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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:

2023 Lincoln Aviator gets a few small changes, small price bumps

The 2023 Lincoln Aviator Lincoln makes a few small changes to its offer, as related by Ford Authority. On the feature side, the 12-way Comfort Front Seats for driver and passenger are gone. The bottom three trims, Standard, Reserve and Grand Touring all come with a 10-way Comfort Front Seat for the driver and an eight-way throne for the passenger. The Black Label and Grand Touring continue with their 30-way Perfect Position front seats. Outside, the Bronze Smoke Metallic and Burgundy Velvet Metallic colors depart the exterior palette, replaced by Diamond Red Metallic Tinted Clearcoat and Jewel Sandstone. The Jet Package expands availability to the base Reserve trim, no longer requiring the Reserve I package, and to the Black Label, which didn't offer it before. The package full of black trim pieces and wheels hasn't changed from when Lincoln introduced it a year ago, including bits like a solid black grille and surround, black door spears and mirror caps, and 22-inch black aluminum wheels. A similar package exclusively for the Black Label trims is called the Black Label Special Edition Package. It makes the same changes as the Jet Package while also painting the roof black. Finally, the Illumination Package for the Grand Touring PHEV adds fog lights for 2023. Prices for the 2023 model year after the $1,195 destination charge are up a little over the sums we noted when the 2022 model year debuted. Remember, however, that 2022 pricing went down on all but one trim by anywhere from $5 to $1,085. The new MSRPs are in line with model year premiums we're used to seeing from a time before industrial upheaval. The figures and their differences from 2022 are: Standard: $54,535 ($1,875) Reserve: $59,700 ($1,150) Grand Touring: $70,385 ($830) Black Label: $81,920 ($1,375) Black Label Grand Touring: $90,475 ($1,375) Engine choices don't change, those being the twin-turbo 3.0-liter EcoBoost V6 with 400 horsepower and 415 pound-feet of torque for all trims but the Grand Touring PHEV. The plug-in hybrid electrifies that engine to make a combined 494 hp and 630 lb-ft. Every Aviator shifts through a ten-speed automatic. The Aviator has sold 20,324 units so far this year. Based on figures for the past three years, we anticipate it will finish above last year's 20,324 sales and 2020's tally of 23,080 sales. A refresh expected in 2024 should bring more substantial updates and improvements.  Related video: This content is hosted by a third party.

Junkyard Gem: 2004 Lincoln Navigator Ultimate 4x4

Things in the American SUV world got a lot more interesting during the late 1990s, when Ford and GM realized that the best way to print bales of money did not involve bringing over their European-market sedans for sale here. Instead, they would take their big sport utility vehicles, pry off the badges of their proletariat-grade marques, and slather them in luxury materials and the latest gadgetry. Ford was first with the Ford Expedition-based Lincoln Navigator in the 1998 model year, with The General transforming the GMC Yukon Denali into the Cadillac Escalade a year later. Today's Junkyard Gem is an early second-generation Navigator, found in a Denver-area car graveyard. The second-generation Navigator was built for the 2003 through 2006 model years. It didn't look much different from its predecessor, but it (and its Expedition sibling) had a brand-new independent rear suspension that gave it a lower rear floor and a somewhat less truck-ish ride. This generation of Navigator was the first luxury SUV to offer powered retractable running boards. This truck, being a top-trim-level Ultimate, has them. With an MSRP of $56,140 (about $93,069 in 2023 dollars), the Navigator Ultimate 4x4 was the most expensive new production car or light truck offered by the Ford Motor company in the United States as a 2004 model. The introduction of the $149,995 Ford GT the following year stole that crown from the Navigator, of course. That's genuine walnut trim, not the phony wood that went into Malaise Era Lincolns. The dash layout was inspired by that of the 1961 Continental, according to Lincoln PR. Power came from a 5.4-liter DOHC V8 rated at 300 horsepower and 355 pound-feet. Curb weight approached three tons. This one looks to have been in good cosmetic condition when it got here. A quick VIN check shows that it was for sale at a Denver used-car joint a few months back, with just under 140,000 miles on the odometer and a price tag of $4,900 (which is about $3,104 in 2004 dollars, or a depreciation of nearly 95% in 19 years). Perhaps the engine or transmission failed soon after that, leading to this grim fate. That wood-and-leather steering wheel felt … just like a football? You could operate its power features in time to music, if you so chose. The 2004 Navigator was forced to share this commercial with the smaller Explorer-based Aviator.