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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 650,000 trucks and SUVs for defective wipers

Ford announced earlier this month that it is recalling 652,996 F-Series pickups, Expeditions and Lincoln Navigators produced for the 2020 and 2021 model years to address an issue that may cause their windshield wipers to separate, reducing visibility and leading to potentially hazardous driving conditions.  According to the Blue Oval, one of its suppliers used worn tooling components that resulted in wiper arms being produced with splines that are not tall enough to fully engage the motor pivots they're mounted to, which can cause the connection to strip when the motors are turned on. This could result in the wiper arms not moving at all, or engaging only intermittently.  "Worn wiper arm spline tooling core inserts at the supplier resulted in insufficient spline tooth height, which can cause the arm attachment to strip when used with a certain wiper motors with higher torque," Ford said in its defect report to NHTSA. "Potential symptoms include erratic or slow wipe speed of the driver or passenger wiper arm. An improper functioning wiper arm may potentially result in reduced visibility in certain conditions, which could increase the risk of a crash." Ford says the vehicles were not produced in VIN order, so while not all of the nearly 653,000 vehicles have bad wiper arms, they're all suspect until proven safe. Ford will notify owners of the recall campaign starting in May.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Recalls Ford Lincoln Safety Truck SUV

Is this the production version of the Lincoln Zephyr concept?

Lincoln stepped out of the sedan segment when it ended production of the Continental in late 2020, but it's already planning a comeback. Leaked patent images suggest that the stylish Zephyr concept unveiled at the Shanghai show earlier in 2021 is well on its way to production. Uncovered by Japan's Sun News, the sketches show the outline of an elegant-looking sedan whose proportions match the Zephyr's almost perfectly. It's a three-box sedan with a long wheelbase and an almost fastback-like roof line. Some details tell us we're not merely looking at renderings of the concept, like more realistic headlights, redesigned air intakes in the front bumper, bigger door mirrors, and a reshaped rear bumper. These are the changes we'd expect Lincoln to make in order to turn the concept (pictured below) into a car it can build and sell. Lincoln Zephyr Reflection View 5 Photos Powertrain specifications were not leaked, though we're guessing the sedan will use turbocharged engines sourced from the Ford parts bin. Similarly, we don't know what it looks like inside; the concept's cabin featured a two-spoke steering wheel and an extra-wide screen. Just like the exterior design, the interior was futuristic enough to earn the "concept" label but not to the point where building it wouldn't be feasible. Lincoln hasn't commented on the patent images, but it has already confirmed plans to turn the Zephyr into a production car. The model is scheduled to make its official debut later in 2021, though there's a catch: It will exclusively be sold (and presumably built) in China. As of writing, nothing suggests the firm will add another sedan to its lineup in the United States, where demand for low-riding cars has crashed. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2022 Lincoln Navigator Black Label Inside and Out