1923 Ford T Bucket on 2040-cars

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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 recalls 200K Escape, Transit Connect models over instrument panel

Ford is announcing two new recalls that cover a total of 203,494 vehicles in North America. By far the larger of the campaigns is a recall for 203,445 examples of the 2014-2015 Escape and Transit Connect in North America. Specifically, there are 182,520 units recalled in the US, 18,226 in Canada, and 2,699 in Mexico. For these models, the instrument cluster, warning messages, lights, and chimes might not work at startup. This problem puts the vehicles out of compliance with the federal motor vehicle code, and the fix is a software update. The other recall is minuscule and only affects 49 units of the 2015 Transit that are owned by a single fleet customer. The company's vans have a specially ordered front passenger seatbelt, but the parts aren't labeled correctly under the federal code. Everything works properly, though, according to Ford. The fix is simply a new decal with the required info. No accidents or injuries are known to be related to either of these two recalls. Related Video: FORD ISSUES TWO SAFETY COMPLIANCE RECALLS IN NORTH AMERICA DEARBORN, Mich., June 24, 2015 – Ford is issuing two safety compliance recalls in North America. There are no accidents or injuries attributed to these conditions. Details are as follows: Ford issues safety compliance recall for certain 2014-2015 Transit Connect and Escape vehicles for instrument panel issue Ford Motor Company is issuing a safety compliance recall for approximately 203,500 2014-2015 Transit Connect and Escape vehicles in North America for an issue with the instrument panel cluster. When starting the vehicle, the instrument cluster, warning chimes, messages and warning lights may not work, which is a compliance issue with FMVSS 101 and other applicable FMVSS requirements. If these displays don't work as intended, it could increase the risk of a crash. Ford is not aware of any accidents or injuries associated with this issue. Affected vehicles include certain 2014-2015 Transit Connect vehicles built at Valencia Assembly Plant in Spain, May 13, 2014 to Dec. 10, 2014 and certain 2014-2015 Escape vehicles built at Louisville Assembly Plant, May 19, 2014 to Feb. 6, 2015. There are 203,445 vehicles in North America, including 182,520 in the United States and federalized territories, 18,226 in Canada and 2,699 in Mexico. Dealers will update the instrument panel cluster software at no cost to the customer.

Ford highlights new F-650 and F-750 with full-size Tonka show truck [w/videos]

Who among us hasn't been tempted by the prospect of buying a big yellow truck and painting the name Tonka along the side? Well apparently there were some folks over at Ford who were just as tempted, only they actually had the means to make that childhood fantasy a reality in the form of the truck you see here. Revealed at the NTEA Work Truck Show this week in Indianapolis, this Tonka show truck stands nearly 10 feet tall. It's painted bright yellow, just like the one you played with in the sand box (and probably still would given the opportunity and maybe no one else looking) and has a blacked-out nose treatment and special graphics. As you can see, it's also equipped with a working dump bed, and has a truly staggering 33,000-pound gross vehicle weight rating, built to showcase the Blue Oval's new line of medium duty trucks. Of course "medium duty" is a relative term, and the new F-750 is clearly a heavier piece of machinery than the company's own Super Duty pickups, but they're lighter-duty than a proper big rig. The new 2016 Ford F-650 and F-750 are just as tough as the models they replace, but they're now quieter and more comfortable to use. In fact, Ford says its 6.7-liter Power Stroke V8 diesel is now 25-percent quieter inside the cabin at highway speeds, 45-percent quieter at idle and 35-percent quieter standing outside in front of the grille. Ford notes that it's the only medium-duty truck manufacturer that makes its own engines and transmissions. That Power Stroke diesel comes with 270 horsepower and 675 pound-feet of torque as standard, but can be upgraded to 300 hp and 700 lb-ft or all the way up to 330 hp and 725 lb-ft. Commercial buyers will also be able to choose between Regular, Super and Crew Cab models with a straight-frame, dock-height or tractor-towing frames, meaning that whatever it is you've got to haul, chances are high that the new Ford F-650 and F-750 can be set up to get the job done.