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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 recalling 850,000 cars and SUVs for airbag issues

Ford has announced a major recall of 850,000 vehicles from model years 2013 and 2014 due to a problem with the "restraints control module."
According to Ford, a short circuit could develop in the module, causing the airbag warning light to illuminate. In more severe cases, dependent on where the short develops, the airbags and seatbelt pre-tensioners may not work in the event of an accident. The problems can be more wide-ranging than that, too, as systems that rely on information from the control module, such as the stability control can be affected.
With 850,000 vehicles affected, it's no surprise that some of Ford's volume leaders are covered. That includes the Fusion and Lincoln MKZ sedans, as well as the incredibly recall-prone Escape and the C-Max MPV.

2022 Lincoln Navigator priced at just $5 more than last year

The 2022 Lincoln Navigator still isn't listed on the Lincoln site at the time of writing, but Ford Authority says it has a price — one you'll not be surprised to hear is higher than that of the 2021 Navigator. The 2022 Navigator Standard sets the baseline with an MSRP of $76,710, or $78,405 with destination, a trifle of an up-charge at just $5 more than last year's trim. After that, premiums for the tech and feature updates given to the new Navigator climb quickly except in the case of the lengthened Standard L in rear-wheel-drive guise. That trim comes down by $200 on its MSRP, going up overall by $200 because of the updated destination fee, totaling $81,400.    2022 Navigator prices and their differences from last year are: Standard: $78,405 ($5) Standard L: $81,400 ($200) Reserve: $89,100 ($4,955) Reserve L: $91,770 ($4,760) Standard 4WD: $81,405 ($735) Standard L 4WD: $84,400 ($530) Reserve 4WD: $91,440 ($1,760) Reserve L 4WD: $94,465 ($4,785) Black Label 4WD: $104,675 ($4,725) Black Label L 4WD: $107,720 ($4,570) All Navigators will benefit from Lincoln Enhance, the brand name for Lincoln's over-the-air software update capability, and the improved Amazon Alexa integration that can respond to more natural language. The substantial rises on the Reserve and Black Label trims pay for ActiveGlide and CoPilot360 2.0. ActiveGlide is the advanced driver assistance tech that allows hands-free highway driving if the right conditions are met (it's known as BlueCruise on Fords). Using adaptive cruise control with stop-and-go capability, lane centering and traffic sign recognition, the system can be activated on more than 130,000 miles of divided highways in North America. To help ensure hands-free doesn't turn into attention-free, ActiveGlide monitors the driverÂ’s head and eye positions with a driver-facing camera. Lincoln Co-Pilot360 2.0 bundles more ADAS like forward collision warning, pedestrian detection, and dynamic brake support, and for 2022 adds Intersection Assist and Active Sense Park Assist 2.0. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.