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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

Autoblog Minute: 2017 Ford F-Series Super Duty truck reveal

Competition in the heavy duty truck segment heats up as we get our first look at the 2017 Ford F-Series Super Duty lineup. Autoblog's Adam Morath reports on this edition of Autoblog Minute. With commentary from Autoblog's senior editor Greg Migliore and an interview with Doug Scott of Ford Motor Company. Update: This post has been updated to reflect that the entire Ford F-Series Super Duty lineup is new for 2017, not just the F-250 model. Show full video transcript text [00:00:00] Competition in the heavy duty truck segment heats up as we get our first look at the 2017 Ford F-Series Super Duty trucks. I'm Adam Morath and this is your Autoblog Minute. As Ford prepares to release its new Super Duty line to the American worker, we spoke with Doug Scott of Ford's Truck Group to find out what customers can expect from this latest super duty offering: [00:00:30] [Doug Scott Interview] For more on what the changes to Super Duty mean for the segment we go to Autoblog's Greg Migliore: [00:01:30] [Greg Migliore Interview] Will a larger cabin and increased towing capacity help these heavy duty trucks take off like the smaller F150? And, how will the other HD giants, Chevy, GMC, and Ram respond? Truck fans, be sure to sound off in the comments below. For Autoblog, I'm Adam Morath. [00:02:00] Show Logo Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals. Chevrolet Ford GMC RAM Truck Autoblog Minute Videos Original Video ford f-250 f-250 super duty

Project CARS 2 is coming

It's barely been a month since we released our review on Project CARS, and already, developers Slightly Mad Studios is preparing a sequel. It'll use the same crowd-funding formula that put together such a successful game this time around. The sequel was announced on the World of Mass Development portal, the same source of crowdfunding for the first Project CARS. Among the enhancements Slightly Mad is planning, there's the usual promise of more tracks and cars, but what we're really looking forward to is the news hidden in that promise. Project CARS 2 will boast bigger, more exciting forms of racing, including rallycross. In total, there will be over "50 unique locations and 200+ courses," "8 different disciplines," and "200+ cars from over 40 different vehicle classes including never-before-seen Concepts and Banned Race Cars." Yes, this all sounds very good. Project CARS 2 will also add a new customizable test track feature, and there will be an increased emphasis on both co-op and social gameplay and "skill and behavioral-based matchmaking" in online play. The crowdfunding campaign for the new title is currently underway, although it's unclear when we'll get a planned release date. As for our own wish list, it's remarkably short. We'd like a more fully fleshed out career mode, actual vehicle upgrades and customization options, and a genuine economy would be welcomed additions. Part of the fun of racing titles is working up the coin to acquire new and exciting cars. It's not that we mind full access to the game's entire roster of vehicles, we just wish that in the career mode, there was a bit more planning and challenge to getting ahold of new racers. In short, we want the best parts of Forza Motorsport with combined with the best parts of Project CARS. Oh, and if the frame-rate issues we experienced on the Xbox One could be sorted out too. What would you like to see included in Project CARS 2? Perhaps cleaner menus? A better soundtrack? Have your say down in Comments. Until then, check out the launch announcement over at WMD. Related Video: Featured Gallery Project CARS 2 News Source: World of Mass Development via Kotaku Toys/Games Ford Racing Vehicles video games xbox one playstation 4 project cars slightly mad studios