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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

2021 Cadillac Escalade vs. 2020 Lincoln Navigator | How they compare on paper

The 2021 Cadillac Escalade arrived late last night, and we all know what that means: It’s comparison time. Specifically, weÂ’re pitting the new Escalade versus the 2020 Lincoln Navigator. The sales gap between the long-time competitors has grown dangerously close for Cadillac ever since the revolutionary new Navigator came out for the 2018 model year. In 2019, the Navigator was only about 4,000 units down from the Escalade. Cadillac intends to widen that gap back up with a new truck, and now itÂ’s time to see if itÂ’s brought the right goods to the party. With the redesigned model that now features an independent rear suspension, these two are more alike than theyÂ’ve been in a long time. The Escalade was stuck with the less space-efficient solid rear end up until now, as GM hadnÂ’t yet made the switch to IRS that Ford long-ago did. Now that it has, these two are super similar from a dimensions perspective. Cadillac was playing catch-up in this fight, so it knew exactly where it needed to aim to come out victorious in a specs battle such as this one. A quick note on the chart below. Both of these models have a “regular” and “long” version. The EscaladeÂ’s long variant is still named ESV, and the NavigatorÂ’s long version is simply named L. In the dimensions section, we distinguish between the two with a “/” — the “regular” length version is on the left, and the “long” version is on the right side of the slash. The numbers are below: Powertrain The Lincoln Navigator still reigns supreme when it comes to power, as the 3.5-liter twin-turbo V6 is high on both horsepower and torque. GMÂ’s small-block V8 comes close, but ultimately falls short by 30 horsepower and 50 pound-feet of torque to the twin-turbo V6. Cadillac does have an ace up its sleeve, though. It comes in the form of the 3.0-liter turbo-diesel inline-six engine. Lincoln hasnÂ’t dropped the PowerStroke diesel into the Navigator (and we'd be shocked if it does), so Cadillac has a unique offering in this segment now. The diesel will be optional on the Escalade, but it has less horsepower and the same amount of torque as the V8. We expect the big advantage for the diesel will come in fuel economy, an area where the Silverado Duramax diesel currently outpaces the full-size truck competition. Both of these big SUVs come standard with 10-speed automatic transmissions. Intriguingly, itÂ’s the 10-speed automatic that was co-developed between Ford and GM.

2015 Lincoln Navigator leaked ahead of tomorrow's reveal [UPDATE]

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