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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

2020 Lincoln Aviator Review and Buying Guide | All-American sophistication

The new 2020 Lincoln Aviator lands into one of the hottest luxury segments – three-row family crossovers – and is not only an incredibly relevant product, but a fully competitive and appealing one too. It all starts with a uniquely characterful interior that's likely to earn the Aviator a fair share of takers by itself. Then there's the exterior styling, which is long and sleek with a tapered roofline courtesy of new rear-wheel-drive architecture developed in concert for the Aviator and also-new Ford Explorer. The two vehicles share common bones, but the skin and muscle are quite different. Emphasis on muscle, too, because the Aviator's powertrain options utterly blow away its competition (a 400-horsepower turbo V6 and the Grand Touring's 494-hp plug-in hybrid). However, despite those eye-popping performance numbers, don't expect the Aviator to be a firm-riding, sport-tuned SUV. All that power is there if you need it, but it's part of an overall competent, composed driving experience rather than one thatÂ’s tightly wound and over-caffeinated. Frankly, it's a recipe that should make a lot of sense to American luxury buyers. If you're looking for a big, luxurious family vehicle, put it on your shopping list. What's new for 2020? The Aviator is an all-new model that slots into a previously unfilled slot in the Lincoln lineup between the five-passenger Nautilus and full-size, truck-based Navigator. 2020 Lincoln Aviator Interior View 9 Photos What's the interior and in-car technology like? No other company's interiors look anything like the mid-century-inspired palace of cool you get in the Aviator. All versions are available with distinctive color schemes shown above, but the Black Label trim level stands out the most with its three available "themes" of "Chalet," "Flight" and "Destination" that get special colors and trim types. Perhaps the quality of some plastics and the fit-and-finish aren't up to Mercedes or BMW levels, but everything looks so special that it makes up whatever deficit exists. Most competitors just seem drab and generic by comparison. In terms of technology, every 2020 Aviator comes standard with a 10-inch touchscreen mounted so high on the dash and close to the driver that it actually seems larger. It runs the Lincoln-skinned version of Ford's Sync 3 interface, which is generally user friendly, though it perhaps doesn't look as cool and sophisticated as the all-digital gauge cluster (or the interfaces of rivals).

Ford workers vote to ratify new four-year UAW contract

DETROIT — The United Auto Workers union said on Friday that rank-and-file members at Ford have voted in favor of a new four-year labor contract with the No. 2 U.S. automaker. The UAW will now focus on Fiat Chrysler Automobiles (FCA), the sole remaining Detroit automaker without a new labor contract. Talks with FCA are expected to begin on Monday, a UAW spokesman said. The union said 56.3% of Ford's hourly workers voted to approve the deal, which allowed the company to avoid a strike like the one that cost its larger rival General Motors about $3 billion (GBP2.3 billion). UAW leaders said earlier this month that Ford under the deal agreed to invest more than $6 billion in its U.S. plants, and to create or retain more than 8,500 UAW jobs. The deal also includes pay raises and lump-sum payments over the life of the contract, a pathway to full-time employment for temporary employees and unchanged healthcare coverage. Workers at GM approved a deal in late October that ended a contentious 40-day U.S. strike, the longest automotive labor stoppage since 1970. Detailed terms of the Ford deal — released just a week after GM workers approved their new contract — echoed those agreed to with GM, as the union typically uses the first deal as a template for those that follow. UAW leaders managed contract negotiations with Ford and GM, including the lengthy strike, while struggling with an ongoing federal corruption probe. To date, 10 people have pleaded guilty in connection with the criminal investigation into illegal payoffs. Just last week former UAW vice president and former GM board member Joseph Ashton was charged with conspiracy to commit money laundering and wire fraud. Earlier this month the UAW said that its president, Gary Jones, who had been linked to the ongoing corruption probe, was taking a leave of absence. Rory Gamble, the union's acting head, said last week he will examine every department of the union in response to the spreading federal corruption probe to prevent future misuse of members' dues.