1977 Ford Thunderbird 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

2015 Ford Mustang revs it up at Cars & Coffee

Just because the new 2015 Ford Mustang has officially been released, you didn't think that would be the end of the matter - did you? Of course not. There'll still be plenty of rumors, reports and video footage to bring you. Like this, the first non-official footage of the new pony car in the wild.
Shot by YouTube user SotA1080 and dug up by our friends at CarBuzz, this clip shows the new Mustang posing for photos (alongside other Mustangs) and starting up its engine at the most recent gathering of Cars & Coffee in Irvine, CA. And this being the GT model, it's not packing the V6 or the turbo four, but the red-blooded 5.0-liter V8 that tells us and enthusiasts worldwide that the new Mustang has not lost its way. Scroll on down to watch the footage for yourself.

Ford celebrating 80 years of Aussie utes as it prepares to shutter Oz manufacturing

Ford is ending Australian production after 90 years in 2016, and with it may go perhaps the most iconic vehicles in its auto market - the ute. Car-based pickup trucks like the Ford Ranchero and Chevrolet El Camino were always more of a curiosity than a true market force here, but in Australia, they have long proven hugely popular.
As the legend goes, Ford invented the niche after a farmer's wife had asked Ford Australia's managing director for a more utilitarian car. Her request was simple: "My husband and I can't afford a car and a truck but we need a car to go to church on Sunday and a truck to take the pigs to market on Monday. Can you help?"
Ford's design team came up with a two-passenger, enclosed, steel coupe body with glass windows and a steel-paneled, wooden-frame load area in the rear. The sides of the bed were blended into the body to make it look more unified, and to keep costs down, the front end and interior were based on the Ford Model 40 five-window coupe. Power came from a V8 with shifting chores handled by a three-speed manual. Within a year, the new vehicle was ready, and production began in 1934. Lead designer Lewis Bandt christened it the coupe-utility.