2013 Ford Fusion 4dr Sdn Se Fwd on 2040-cars

Auto blog

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

Rare Ford Mustang ASC McLaren is a piece of '80s history

You can't blame the dealer for advertising this oddball convertible as a "Ford Mustang McLaren." The name certainly rolls off the tongue better than "Ford Mustang ASC McLaren," and it makes the car sound a whole lot more appealing. However, without the 'ASC' in there, you don't get the full picture. And when it comes to the world of strange automotive collaborations—particularly those of the 80s—you most definitely want the full picture. ASC McLaren Mustangs were the result of fortuitous timing, and a project that was already underway between the American Sunroof Company and McLaren (no, not that McLaren). Detroit custom car builder Peter Muscat brought the idea of a Mustang with a tonneau cover to ASC after chopping the top off a Fox body on his own, and in turn ASC founder Heinz Pretcher brought the concept to Ford. Big blue was already in the midst of relaunching a Mustang convertible, which had been absent from the lineup for 10 years, so initially it was the Mercury Capri that got the ASC/McLaren treatment. The result was a car that was more expensive than a Mustang GT, and coupled with declining sales of the Capri overall, the car was discontinued in 1986, paving the way for the ASC McLaren Mustang you see here on eBay. With the change over to the Mustang as their platform for modification in 1987, ASC McLaren were given the opportunity to create something notable. Customizing the Capri was one thing, but the Mustang name carries with it iconic status. So what did ASC McLaren do with their chance to leave their mark on automotive history? They gave the car some visual modifications, both inside and out, but like the Capri, left the powertrain untouched. Also like the Capri, the cars still ended up costing more than $20,000. Between the high price, the economic woes of the late 80s, and disputes between Muscat and Pretcher, the ASC McLaren Mustangs were no more by 1990. During the three year run, 1,806 ASC McLaren conversions were completed, making them quite rare, especially low mileage examples like this one. The 5.0 V8s are known for being stout engines, capable of handling serious modification, and logging lots of miles, so there are no concerns there. The 5-speed Borg-Warner transmission that came in all Mustang GTs is also known for being a durable unit, the '87-'90 versions especially so. The main concern here would be the life the car has lived, and more importantly where it has lived.

Ford Focus Electric gets $6,000 price drop, now starts at $29,995

In early 2013, the Nissan Leaf shed a massive $6,500 from its $35,200 base price to offer a new starting price of $28,800. Since then, we have seen numerous other plug-in vehicles get smaller price tags, from the Honda Fit EV (lower lease price) to the Chevrolet Volt (around $5,000 lower) to the Mitsubishi i (a $6,130 drop). Last year, Ford lowered the $39,200 price of the Focus Electric by around $4,000, but that hasn't been enough to get the Ford EV to really compete, saleswise, with other plug-in vehicles on the market. But wait, as they say, there's more. This past weekend, Ford lopped another $6,000 from the price of both the 2014 model year Focus EVs currently on dealer lots as well as the redesigned 2015 models that are now rolling out (they're basically the same car, minus some appearance changes). Ford spokesman Aaron Miller confirmed to AutoblogGreen that the Focus EV will now start at $29,995 and said that reducing the price should make the Blue Oval's only pure EV competitive. "We hope by reducing the price we're giving consumers another reason to consider it," he said. Through the end of September 2014, Ford has sold just 1,534 Focus EVs in the US (the model sold 1,335 in the first nine months of 2013). For comparison's sake, the Nissan Leaf starts at $29,010 and sells around 3,000 units a month in the US. Miller notes that the Focus EV has been selling the best on the West Coast, and is also doing well on the East Coast. After that, he said Atlanta and the Great Lakes area also see decent sales of model's admittedly small pie. We can only assume that offering the EV for under $30,000 will make that pie somewhat bigger.