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Ford rakes in record $2.5b profit during Q1 of 2016

Fears that the auto industry is due for a downturn may be fading. Ford posted record profits in the first quarter of 2016, the company announced Thursday. Chief financial officer Bob Shanks said Ford enjoyed its best quarterly performance in history, generating operating profits of $3.8 billion and a record profit margin of 9.8 percent. Overall, the company's $2.5 billion profit in the quarter more than doubled from the 2015 quarterly results. "The first quarter was an absolutely terrific start to the year, an all-time record for the company, with very strong performance across the business," said chief executive officer Mark Fields. "We're excited about our future and confident in our ability to deliver long-term growth and profitability as we expand our business model to be both an auto and a mobility company." During the quarter, Ford announced the creation of Ford Smart Mobility, a new subsidiary that would vet future mobility projects in the realm of car-sharing, fractional ownership and autonomous deployment. The company also kicked off a billion-dollar makeover of its Dearborn, Michigan campus and headquarters. The company's after-tax earnings of $0.68 per share trumped Wall Street's expectations, and were significantly up from $0.39 per share a year ago. The results were buoyed by the company's fourth consecutive quarter of growth in Europe, which comes after a long period of stagnant sales. Ford's earnings results come amid reports that April car sales are on pace to jump 4 percent year over year, which would make it the best-selling April in history. Kelley Blue Book projects that car sales will reach 1.51 million this month, placing the industry on track for 17.5 million vehicles sold in 2016. Even as SUV and crossover sales drive the market, analysts say Nissan and Honda are positioned to benefit from renewed interest in mid-size cars. "Following a disappointing March, we expect sales to get back on track in April with SAAR in the mid-17 million range," said Tim Fleming, analyst for Kelley Blue Book. "Increased fleet sales and rising incentive spending among automakers remain the factors to watch, but the retail demand appears to be holding steady, signaling the industry's strong run isn't over quite yet." Related Video: Image Credit: Getty Earnings/Financials Ford Lincoln 5g Connectivity mobility auto industry financial

2015 Ford F-150 brings big aluminum to the Rust Belt [w/video]

Just when you thought you'd figured the fullsize truck market out, Ford goes and throws us a massive curve ball with the 2015 F-150. The big headline news aren't tow or payload ratings, though we're sure those figures will be fully competitive if not class leading, they haven't yet been announced. Instead, the big headline news Ford is highlighting are the truck's new aluminum-intensive structure and 2.7-liter EcoBoost V6 engine.
And with good reason - all that aluminum means that Ford was able to cut a massive 700 pounds from the truck's curb weight. That is going to cause all sorts of great things to happen to the 2015 F-150's driving dynamics, performance and fuel efficiency, not to mention its ability to haul heavy loads. For those customers worried about the strength of aluminum versus the more conventional steel, Ford is quick to point out that many military vehicles, such as the HMMWV and Bradley Fighting Vehicle, use a very similar sort of aluminum alloy in their construction.
It's also worth mentioning that the backbone, a fully boxed ladder frame, is hewn from high-strength steel. Ford says "2015 Ford F-150 is the strongest and most durable F-150 ever," for what it's worth, claiming that "torture tested" in labs and in the real world for more than 10 million miles. What's more, the truck, in disguised form, completed all 883 miles of the Baja 1000.

Ford recalls Explorer and Lincoln MKC for fire hazard

The Basics: Ford will recall 5,536 examples of the 2016 Explorer and 2015-2016 Lincoln MKC. The Explorers have build dates between October 20, 2014, and January 28, 2016, at the Chicago Assembly Plant. The MKCs are from between November 25, 2013, and January 25, 2016, at the Louisville Assembly Plant. In total, there are 3,129 total affected examples of the 2015-2016 Lincoln MKC and 2,407 examples of the 2016 Ford Explorer. Of these, 1,543 are in the US and 3,993 are in Canada. The Problem: The combination of the engine block design and the block heater in these vehicles can cause the part to overheat when plugged in. Injuries/Deaths: None reported, but there are two cases of underhood fires in Canada. If you own one: Ford will begin notifying owners during the week of May 16, company spokesperson John Cangany tells Autoblog. Related Video: Ford issues safety recall for certain 2015-2016 Lincoln MKC and 2016 Ford Explorer vehicles to replace engine block heaters Ford is issuing a safety recall for approximately 5,500 2015-2016 Lincoln MKC and 2016 Ford Explorer vehicles to remove the heaters and replace them with an updated design. The engine block design, coupled with the particular block heater installed in these vehicles, causes the unit to be susceptible to overheating when the vehicle is parked and the block heater is plugged in –increasing the risk of an underhood fire. Ford is aware of two reports of underhood fires in Canada, but is not aware of any accidents or injuries related to this issue. Affected vehicles include certain 2015-2016 Lincoln MKC vehicles built at Louisville Assembly Plant, Nov. 25, 2013 through Jan. 25, 2016 and certain 2016 Ford Explorer vehicles built at Chicago Assembly Plant, Oct. 20, 2014 through Jan. 28, 2016. There are 5,536 vehicles affected by the issue, including 3,129 2015-2016 Lincoln MKC and 2,407 2016 Ford Explorer vehicles, with 1,543 of the affected vehicles in the United States and federalized territories and 3,993 in Canada. Dealers will remove and replace the engine block heater with an updated design and, if needed, replace the cord at no cost to the customer.