one apply to you, but it's probably better safe than sorry here. There are 354,330 crossovers covered by this action. A video output issue could cause the displayed image to cut out, increasing the chances of a reversing accident. Ford will notify dealers starting October 7, the fix being to have a dealer update the Image Processing Module software. The NHTSA campaign number for this recall is 21V735, Ford’s internal reference number is 21S44.  The F-250 and F-350 Super Duty are in for another recalls thanks to potentially improper welds on the front axle's wheel end yoke. A bad weld could alter steering performance, getting the truck to pull left or right, or change the sensitivity of the steering. There are 9,628 affected trucks in the U.S. and 961 in Canada. Dealers will replace the axle assembly if any bad welds are found. Ford's reference number for this is 20S56. The fourth recall affects 38,005 Mustangs in the U.S. and another 2,873 Mustangs in Canada and Mexico from the 2020 model year. In this instance, the brake pedal bracket might fracture during sudden stopping, which can decrease brake pressure and increase the chances of an accident. Ford's internal reference for this recall is 20S52, the fix being to have a dealer replace the brake pedal bracket assembly. Finally, 126,033 units of the 2011 to 2013 Explorer are being recalled over a potential suspension issue.

2022 Lincoln Aviator MSRP discounted from $5 to $1,085

Price changes continue apace over at Lincoln. The 2022 Navigator received price boosts from the single figure to four figures, the 2022 Corsair came down in price by anywhere from three to four figures. The penultimate crossover in the four-strong lineup, the Aviator, gets one price increase of $105 to go along with discounts ranging from $105 to almost $1,100. As with the Navigator and Corsair, though, the Aviator's destination price is up by $100, from $1,095 to $1,195, trimming those discounts slightly. Prices for the new Aviator and the changes from the last 2021 pricing are: RWD Standard: $52,660 ($5 less) Reserve: $58,550 ($130 less) AWD Standard: $55,160 ($5 less) Reserve: $61,080 ($110 less) Grand Touring: $69.555 ($1.085 less) Black Label: $80,545 ($105) Black Label Grand Touring: $89,100 ($980 less) Another pricing quirk is that AWD has got more expensive on the Reserve trim. Sending power to the front wheels cost $2,510 in 2021, now it costs $2,530.  The Aviator doesn't appear to pair the price drops with punishments. The only big change for the 2022 model is former Monochromatic Package being given even more black-out trim and a name change to the Jet Package. The Monochromatic Package left bits of chrome on the car, such as the grille surround, fender badges, and window surrounds. The Jet Package abolishes those shiny bits in favor of gloss black trim. The body-colored mirrors also go black, as do the grille centers and the 22-inch wheels. It's meant to be available early this year, but at the time of writing, it's still not on the Lincoln configurator. When it does arrive, it can be optioned with the exterior colors Infinite Black, Pristine White, Silver Radiance, and Burgundy Velvet. The Monochromatic Package cost $2,000, the Jet Package will likely push that number up a bit. Ford Authority reports that Ford engineers have also reduced the latest Aviator's tow rating from 6,700 pounds with the Class IV Trailer Tow Package to 5,600 pounds. That package is standard on the Black Label Grand Touring trim, a cost option on other trims. The 2022 model isn't long for this world, GMA saying the 2023 enters production on May 30th.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.