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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 Ford Explorer nabs IIHS Top Safety Pick+ rating after updates

The 2020 Ford Explorer has been named a Top Safety Pick+ by the Insurance Institute for Highway Safety, the agency's best rating. The redesigned Explorer initially fell short of that mark, however, only making the grade after Ford introduced a running change to the vehicle's design starting in May 2020 — a change made to the 2020 Lincoln Aviator as well. To achieve a Top Safety Pick+ award, a vehicle must have a Good performance rating in all six of the agency's crash tests. It also must have Acceptable or better ratings for all of its available headlamps and must earn Advanced or Superior ratings for its automated collision avoidance systems in tests of their performance against pedestrians and other vehicles. The 2020 Explorer initially achieved only an Acceptable performance in the IIHS's driver's-side small-overlap crash test, as the agency found a risk of injury to the driver's left foot due to intrusion into the footwell. Ford subsequently modified the design of the front subframe in a running change to Explorers and to Lincoln Aviators built after May 2020. The modified Explorer was re-tested, and this time the model achieved a Good performance in the driver's small-overlap test. That, combined with a Superior performance in both tests of the standard collision-avoidance system plus Acceptable ratings for both headlight systems, pushed the 2020 Explorer over the goal line to Top Safety Pick+. The Aviator, which shares the Explorer's platform, has received the same modification and achieves the same crashworthiness ratings. However, its standard headlights are judged Marginal, and therefore the 2020 Aviator achieves only the Top Safety Pick rating (even though its optional curve-adaptive LED headlights are judged Good). Related Video:

Ford announces free brake pad offer if customers stop by dealers

These days, when you buy a new car, it's not unreasonable to expect a certain period of free maintenance to come along as well. Sometimes this is through the life of the warranty, in other cases a little less. But Ford Motor Company is going beyond those deals for at least one part of its cars. As of now, if you buy a set of Motorcraft brake pads for a Ford, Lincoln or Mercury model, you get free replacements for as long as you own the vehicle. The offer is good at Ford or Lincoln dealers and Quick Lane Tire & Auto Centers.
"We will replace the pads for as long as you own the vehicle," said Elizabeth Weigandt to Autoblog. She did clarify that the Motorcraft pads are generally for models from the '90s or newer. Also, to take advantage of this program, a person must return to the same dealer each time to get the free parts.
Of course, Ford isn't just handing out brake pads to anyone who walks by; there are certain stipulations. First, the components have to be worn down to less than three millimeters to be eligible, and the buyer still has to pay for the labor to install them. If the model is used as a fleet vehicle for commercial purposes like as a taxi or limousine, this offer also doesn't apply; the same thing for racecars. On the plus side, if you recently bought a set of pads from one of the participating locations, you're still in luck. The deal covers parts purchased as of July 1.