2001 Lincoln Town Car Executive on 2040-cars

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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.

Ford recalls nearly 1.3 million Fusions, Lincoln MKZs for brake hose leaks

Ford Motor is recalling nearly 1.3 million Fusion and Lincoln MKZ sedans built from the 2013 through 2018 model years because their front brake hoses may rupture and leak brake fluid, which could affect stopping ability and increase the risk of a crash. The company notified the National Highway and Transportation Safety Administration and says that in the event a leak occurs, the brake fluid warning light may illuminate on the instrument cluster behind the steering wheel. Dealers will replace the front brake hoses, free of charge, and notification letters to owners are to be mailed in mid-April. A second letter will be mailed once replacement parts are available. Owners may contact Ford customer service at 1-866-436-7332. Ford's number for this recall is 23S12. The vehicles affected were manufactured between Feb. 3, 2012, and July 19, 2017. In mid-2020, Ford recalled 488,594 Ford Edge and Lincoln MKX SUVs for a similar problem regarding leaking brake lines.   Recalls Ford Lincoln Safety

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.