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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

Ford reveals new Ranger Wildtrak across the Pacific

Want to get your hands on a new Ranger? Ford doesn't offer it here anymore, so you'll have to travel (or relocate) to somewhere it does. Like Bangkok, Thailand, where it just unveiled the new Ranger Wildtrak. Based on the updated Ranger revealed just a few months ago, the new Wildtrak features a more, shall we say, vibrant design as the flagship of the Ranger range. Dark metallic gray accents the nose, mirrors, door handles, air vents, bed rails, and tail lamps for a sportier, more rugged look. It's also got a contrasting hoop at the junction of cab and bed, rectangular fog lamps, 18-inch alloys, and Wildtrak graphics to set it apart from "lesser" Rangers. And the interior has been enhanced as well with all the upgrades applied to the standard model along with sportier trim. Everything else carries over from the standard model, including the diesel powertrain, full suite of the latest electronic assists, and go-anywhere capability. It'll ford (suitably enough) through water over 31 inches deep, clear nine inches above the ground and tow over 7,700 pounds. If you want to know more, you can scope out all the details in the press release below - or better yet, book a flight across the Pacific and see for yourself. 10 JUN 2558 | BANGKOK, THAILAND FORD UNVEILS THE ULTIMATE NEW RANGER; WILDTRAK READY TO TAKE ON THE WORLD WITH BOLD DESIGN, SMART TECHNOLOGY - Aggressive, distinctive design and unique features help new Ranger Wildtrak stand apart from the crowd Striking, modern, car-like interior underscores technological capabilities and adds to premium, sporty feel - Wildtrak boasts full array of smart features, including SYNC 2 connectivity, Lane Keeping Aid, Adaptive Cruise Control, Forward Collision Alert, Driver Impairment Monitor and Front and Rear Parking Sensors - World-beating capabilities, including robust electronically controlled transfer case, class-leading 800 mm water-wading capability and 230 mm ground clearance ensure new Wildtrak is up for any adventure - Improved ride and powerful, efficient 3.2-liter latest-generation Duratorq diesel engine help to deliver on Ford's fun-to-drive promise The new Ranger Wildtrak, the ultimate model in the Ford Ranger line-up, makes its global debut today, ready to take on the world with a new array of smart technologies and an even bolder look for one of the world's toughest and most capable trucks.

Ford launches mobile coronavirus test program with partners

For its latest coronavirus act, Ford has joined forces with a Detroit university, its affiliated physicians group and an Arab-American human services nonprofit to launch a mobile Covid-19 testing program for symptomatic first responders, health care workers and corrections officers in Michigan. Since Monday, Ford has been supplying Lincoln Navigators and drivers from the Lincoln Personal Driver pilot service, both offered through its Ford X in-house incubator. They’re equipped with tents, sanitation, power and Wi-Fi. Partners Wayne State University, the Wayne State University Physician Group and Dearborn-based ACCESS are providing staff and medical kits. The program is billed as an extension of drive-through testing sites operating in Detroit and Dearborn, but capable instead of bringing testing to locations and people who lack access to it. The mobile Navigator test vehicles will be capable of testing up to 100 people per day at no cost, with results returned within 24 to 36 hours. Testing will start at sites in southeast Michigan and then branch out to other parts of the state, including Battle Creek, Lansing and Grand Rapids. Michigan has been a major epicenter of the coronavirus outbreak in the U.S., with 27,001 confirmed cases and 1,768 deaths as of the most current data from Tuesday. The state has been under a stay-at-home order since March 23. With its factories remaining temporarily idled for vehicle production, Ford has kept busy branching out into the fight against the novel coronavirus on multiple fronts. It kicked off production of a waist-mounted, powered air-purifying respirator it designed with 3M on Tuesday, and it plans to begin building ventilators at a plant in Michigan next week. Earlier this week, Ford announced it was helping a supplier that makes airbags use the material instead for reusable medical gowns for health care workers. Employees are also manufacturing protective face masks at its Van Dyke Transmission Plant, plastic face shields at a subsidiary near Detroit and helping a medical device company ramp up production of Covid-19 field testing kits. Related Video:     Ford Lincoln SUV