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Quitting Mexico factory helps bring down Ford earnings $200 million in 2016

Ford released its 2016 earnings report this morning, and despite a fourth quarter net loss it proved to be the automaker's second most successful year ever, following record breaking numbers in 2015. Losses for the year come from a number of sources, including accounting changes and a $200 million hit for backing out of the small-car factory in San Luis Potosi, Mexico. Despite the loss, come March 9 about 56,000 UAW-represented employees will receive a $9,000 profit-sharing check. That, like most of Ford's other 2016 metrics, is slightly down from the year before, but it's still the second best profit-sharing payment ever. Total net income was $4.6 billion, down $2.8 billion from 2015. Total revenue for 2016 was $151.8 billion, up $2.2 billion. Ford's earnings report lists a global market share of 7.6 percent, down a tenth from 2015. Ford's European and Asia-Pacific markets posted their best and second best pre-tax profits respectively. The South American, Middle East, and African markets all took hits because of unstable economies and other external factors. Ford expects to have another down year in 2017 as it invests in new and emerging markets and focuses more on its mobility projects.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: Ford via Automotive NewsImage Credit: Getty Earnings/Financials Plants/Manufacturing UAW/Unions Ford Lincoln Mexico ford earnings

Why Grandpa loved Lincoln: Looking back at a century of design

It’s been 100 years since Henry Ford, in the aftermath of World War I, purchased the scraps of the Lincoln Motor Company. Ford put his son Edsel in charge of the automaker, and challenged him to create a luxury car company that could rival Cadillac, Packard and Pierce-Arrow. This meant, first off, bringing actual automotive designers into the fold, building out FordÂ’s first such department. The Model T, FordÂ’s then long-in-the-tooth mainstay, was created by engineers, and looked it. “For Lincoln, the innovation and setting of new standards of modernity has always been a core of our design,” said Kemal Curic, a 20-year veteran of Ford, and global design director of Lincoln since 2014. “Since its founding purchase from Henry Leland, Lincoln was always courageous to introduce new designs.” These included concentrations on streamlining and exuberance. These focci yielded a number of vehicle designs that were influential not just for the brand, but for the industry. 1936 Lincoln Zephyr, 1939 Lincoln Presidential Limo “Some of the cars that changed America were the 1936 and ‘38 Zephyr. The ‘36 for its aerodynamic look, and the ‘38 for its patented horizontal grille,” said Lincoln archivist and historian Ted Ryan. “Also, the 1939 Zephyr Continental, developed in ‘39 as a 1940 model – later known just as the Lincoln Continental – instituted another icon that stayed in place for decades with the spare tire initially exposed, and then treated with the spare tire hump.” Both Ryan and Curic also called out a number of other inspiring Lincoln models. These included the 1955 Lincoln Futura concept – which was later turned into the Batmobile by George Barris – and the 1961 Continental, famed for its rectilinear slab sides and suicide doors, plus its role as a presidential limousine in the Kennedy era. “These cars emphasized horizontality,” Curic said. “We like to relate that to the designs of Frank Lloyd Wright in his architecture. Wright loved his Lincolns. These proportions on the exterior were always Lincoln signifiers.” 1961 Lincoln Continental, Lincoln Futura Concept Lesser known than these is an example of what, back in the day, was known as a Hybrid: a car featuring an American powerplant and European design. “IÂ’m a huge fan of the 1955 Indianapolis Concept,” Curic said, a stunning jet-like vehicle that was last up for auction by RM SothebyÂ’s in 2013.

Ed Welburn leaves a lasting legacy at GM design

General Motors design chief Ed Welburn retired July 1, and the soft-spoken stylist is leaving a lasting legacy at the automaker and on the industry. He became the first African American to lead design at a carmaker when he took over GM's top spot in 2003. Just six people have overseen the company's design, and Welburn followed in the footsteps of icons like Harley Earl and Bill Mitchell. When Welburn was given expanded global oversight in 2005, it wasn't ceremonial. He helped unite the company's sprawling design empire, and today is in charge of 2,500 people who have a hand in designing GM cars. "He nurtured a creative, inclusive, and customer-focused culture among our designers that has strengthened our global brands," Mary Barra, GM chairman and CEO, said in a statement." Welburn took the helm when GM and the industry were shaking off a general styling malaise that pervaded the 1980s and 1990s. During his 13 years in charge, he took risks, produced a wide range of styles for everything from hybrids to sports cars to big trucks, and leaves GM design in a better place. Welburn's replacement, Michael Simcoe from GM's international design unit, has big shoes to fill. News & Analysis News: Tesla attracted more than 325,000 preorders of the Model 3 in about a week. Analysis: If anything, the Model 3 is more popular than many expected. Elon Musk tweeted that surprising figure on Thursday, and he said just five percent ordered the maximum number of two. That seems to indicate actual owners rather than speculators are fueling the demand. With a starting price of $35,000 before incentives and an electric range of 215 miles, the Model 3 is the Tesla that's attainable for a lot of people. Clearly, that notion is resonating. News: Lincoln has drawn 40,000 hand-raisers for the Continental. Analysis: Okay, that's not a Tesla figure, but it's still an encouraging sign for Lincoln that one of its most famous and historic names still resonates in 2016. It also demonstrates using a real, albeit slightly dusty name, was the right call for the MKS replacement. "No other Lincoln vehicle has generated this much interest in this little time," Lincoln president Kumar Galhotra said in New York last month. The concept that debuted a year ago put Lincoln back on the map, and the production version remains true to that promise. It will stand out on the road when it arrives this fall, and ultimately, that kind of style will determine Lincoln's future.