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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

Swedish car mag says Ford Mondeo is dangerously, illegally overweight [w/video]

Sweden's Teknikens Varld has a reputation for being very persnickety when it comes to auto safety testing, and its latest catch is the Mondeo Titanium Estate 2.0 TDCi 150 bhp S6 MPS (basically a station wagon variant of the Fusion). In addition to the model's mile-long name, it has another problem according to the Swedes, because its weight on the scales does not equal the official numbers for the vehicle. Teknikens Varld claims the wagon is dangerously overweight because it weighs in 4,145 pounds, while Ford officially lists its weight at 3,530 pounds. That 615-pound disparity means that if a family loads it to what they think is the model's gross vehicle weight, it will actually be too heavy, and therefore illegal to drive in Sweden. According to the magazine, when it tried doing this, the rear wheels scraped against the wells, and the estate failed the mag's legendary moose test. However, at 220 pounds over the limit, it passed the test. When reached for comment by Autoblog, Jay Ward, Senior Manager at Ford of Europe Product Communications, explained the reason for the deviation between the official numbers and the magazine's test: "We are aware of this, but this is not an issue that relates specifically to the safety of the Mondeo, but is in fact related to the way in which the cars are tested by the authorities. We provided an Ambiente model for the testing but the car that featured in the magazine test was a Titanium model which has a different weight. We are in discussion with the Swedish Transport Agency to change the framework so the real weight of the Titanium model is reported instead of the Ambiente model which will resolve the issue." Teknikens Varld is well-known for calling out automakers for perceived transgressions. Most recently it leveled criticisms against the all-wheel drive system in the Honda CR-V, and both the Jeep Grand Cherokee and Porsche Macan failed its moose test. Scroll down for the magazine's video of weighing the Mondeo Estate and the model's test results. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The new Ford Mondeo is dangerously overweight The new Ford Mondeo is a great car, which Teknikens Varld's test shows, but there is one problem – the weight. Mondeo weighs 279 kg more than Ford claims. With big load (ie family plus luggage) the car therefore becomes illegal to drive.

Ford confirms Everest SUV production for China

According to Ford, the Chinese SUV segment grew by 49 percent in 2013, and the Blue Oval held a 4.5 percent market share. At the 2014 Beijing Motor Show, Ford is showing the Everest SUV that, while just a concept for now, will go into production in the near future.
The Everest is a big, brawny seven-seat SUV that mixes solid, chiseled styling and contemporary Ford design cues. Up front there is an angular version of the trapezoidal grille and sharp, wraparound headlights. The beltline rises in the rear to make the back appear higher than the front. The rear seems just as chiseled, with the taillights resting in jagged scallops. There is no doubt that this concept means to look rugged, and ready for rough roads - the whole thing looks pretty great.
The truck was penned by Ford's Asia Pacific design and engineering team in Australia, and it was first shown in Sydney last year. Ford's JMC joint venture will build the truck for the Chinese market, and it will be sold at Ford dealers there. The Blue Oval isn't hinting at what powers the production version yet, but it reportedly shares some components with the foreign-market Ranger.