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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

2017 Lincoln Continental pricing undercuts Cadillac CT6

For 40,000 people interested in purchasing a new Lincoln Continental, today is the day they've been waiting for. We have the full and complete list of prices and optional extras for the luxury brand's big, new sedan. The Continental will be offered in four trims – Premiere, Select, Reserve, and Black Label. The Premiere starts at $45,485 (including $925 in destination pricing), while the Select kicks off at $48,440. Speaking of the Select, the base 3.7-liter V6 can be swapped for a 2.7-liter EcoBoost V6, if you've got $2,250 to burn, driving the price up to $50,690. Going to the Reserve gets you more kit and the 2.7-liter comes standard, but the price increases to $54,840. Finally, the base Black Label starts at $63,840. In the case of both the high-end trims, Lincoln will let you upgrade to the eagerly anticipated 400-horsepower, 3.0-liter V6 for $3,265. All-wheel drive is a $2,000 option regardless of trim or engine. Standalone options include Lincoln's "Perfect Position" seats, a $1,500 feature that adds 30-way adjustability. It's easy to drive those prices up, of course. Lincoln is offering five options packages, spread across the Select, Reserve, and Black Label trims. The Select Plus (blind-spot monitoring and Sync 3) adds $1,255 to the price of the Select. The $695 Climate Pack (automatic high beams, heated rear seats, a heated steering wheel, and rain sensing wipers) and $3,105 Technology Pack (360-degree camera, adaptive cruise control, Enhanced Active Park Assist, lane keeping assist, and forward collision warning) can be added to the Select, Reserve, and Black Label. The $4,300 Rear-Seat Pack (heated, cooled, and multi-contour rear seats, inflatable rear belts, and a panoramic sunroof) will pamper backseat passengers on the high-end Reserve and Black Label, while the $5,000 Luxury Package will add LED headlamps and a 19-speaker Revel stereo to the Reserve trim. Standalone options include Lincoln's "Perfect Position" seats, a $1,500 feature that adds 30-way adjustability. That's just silly. More common features include a $1,130 Revel stereo, a $1,750 panoramic sunroof, $750 20-inch wheels, and a $335 CD player. So yeah, don't expect many of those base prices to make it to the showroom without some swelling. By our math, the Conti tops out at a cool $82,400. Lincoln says it's big target for the Conti is Audi A6, and its pricing matches up neatly with that car. The front-drive 2.0-liter turbocharged A6 Premium starts at $47,125.

2023 Lincoln Corsair gains a new face and more tech, loses buttons

The 2023 Lincoln Corsair heads into its next model year with a notable refresh inside and out.  Lincoln’s best-selling vehicle gains a number of items, but it also loses a big one: the previously optional 2.3-liter turbocharged four-cylinder. Due to low take rate, Lincoln is dropping its most powerful engine from the lineup, making the 2.0-liter turbocharged four-cylinder with 250 horsepower the only pure-gasoline version of the 2023 Corsair. Lincoln says the 2.0-liter is updated and changed for emissions reasons, but it returns the same output and fuel economy as before. The Grand Touring PHEV carries over unchanged, so itÂ’s still rocking the 2.5-liter naturally aspirated four-cylinder and single electric motor for a combined 266 horsepower. The exterior changes are largely contained to the CorsairÂ’s new face. It gets a totally new grille that is much larger than before. It features a wavy surface, and for the PHEV, it has a metallic foil surface with blue accents to denote its hybrid status. The lower front bumper is revised to accommodate the new grille design, and new wheel options are available across the board. No changes are made to the rear. Lastly, two new color options are available: Crystal Red and Whisper Blue. The blue is new to Lincoln, and seeing it in person, it skews more towards periwinkle than blue — we like it a lot. As for the interior, Lincoln has redesigned the center stack with a new 13.2-inch infotainment touchscreen taking center stage. It runs Sync 4 technology, can be updated via over-the-air updates and features Amazon Alexa. YouÂ’ll be able to monitor the CorsairÂ’s new Auto Air Refresh system (an optional feature) via the infotainment system, too. It features a laser sensor and unique cabin air filter that constantly monitors the cabin air quality and is capable of refreshing the air in the cabin 1.5 times per minute. A 12.3-inch instrument cluster also runs new software for 2023, and it comes standard in the Corsair now. The new center stack designdeletes the large array of climate and media controls that were previously there, which Lincoln says was for the purpose of promoting a more airy cabin and a feeling of spaciousness. A volume knob is still present, but the vast majority of the functions previously controlled by buttons and knobs can now be found in the big, new touchscreen. Yes, that means the climate controls are now integrated into the touchscreen.