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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

2020 Lincoln Aviator 450-hp PHEV will get its own exterior visual cues

Lincoln will brand its powerful plug-in version of the new Aviator crossover as a GT hybrid package with a few distinguishing visual cues when it goes on sale next summer. The luxury PHEV crossover will do battle with competitors like the Porsche Cayenne E-Hybrid, Volvo XC90 T8 and BMW's (incredibly long-winded) X5 xDrive45e iPerformance. The "GT" designation harkens to the golden era of grand touring and is meant to convey the combination of high performance and comfort over long distances. "It's really trying to get at how Lincoln is redefining luxury performance," said Brad Jager, the Aviator brand manager. The hybrid system will deliver 450 horsepower and a whopping 600 pound-feet of torque, which are increases of 50 hp and 200 lb-ft over the pure combustion version powered by a twin-turbo 3.0-liter V6. Lincoln isn't releasing expected electric-only range or fuel economy, and it's keeping most of the details of the hybrid system under wraps for now. It has said you'll also be able to hold the charge to be deployed later, such as for short trips in town. Lincoln is, however, making a few subtle exterior changes to designate the GT hybrid setup, which will be offered in the higher-end GT and Black Label trim models (the entry-level Aviator and Reserve models will be available only in gasoline combustion versions). First are changes to the Lincoln star badge on the grille and Aviator badge on the side flanks, which fill in with a blue color borrowed from the original Lincoln V12 badge from the 1930s and '40s — a neat touch on a vehicle that is reviving a nameplate. The grille itself is also an inversion of the new Lincoln treatment appearing on models like the Navigator and Nautilus. So where the grilles on those models have cutouts, the GT hybrid grille has protruding shapes that dissipate the further away they are from the center badge. Lastly, the PHEV will come with 21-inch wheels instead of the 22-inchers that equip non-hybrid versions. Lincoln says it designed the rear-wheel-drive architecture with the Aviator in mind, allowing the battery to go underneath the passenger-side second-row seats and maximizing interior space. Engineers also fit an electric motor between the V6 engine and the 10-speed automatic transmission. Lincoln hasn't announced pricing on the Aviator, which goes on sale next summer, and the plug-in hybrid versions will obviously command a premium.

2017-19 Ford Super Duty trucks recalled for tailgates that could open

Ford announced two separate recalls today, though neither has resulted in any known injuries. The first recall, which deals with a tailgate malfunction, affects 261,617 examples of 2017-2019 F-250, F-350, and F-450 Super Duty pickups. The second, which anticipates the possibility of a fuel leak, affects 3,893 units of 2020 Explorer and 2020 Lincoln Aviator SUVs with 3.0-liter engines. Ford says tailgates might accidentally open on some 2017-2019 Super Duty trucks because of a short circuit. If the pickups have an electric tailgate latch-release switch on the tailgate handle, water might get into the wiring. If the water hits the right spots, a short circuit could cause the switch to release the tailgate latch. In a worst-case scenario where the tailgate opens while driving, contents of the truck's bed could fall out and create a safety hazard. Dealerships will fix the problem by modifying the tailgate frame wiring harnesses with jumper pigtails and install a new tailgate handle release switch. Of the lot, 231,664 trucks are in the U.S., and 29,953 are in Canada. The Ford recall number is 19S48.  The second recall is much smaller, involving fewer than 4,000 vehicles. In certain 2020 Explorers and Aviators with 3.0-liter engines, Ford says, "The convolute protective sleeve on the liquid fuel line is not long enough, which may allow for potential hard contact with the convolute-protected vapor fuel line. Over time, with vibration and engine roll, hard contact between the two fuel lines could cause the convolute on the vapor fuel line to rub through the plastic liquid fuel line." If that happens, it could be a fire risk and hazardous for drivers and passengers. Only 35 of those SUVs are in Canada, and the rest are in the United States. Dealers will fix the problem by replacing the defective convolute with a full-length piece and tying it down with a strap. The recall reference number for the Aviators and Explorers is 19S49. The recall adds to what has otherwise been a rocky early production phase for the new Explorers and Aviators.