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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 more than 550,000 trucks and SUVs for various safety issues

Ford announced safety recalls for its current F-150 pickup along with several Ford and Lincoln crossovers early Wednesday. The recalls cover more than 550,000 vehicles and address various safety defects, ranging from a fire hazard to potential loss of braking power.  The most far-reaching of the recalls covers approximately 550,000 examples of the 2015-2018 Ford Edge and 2016-2018 Lincoln MKX, which may have been assembled with defective front brake jounce hoses (also commonly referred to as "flex lines"). These hoses run from fixed points on the chassis to the individual front brake calipers. Defective hoses could potentially rupture, allowing brake fluid to leak and resulting in a loss of braking function. Ford will replace the components in question with revised parts.  The next-largest recall is for roughly 3,000 2020 Lincoln Corsair crossovers. The affected models may have been assembled without proper clearance between their rear suspension springs and toe link brackets. The components could potentially make contact, wearing down the protective coating on the rear coil springs, allowing corrosion to occur over time. This corrosion could eventually lead to a failure of the spring. If this happens while the vehicle is being driven, it could result in a sudden change to the vehicle's handling characteristics, and the spring fragments could potentially cause further damage to the car or surrounding traffic.  Ford says owners will be notified that their Corsairs need to be inspected; if there is not adequate clearance between the rear suspension components, Ford's service technicians will remove material from the toe link bracket to allow for operation without contact.  The final (and by far the smallest) recall is for the 2020 F-150. Some units may have left the factory with the incorrect retention nut on the hot lead to the starter motor. Ford says it can cause increased heat generation or electrical arcing, which could potentially result in a fire. Ford says this issue is limited to just a few hundred examples sold in the United States. Dealers will inspect the vehicles and replace the nut if necessary.       

2020 Lincoln Corsair First Drive | Compact 'American luxury'

SAN FRANCISCO — Lincoln almost left the building. Word is that former Ford CEO Alan Mullaly, who had come from the airline business and did not have any special affection for historically significant auto brands, was ready to kill off Lincoln after Ford divested itself of its European luxury portfolio. Other Ford executives were able to persuade him to keep it, but then had to come up with a way to make the division relevant. Selling warmed-over Fords wouldnÂ’t cut it going forward, and attempting to emulate the Germans (as Cadillac has tried to do) didnÂ’t seem viable. It was decided Lincoln would proffer “American luxury,” but what did that mean? The 2020 Lincoln Corsair is the latest answer to that question. Like its preceding bigger siblings, the Navigator and Aviator, it offers true design differentiation from Ford with a look all LincolnÂ’s own, and an emphasis not just on luxury features but a better ownership experience. Proper names are back too, which is why we're reviewing the "Corsair" and not the second-generation MKC. Like that predecessor, the Corsair shares its architecture with the Ford Escape, albeit the all-new version. Despite their common bones, none of the body panels are the same. Instead, the look is right at home with the brandÂ’s larger SUVs, featuring many of the same styling cues that include the now-familiar Lincoln grille, gently tapered roofline, blacked out pillars and long, slim taillights  The Corsair has more sculpted flanks and a more pronounced shoulder, but the resemblance to the Aviator in particular is strong, and it's no surprise that both SUVs were penned by the same man: Kemal Curic, who has now ascended to the head design spot at Lincoln. Compared to the MKC, overall length is 1.4 inches greater, the wheelbase is 0.8 inch longer, and the vehicle is 1.1 inches lower. That puts the CorsairÂ’s exterior dimensions between the Audi Q3 and Q5 or the BMW X1 and X3. Its closest dimensional doppelganger is the Cadillac XT4, which will likely be its closest rival. The CorsairÂ’s interior echoes the exterior design with a horizontal theme that makes the cabin feel bigger. Vents stretch across the dash, and above them (in the Reserve model) is an inset band of striped silver metallic trim. The center stack floats above the console, making for an airier environment and leaving room for additional stowage, which is plentiful.