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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

Oprah at it again, gives car away on Jimmy Kimmel Live!

Oprah Winfrey loves giving away cars. Not only has she given Pontiac G6 sedans and Volkswagen Beetle retro-mobiles to everyone in the audience of her past show, but the other night on Jimmy Kimmel Live! she gave another car away to one lucky audience member, while yelling her now-famous line: "You get a car!"
Although the acting of Oprah and Jimmy Kimmel was obviously staged for this giveaway, the reaction from the woman in the audience was genuine shock as she found out that she had just won a new Ford Fusion Energi. Congrats!
Not to take away from what Oprah and Jimmy pulled off, but our cynical sides have to wonder if there isn't more than just a little coincidence that this giveaway took place on the same day that Ford announced a fuel economy reduction for the C-Max hybrid. You be the judge... Scroll down to watch the short clip from the episode.

2015 Ford F-150 brings big aluminum to the Rust Belt [w/video]

Just when you thought you'd figured the fullsize truck market out, Ford goes and throws us a massive curve ball with the 2015 F-150. The big headline news aren't tow or payload ratings, though we're sure those figures will be fully competitive if not class leading, they haven't yet been announced. Instead, the big headline news Ford is highlighting are the truck's new aluminum-intensive structure and 2.7-liter EcoBoost V6 engine.
And with good reason - all that aluminum means that Ford was able to cut a massive 700 pounds from the truck's curb weight. That is going to cause all sorts of great things to happen to the 2015 F-150's driving dynamics, performance and fuel efficiency, not to mention its ability to haul heavy loads. For those customers worried about the strength of aluminum versus the more conventional steel, Ford is quick to point out that many military vehicles, such as the HMMWV and Bradley Fighting Vehicle, use a very similar sort of aluminum alloy in their construction.
It's also worth mentioning that the backbone, a fully boxed ladder frame, is hewn from high-strength steel. Ford says "2015 Ford F-150 is the strongest and most durable F-150 ever," for what it's worth, claiming that "torture tested" in labs and in the real world for more than 10 million miles. What's more, the truck, in disguised form, completed all 883 miles of the Baja 1000.