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Ford Recalling 70k Escape and Mariner Hybrids for cooling issue

Ford is recalling about 70,209 examples of the 2005-2008 Ford Escape Hybrid and the 2006-2008 Mercury Mariner Hybrid because the cooling pumps for their hybrid systems could fail.
According to the company's defect notice, it's possible for the original "Motor Electronics Coolant (MEC) Pump" to wear out and fail, which would could cause the hybrid system to overheat. If this happens, the vehicle goes into a safety mode that takes away most or all of its power. However, braking and steering still operate normally. After cooling down, the affected models restart normally. The company says that it's not aware of any accidents or injuries related to this problem.
Ford will begin repairing the vehicles in late October, and dealers will be installing improved, brushless pumps on the affected models at no charge to owners. If drivers had their pumps fail before this recall, they can contact Ford for a possible reimbursement. Scroll down to read the recall announcement from the National Highway Traffic Safety Administration or download the full defect notice as a PDF, here.

Enterprise working with renter's insurance to cover $47k Mustang stolen from its lot

There was more than a bit of public indigence following the recent story of Enterprise Rent-A-Car billing a customer $47,000 to replace a Ford Mustang GT Convertible stolen from a Nova Scotia lot. To recap: Kristen Cockerill rented the Mustang for two days, returned it to the lot on a Sunday and left the keys in a secure dropbox only for Enterprise employees to find the car gone the next day.
Despite Enterprise policies stating that customers are responsible for vehicles dropped on off-days, the company has admitted that the situation could've been handled a bit better.
In a recent statement, Enterprise has backed off the big-bill story, and claims to be working with Cockerill and her insurance company to resolve the issue. Further, the Enterprise general manager overseeing Nova Scotia has spoken with the harried renter, and apologized "for the way this claim was handled during the last few months."

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