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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

Ford hybrid sales rebound following MPG controversy

Ford hybrid customers apparently have very short memories. With two EPA fuel economy reratings in the last year, sales of the C-Max, Fusion Hybrid and Lincoln MKZ haven't been too terribly dented, Ward's Auto reports.
All three vehicles saw sales dips following the August 2013 rerating, although sales of the MKZ Hybrid had begun to rebound as early as November of that year. C-Max sales, meanwhile, took slightly longer, with sales on a steadily improving course as early as February of this year.
The second rerating, in June of this year, has had an even smaller effect on the Blue Oval's hybrids. The C-Max has actually been subject to a sales increase, while both the MKZ and Fusion saw minor sales drops (less than 400 units between the two in the month following the rerating).

Ford Transit production fires up, American Pickers among first takers

Not long ago, the History Channel showed a seemingly unending stream of World War II documentaries, but it made a switch a few years ago to include an increasing mix of 'reality' programming. American Pickers was one of the early attempts at this new formula, with cameras following hosts Mike Wolfe and Frank Fritz around the country in a Mercedes-Benz Sprinter as they tracked down collectibles and "rusty gold" for their Iowa shop, Antique Archeology. The show has since gone on to become one of the channel's most popular programs.
Starting in the new episode airing tonight, the affable hosts will swap their Benz for a 2015 Ford Transit, a nicely timed bit of marketing to coincide with the launch of the model's assembly at the Blue Oval's Kansas City Assembly Plant, which also kicks off this week. Ford is touting 2,000 new jobs created as part of its $1.1-billion investment in the plant.
No strangers to product placement, the guys from American Pickers say their switch away from the Sprinter is because they wanted to balance cargo capacity and fuel economy to make the most of their cross-country jaunts. They opted for the largest Transit available with a long wheelbase, extended body and high roof, giving them 487 cubic feet of cargo room. Hauling power comes from a 3.2-liter, five-cylinder diesel engine with 190 horsepower and 346 pound-feet of torque and a six-speed automatic transmission with rear-wheel drive. Fittingly, the van wears the same Antique Archaeology logo over white paint as their old Sprinter.