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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

Autoblog Podcast #418

Episode #418 of the Autoblog Podcast is here, and this week, Dan Roth, Steven Ewing, and Brandon Turkus talk about the big news from the 2015 Chicago Auto Show, as well as the rumors that Apple is building its own car, codenamed Project Titan. Of course, the podcast starts with what's in the garage and finishes up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the rundown with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #418 Topics 2015 Chicago Auto Show Apple working on Project Titan electric car In The Autoblog Garage 2015 Porsche Macan Turbo 2015 Ford Expedition 2015 Nissan Juke Hosts: Dan Roth, Steven Ewing, Brandon Turkus Runtime: 01:23:23 Rundown Intro and Garage – 00:00 Chicago show – 30:08 Apple car – 51:42 Q&A – 59:16 Get The Podcast UStream – Listen live on Mondays at 10 PM Eastern at UStream iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show in iTunes

Ford EcoSport Storm concept swallows a Raptor in Sao Paulo

Ford rolled into the Sao Paulo Motor Show with some pretty cool crossovers in tow, the awesomest of all being the EcoSport Storm concept shown above, which draws its inspiration directly from the F-150 SVT Raptor. It packs a lower grille clearly derived from the now-famous muscle truck, as well as a Blue Storm paint job, black and silver trim, special graphics, lower body cladding and 215/75 R15 off-road tires. Don't go holding your breath for a supercharged V8, though; made locally in Brazil, India and Thailand, the tiny EcoSport is typically powered by a three- or four-cylinder engine.
The Storm isn't the only specially prepared Ecosport on show, however, joined as it is by another pair called Beauty and the Beast. Beauty is decked out in matte copper with a black roof, LED fog lamps, 18-inch wheels with low-profile tires and an interior complete with four individual bucket seats, leather upholstery and a full multimedia suite. The Beast, meanwhile, takes a sportier approach with a white pearl finish, blue and orange trim and three-bar grille. It also wears 18-inch wheels and LED fog lamps, but its interior swaps out its rear seats for a bike rack.
Joining the EcoSport show cars was an Edge crossover equipped with all the latest technologies and done up in bright red with three-bar grille, bulging hood, and an interior featuring 10-inch touchscreens and leather upholstery. Feel free to read more in the press release below.