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Ford shareholders happy as the Blue Oval stays in the black

Ford posted slightly falling global sales and revenue in its first-quarter financial announcement, but pre-tax profits and operating margins were up. Apparently, that was plenty to keep shareholders happy, though. The Blue Oval's recent investor meeting in Delaware lasted less than an hour, and a vote on the approval of the board passed by over 93 percent. Ford CEO Mark Fields continued to predict a strong year financially and increasing profits, according to the Detroit Free Press. The growth comes thanks in large part to the company's 24 global vehicle launches last year and 15 more this year. The likelihood of significant profits from the strong-selling 2015 F-150 should be especially lucrative, too. In the Q1 announcement, the Blue Oval forecast pre-tax profits between $8.5 billion and $9.5 billion for 2015. During the meeting, Fields said that the next 15 years of changes in the industry represent the "ultimate opportunity as a company. As big as when Henry Ford put the world on wheels more than 100 years ago," according to the Free Press. Investments like the expanded technology center in Silicon Valley should push that work along. Related Video:

2018 Woodward Dream Cruise: What to know and where to go

If there's anything that proves Detroit's motor-oil-in-the-veins, gearhead bonafides, it's the annual Woodward Dream Cruise, which will bring an anticipated 1.5 million or so people from near and far, plus tens of thousands of classic and custom and just plain weird cars, to a 16-mile portion of Woodward Avenue on Saturday for the 24th year. Loved by gearheads, collectors and the merely curious, who see it as the Motor City's version of Mardi Gras, and loathed by others, who deride it as the world's largest traffic jam, the Dream Cruise is nothing if not an explosion for the senses. What will you see there? Well, as Autoblog Managing Editor Greg Rasa put it last year, "There are historic cars. And works of art. Some are worth vast sums of money, and some are rat rods and rust buckets. And some are bizarre creations that make you ask, 'What were they thinking?'" A few things are certain: You will see many incredible automobiles. There will be plenty of T-shirts and other merch, official and not-so-much. It will be crowded, and probably hot. The Cruise will officially go from 9 a.m. to 9 p.m., though of course cruisers have been out already for weeks. And there are plenty of attractions, both on and off the pavement of Woodward. Tony Michaels, the Dream Cruise's executive director, said the event is special for the Detroit region. "Together we celebrate the automobile and what it has meant to us," he told Autoblog. "To see the these fantastic vehicles and the proud owners says so much about who we are and our pride. "People should take it in to see history running 16 miles down Woodward Avenue and to be a part of the greatest automobile event in America." Ford is once again serving as the Dream Cruise presenting sponsor and will hold the 20th anniversary of the Mustang Alley at the corner of Nine Mile and Woodward in Ferndale, where it expects as many as 1,000 Mustangs to line up. It will also show off its lineage of trucks at 13 Mile, along with several performance vehicles at Duggan's Irish Pub at 31501 Woodward in Royal Oak. The company on Thursday unveiled the 2018 Mustang Cobra Jet drag car to celebrate the nameplate's 50th anniversary. Just 68 examples are planned of the $130,000 limited-edition model Other Ford activities include: Sales of tickets for a raffle of a one-off Kona Blue Mustang Bullitt, starting at the media clubhouse at 2 p.m. Friday. The raffle itself takes place in November and will support juvenile diabetes research.

Ford investing $2.5 billion in two new plants in Mexico

Automobile production keeps ramping up in Mexico. Last week alone, Toyota announced a new plant it's building south of the border, and news broke that Hyundai is looking into the same. Now Ford has announced a multi-billion-dollar initiative that will see it building two new facilities in Mexico, as well. Though neither will be a final assembly plant, both promise to break new ground for the automotive industry in Mexico – at least as far as Ford is concerned. The first is a new engine facility to be built at Ford's existing plant in Chihuahua. The fruit of a $1.1-billion investment will see the Blue Oval produce new gasoline engines for use in North America, South America and Asia-Pacific, creating 1,300 new jobs in the process. Ford will also be investing another $200 million to expand its inline-four and diesel engine production lines at the same plant. The move will create another 500 new jobs and make Ford's Chihuahua engine plant the largest in Mexico, according to the company's press release. Ford has also announced the building of its first transmission facility in Mexico, to be constructed within Getrag's plant in Irapuato in the state of Guanajuato. The $1.2-billion investment will create 2,000 new jobs and be charged with exporting two new automatic transmissions to markets around the world. The announcement comes on the 90th anniversary of Ford's presence in Mexico, dating back to 1925. Currently the company produces the Fiesta, Fusion and Lincoln MKZ in Mexico, as well as numerous Duratec and diesel engines. Related Video: FORD ANNOUNCES $2.5 BILLION USD INVESTMENT FOR NEW ENGINE, TRANSMISSION PLANTS IN MEXICO - Ford is investing $2.5 billion USD in new engine and transmission plants in the Mexican states of Chihuahua and Guanajuato, respectively - Approximately 3,800 direct jobs will be generated through three projects – a new engine plant in Chihuahua, expansion of Ford's I-4 and diesel engine lines in Chihuahua and a new transmission plant – Ford's first in Mexico – in Guanajuato - The investment is part of the company's One Ford plan, which emphasizes global competitiveness. The news comes as Ford celebrates its 90thyear in Mexico Further building its lineup of increasingly fuel-efficient engines and transmissions, Ford today announced a $2.5 billion investment in two new facilities building a new generation of engines and transmissions in the states of Chihuahua and Guanjuato, respectively.