Raised Roof E-350 Wheelchair Van With Braun 800 Lb. Commercial Rear Lift 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

Why Edmunds took a sledgehammer to its 2015 Ford F-150

The discussion around repair bills for the aluminum-bodied 2015 Ford F-150 pickup continued from the beginning of last year to the end, and haven't abated; as an aside, some Tesla Model S owners have been shocked at disquieting repair estimates for minor damage to their aluminum wunder-sedans. Edmunds decided to inject some fact into the fray: it bought a $52,000 long-term 2015 F-150 and clouted it with an eight-pound sledgehammer. Twice. The rear of the bedside took the impacts since it couldn't be replaced, it would have to be repaired. To the pickup's credit, the only reason associate editor Travis Langness hit it twice was that the first sledgehammer blow didn't do as much damage as Edmunds wanted. After the second, the visible damage included the two direct impacts, a few creases, and a cracked taillight, so they drove the pickup to Santa Monica Ford to get an estimate, complete with a fictitious story about how the damage occurred and the mercy plea that Langness was paying for the repair out-of-pocket. In Part 2 Langness hits on some of the details with getting the truck fixed, such as the massively expensive taillight and the list of tools Ford recommends dealers have to work on aluminum. But he was promised he'd have his truck back in seven days, and Santa Monica Ford got it back to him in seven days. In Part 3 we get the bill. It's not small, but it's quite a bit less than it could have been if the service manager had charged Edmunds the official labor rate for aluminum. We're not going to spoil it here, so check out the videos above and below for the beginning and the end, and head over to Edmunds for the complete story about how it all happened and some riffing on the repair numbers. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Video:

'Car Wars' says Ford, Honda to pick up share, Fiat-Chrysler ambitions downplayed

Don't look for a tremendous shifts in automotive market share over the next three years because it might not be coming. That's at least according to the annual Car Wars report by John Murphy, from Bank of America Merrill Lynch Global Research.
In the report's analysis of automakers' market share from 2013 to 2017, it predicts only small changes among the major companies. Ford and Honda see the biggest positive effect with an estimated 0.5 percent increase in their shares over the next three years; to 16.2 percent and 10.3 percent respectively. On the flip side, European automakers and Nissan are expected to lose 0.2 percent each to fall to 8.3 percent and 7.8 percent each respectively. The rest of the industry is predicted to hold steady as it is now.
The biggest loser in that prediction might be Fiat-Chrysler Automobiles. The report certainly throws a wet blanket on its plan for significant gains in market share. Murphy told The Detroit News that the company's goal was "almost unattainable."