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Ford Model e losing billions as it says EV unit should be seen as startup

DETROIT — Ford Motor Co.'s electric vehicle business has lost $3 billion before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology. The figures were released Thursday as Ford rolled out a new way of reporting financial results. The new business structure separates electric vehicles, the profitable internal combustion and commercial vehicle operations into three operating units. Company officials said the electric vehicle unit, called “Ford Model e,” will be profitable before taxes by late 2026 with an 8% pretax profit margin. But they wouldn't say exactly when it's expected to start making money. Chief Financial Officer John Lawler said Model e should be viewed as a startup company within Ford. “As everyone knows, EV startups lose money while they invest in capability, develop knowledge, build (sales) volume and gain (market) share,” he said. Model e, he said, is working on second- and even third-generation electric vehicles. It currently offers three EVs for sale in the U.S.: the Mustang Mach E SUV, the F-150 Lightning pickup and an electric Transit commercial van. The new corporate reporting system, Lawler said, is designed to give investors more transparency than the old system of reporting results by geographic regions. The automaker calculated earnings for each of the three units during the past two calendar years. Model e had pretax losses of $900 million in 2021 and $2.1 billion last year, and it is expected to lose $3 billion this year. In the past two years Ford has announced it would build four new battery factories and a new vehicle assembly plant as well as spending heavily to acquire raw materials to build electric vehicles. By the end of this year, the company based in Dearborn, Michigan, expects to be building electric vehicles at a rate of 600,000 per year, reaching a rate of 2 million per year by the end of 2026. Ford Blue, the unit that sells internal combustion and gas-electric hybrid vehicles, made just over $10 billion before taxes during the last two years. Ford Pro, the commercial vehicle unit, made $5.9 billion during those years, the company said. For this year, Ford expects Ford Blue to post a $7 billion pretax profit, modestly better than last year. Ford Pro is expected to earn $6 billion before taxes, nearly double its earnings last year, Lawler said. Ford was to present the new structure, announced last March, to analysts and investors on Thursday.

2020 Lincoln Aviator Review and Buying Guide | All-American sophistication

The new 2020 Lincoln Aviator lands into one of the hottest luxury segments – three-row family crossovers – and is not only an incredibly relevant product, but a fully competitive and appealing one too. It all starts with a uniquely characterful interior that's likely to earn the Aviator a fair share of takers by itself. Then there's the exterior styling, which is long and sleek with a tapered roofline courtesy of new rear-wheel-drive architecture developed in concert for the Aviator and also-new Ford Explorer. The two vehicles share common bones, but the skin and muscle are quite different. Emphasis on muscle, too, because the Aviator's powertrain options utterly blow away its competition (a 400-horsepower turbo V6 and the Grand Touring's 494-hp plug-in hybrid). However, despite those eye-popping performance numbers, don't expect the Aviator to be a firm-riding, sport-tuned SUV. All that power is there if you need it, but it's part of an overall competent, composed driving experience rather than one thatÂ’s tightly wound and over-caffeinated. Frankly, it's a recipe that should make a lot of sense to American luxury buyers. If you're looking for a big, luxurious family vehicle, put it on your shopping list. What's new for 2020? The Aviator is an all-new model that slots into a previously unfilled slot in the Lincoln lineup between the five-passenger Nautilus and full-size, truck-based Navigator. 2020 Lincoln Aviator Interior View 9 Photos What's the interior and in-car technology like? No other company's interiors look anything like the mid-century-inspired palace of cool you get in the Aviator. All versions are available with distinctive color schemes shown above, but the Black Label trim level stands out the most with its three available "themes" of "Chalet," "Flight" and "Destination" that get special colors and trim types. Perhaps the quality of some plastics and the fit-and-finish aren't up to Mercedes or BMW levels, but everything looks so special that it makes up whatever deficit exists. Most competitors just seem drab and generic by comparison. In terms of technology, every 2020 Aviator comes standard with a 10-inch touchscreen mounted so high on the dash and close to the driver that it actually seems larger. It runs the Lincoln-skinned version of Ford's Sync 3 interface, which is generally user friendly, though it perhaps doesn't look as cool and sophisticated as the all-digital gauge cluster (or the interfaces of rivals).

Want a new 2022 Lincoln Navigator? You'll have to custom order it

Lincoln showed the refreshed 2022 Navigator in August of last year, but the luxury SUV only entered production on January 18 of this year. After just three months of rolling down the line at Ford's Kentucky Truck Plant, Lincoln has closed the doors on pumping out inventory units. Ford Authority noticed the Navigator page at Lincoln's consumer web site now reads, "The 2022 Lincoln Navigator is only available for custom order. Some models, trims, and features may not be available. Please contact your local Lincoln Retailer for updates and assistance." It's a small bit of sub-optimal news for shoppers who want to hit the dealer lot and shop for an SUV like choosing a pet at a shelter. It hasn't been such a bad thing for Lincoln, though. Ford has made it intentions clear about the future of dealer inventory and custom orders, emphasizing that it wants less of the former and more of the latter. With the Navigator, that part of the plan appears to be working out, FA reporting that retail orders in February were up 291% over February 2021. Threads on the Blue Oval Forums show buyers willing to wait for their orders as well, one buyer who placed an order on January 20 still holding out for a VIN and tentative production date at the time of writing. It doesn't appear the move to custom orders is the result of overwhelming demand, however. Rather, it seems that Ford just can't make enough Navigators to satisfy what demand there is. Production issues at the Kentucky Truck Plant that also builds the Ford Expedition and Super Duty pickup have crimped output for all three models. Expedition and Navigator sales in the U.S. are both down more than 56% through the first three months of this year. Navigators that do make it out the plant doors are leaving without Active Park Assist 2.0, a standard feature on the Lincoln that is constrained on a number of Ford vehicles as well thanks to you know what. Ford is at least able to do the next best thing, which is installing an Active Park Assist 2.0 Prep Kit that screws in the sensors and hardware. When chips are available, which the automaker believes could be 12 to 18 months, an owner can stop by a dealer to have that chip installed free of charge. It's a nicer solution than a Semiconductor Shortage Package for everyone involved. Order books for the 2023 Lincoln Navigator are expected to open in two months, with production slated to start in September. Maybe things will be better then. Or not.