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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

2018 Lincoln Navigator Black Label Drivers' Notes Review | American luxury

For years, the Lincoln Navigator played second fiddle to the Cadillac Escalade. Even with a refresh a few years back, the big ute couldn't quite match what Cadillac (or anyone else in the class) offered. The design looked dated, and the interior felt a full generation behind. Things sure have changed, as the new Navigator might just be the first Lincoln in years that gets near-universal praise from the Autoblog staff. This class of SUV may not be everyone's cup of tea, but Lincoln deserves credit for doing more than just phoning it in. Our tester this week is a Chroma Crystal Blue short-wheelbase Navigator Black Label. That's the top-trim model, so features like heated and ventilated leather seating, full-LED lighting, a panoramic moonroof, a 20-speaker audio system and adaptive suspension are all standard. The only options on our 2018 model were the $1,750 paint and the $1,250 perfect-position seats. At $98,320, it isn't cheap, but it's right on the mark for the segment. Editor-in-Chief Greg Migliore: The Lincoln Navigator is a demonstrative improvement in luxury, power and design. It's more sophisticated and elegant than ever before, but it remains true to itself. The interior is gorgeous — the best-looking cabin I've ever seen in a Navigator — and it's the best in the segment. The Cadillac Escalade, which is still great but is due for a freshening, feels dated and less user-friendly inside, by comparison. Our Navigator, outfitted in the Black Label trim, looks like something out of a 1960s Camelot photo spread. The powder blue materials remind me of old pictures of Jackie Kennedy. The way the Lincoln crest appears above the glovebox also feels very Jet Age. The knobs, switches and buttons for the controls add to the retro look, but they're also tactile and functional. People don't want to navigate four touchscreens to adjust the heat. Lincoln and other carmakers are wisely going back to simplicity for interior features. That being said, the interior has all the modern features and amenities you would expect. Sync 3 is solid. The large touchscreen is easy to read and use. It's colorful and intuitive. Finally, it's a Sync system I can get on board with. The seats are comfortable, supportive, and the front ones can be positioned 30 different ways. There's so much variety I never found the perfect spot in my two nights in the Navigator. The exterior touches from the most recent redesign accentuate the Navigator's luxurious feel.

Lincoln cancels plan to build electric vehicle on Rivian's platform

Just three months ago, Lincoln announced a project to build a vehicle atop Rivian’s skateboard platform. Today, itÂ’s canceling those plans. Automotive News originally reported the news, and a Lincoln spokesperson confirmed it to us. Lincoln reportedly informed dealers of its decision to cancel the electric project earlier today, citing the “current environment.” Language like that these days in the automotive industry refers to the coronavirus pandemic and flailing vehicle sales. Originally, Lincoln announced that this model would launch in 2022. It was to be built using the same platform underpinning the Rivian R1S and R1T. The partnership with Rivian was so close that this Lincoln was going to be built at RivianÂ’s Normal, IL assembly plant. Production of the plant itself was halted recently in the face of the coronavirus, which is bad news for any products meant to be built there in the near future. Lincoln never announced that this vehicle was going to be an SUV, but that was the likely result of it using RivianÂ’s platform designed for rugged and large utility vehicles. However, Lincoln says it still has plans to build an electric vehicle. The companyÂ’s statement follows: “Given the current environment, Lincoln and Rivian have decided not to pursue the development of a fully electric vehicle based on RivianÂ’s skateboard platform. Our strategic commitment to Lincoln, Rivian and electrification remains unchanged and LincolnÂ’s future plans will include an all-electric vehicle consistent with its Quiet Flight DNA.” Lincoln hasnÂ’t specified any product details or timing for when this mystery electric vehicle will launch. It could be based off the Mustang Mach-E platform, or it could be a larger vehicle based off the future electric F-150 platform. The former could launch sooner, while the latter is likely a little ways out still. Lincoln doesnÂ’t want this news to be read as a loosening of ties between itself and Rivian either. “Our partnership with Rivian is strong,” LincolnÂ’s statement reads. “While the Lincoln electric vehicle did not turn out to be the right opportunity, we continue to work closely together with Rivian. Our strategic commitment remains unchanged and we will continue to work with Rivian on an alternative vehicle based on RivianÂ’s skateboard platform.” As of now, Lincoln hasnÂ’t revealed exactly what didnÂ’t line up to make the planned collaboration work.