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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 reveals MKC compact crossover ahead of LA debut [w/video]

It used to be that if you wanted a luxury SUV, you had to go big. Just look at the first high-riders released by some of the major luxury automakers - Audi Q7, Cadillac Escalade, Lexus LX - and you'll see what we mean. But since 2009 the small premium crossover segment has grown a whopping 200 percent, so it's no surprise that each has followed up with smaller luxury crossovers. And this is the latest.
At the other end of the utility spectrum from the Navigator, the new Lincoln MKC is based on the Ford Escape (much as the old pseudo-premium Mercury Mariner was), but completely rebodied and luxed up to put it in another league. Although we're still not sold on Lincoln's family fascia, the grille treatment on the MKC is certainly one of the better variations on the theme to date. The Dart-like rear lights dominate the wrap-around tailgate, and the overall shape looks taut and upscale. The same can be said of the dynamically-designed interior, taking the concept revealed in Detroit earlier this year to production fairly seamlessly.
Power will come from a choice of EcoBoost four-cylinder engines with turbocharging and direct injection: a 2.0-liter with 240 horsepower and 270 pound-feet of torque, or a slightly punchier new 2.3-liter with 275 hp and 300 lb-ft. Lincoln didn't disclose what transmission they'll be mated to, but did note that the MKC carries the brand's "signature" push-button gear shifter. It comes standard in front drive, but buyers who upgrade to all-wheel drive (or tick the right box) will also benefit from a new adaptive suspension Lincoln calls Continuously Controlled Damping. Other features include an approach-detection system that lights the car up and projects a Lincoln "welcome mat" on the pavement when you get close to the car, and a "bread-crumbing" feature that lets you track where your vehicle has been.

We test Lincoln's 20-speaker Revel Ultima stereo with a rock star

If there's two things Detroiters know, it's music and cars. So when Lincoln approached us with big claims about their latest stereo system, the Revel Ultima System, we sought out a veteran of the Motor City music scene to test it out. First unveiled at the 2015 Detroit International Auto Show in the Lincoln MKX, Revel is bringing its bumping bass to the 2017 Lincoln MKZ. We had Dick Valentine, lead singer of Electric Six and favorite son of Detroit, try out the 20-speaker, 1200-watt system. If you want it on your MKZ, Revel Ultima is part of the $4,400 Luxury Package. Electric Six is perhaps most famous for its early hit, Gay Bar, and the music video filled with shirtless Abe Lincolns in the White House. Since their debut release, Fire, E6 has backed up a regular touring schedule with ten more studio albums, both a live album and live DVD, and an upcoming quasi-reality film titled Roulette Stars of Metro Detroit. We met up with Valentine on the set of the Roulette Stars to explore the depths of his sardonic wit that oozes through every E6 song. Lincoln says that Revel is the best in the biz. And we'll admit, the stats are impressive. But are 20 speakers and marketing terms like Quantum Logic Surround Technology, Clari-Fi Technology and Point Source Architecture enough to impress a Detroit legend? Valentine knows a little something about sound. As the lead singer and frontman of the Electric Six, he's spent over twenty years hearing his tunes played through speakers. While Valentine hasn't owned a car in a while, he does have opinions on jamming inside of them. We played songs from the band's latest album Bitch, Don't Let Me Die to see if Revel truly delivers on it's bold claims. Related Video: Celebrities Lincoln Ownership music audio sound system