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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

Lincoln MKC prototype spied out testing

As was the case with the Lincoln MKZ, it appears that Lincoln isn't wasting any time getting its newest model transformed from concept to production form. We just saw the MKC Concept earlier this year at the Detroit Auto Show, and based on these spy shots, it looks like the final touches are being put in place for the 2014 Lincoln MKC crossover.
Sharing its platform with the Ford Escape, we can definitely see some similarities between these two compact crossovers when it comes to the roofline and daylight opening, but through the heavy camouflage, Lincoln's signature split-wing grille can easily be seen and it looks like the concept's taillights will also make it to reality. On the disappointing side, it looks like the integrated exhaust outlets are being ditched for some round outlets, and we can't tell if the production version will keep the Audi-like clamshell rear liftgate.

Lincoln Continental prototype breaks down, requires a tow

Sometimes, cars break. Sometimes, said cars happen to be prototypes covered in camouflage. And sometimes, spy photographers are on hand to capture the sad sight. Such is the case here, as our trusty long-lenses have captured images of a stricken Lincoln Continental getting a tow back the shop. It's not clear what happened with the wounded Continental, but its unfortunate breakdown has given us a great look at the car's sprawling glass roof. Like the current MKZ, it looks like the Conti's panoramic roof can slide back, although we doubt it will cover up any element of the rear window, like its smaller sibling. And unlike our previous round of spy photos, this latest gallery gives us a look at a rather substantial set of integrated exhaust tips (i.e. fakes that have been fitted directly to the rear bumper cover). We can also spy a bit of the interior, although it's nowhere near as good as our last round of images. These shots do, however, show off a full roll cage and a fire extinguisher, but we wouldn't count on those being offered with the production model. Their presence here, though, leads us to believe that the car in question is probably some kind of vehicle dynamics tester. Look for a full introduction of the all-new Continental next month, when it debuts at the 2016 Detroit Auto Show. Related Video: