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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 fuel economy revealed

Ford finally revealed some of the last details, such as fuel economy, for the non-hybrid 2020 Explorer. So it's no surprise that its classier corporate twin, the 2020 Lincoln Aviator, has had its own fuel economy data released by the EPA. Though, like the Explorer, we only have information for the non-hybrid versions. The 2020 Lincoln Aviator has just two engine options, a base turbocharged 3.0-liter V6 with 400 horsepower and 400 pound-feet of torque, and the same engine coupled to a hybrid system with 450 horsepower and 600 pound-feet of torque. That base engine is the one we have fuel economy numbers for, and it's shared with the Ford Explorer ST, though the ST's version makes an extra 15 pound-feet of torque. With all-wheel drive it gets nearly the same fuel economy as the fast Ford with 17 mpg in the city, 24 on the highway and 20 in combined driving. The Explorer ST gets one more mpg in town. Unlike the Explorer ST, the Aviator does offer rear-wheel drive with this turbocharged V6. This model gets improved fuel economy of 18 in the city, 26 on the highway and 21 in combined driving. This isn't too surprising, since all-wheel-drive vehicles often do a little worse when it comes to fuel economy. We'll be especially curious as to how the Aviator hybrid performs. We doubt it will match the Ford Explorer hybrid, since that crossover relies on a less-powerful naturally aspirated 3.3-liter V6. But it might give the all-wheel-drive four-cylinder Explorer a run for its money, since the rear-drive V6 Aviator is only 1 to 2 mpg behind it. Related Video:

Two limos used by President John F. Kennedy are going up for auction

Two Lincoln limousines last used by President John F. Kennedy are being auctioned by Bonhams in New York. As reported by fordauthority.com, the cars are part of The American Presidential Experience sale. Neither Lincoln is the infamous open convertible in which Kennedy was assassinated in Dallas (that car is on display at The Henry Ford museum in Michigan), but one of these was used by the president on that fateful trip. The white 1963 Lincoln Continental convertible carried the President, Mrs. Kennedy, and Texas Governor John Connally, on the morning of November 22, 1963 in Fort Worth, Texas. They rode in this Lincoln from the Texas Hotel, where the President and Mrs. Kennedy had spent the night, to a breakfast where JFK gave a speech. From there, they drove through Fort Worth, on streets lined with crowds, to Carswell Air Force Base for the flight that would take them to Dallas. The car was a loaner from local dealer Bill Golightly, and was sold in 1964. It spent time in several different museum collections and has been partially restored, receiving a new engine and a repaint in its factory Ermine White. The red leather interior, however, is said to be original. The pre-sale estimate for this Lincoln is $300,000–$500,000. The second Lincoln is a 1960 Continental Mark V Executive Limousine. It was modified by Hess and Eisenhardt and features bulletproof doors, a divider window, a two-way telephone, and rear-seat climate controls. This car was leased to the White House and was used by President Kennedy for personal trips around Washington, as opposed to official trips for which the larger presidential limousine would be used. After President Johnson took office, this Lincoln returned to the Ford Motor Company and was purchased by a private individual who had a contact at Ford's Washington office. It, too, later spent time in various historical collections, and its body has been restored but the interior remains original. The pre-sale estimate is $200,000 to $300,000. History buffs who miss out on either of the cars might raise their paddles for some of the other items offered. There's a full-scale facsimile of the Oval Office, a partial fuselage of a Boeing 707 retrofitted as a replica of the Kennedy-era Air Force One, as well as numerous smaller items. The auction takes place on October 14.