1996 Ford F250 Xlt 4wd W/ 460 on 2040-cars

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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

This 1969 Ford F-100 has a Cadillac CTS-V engine lurking underhood

Something always feels just a little taboo when someone builds a custom and then slots in a powertrain from a rival automaker. That's exactly the case with this modded 1969 Ford F-100 boasting a highly tuned LSA supercharged V8 like from the second-gen Cadillac CTS-V. However, with a claimed 800 horsepower on tap thanks in part to running an estimated 20 pounds of boost, it's easy to get over any bad feelings. Built by Tommy Pike Customs in South Carolina, the truck tries to keep the exterior looking somewhat stock. Although, the jade green and satin gold paint, Quaker State logo, lowered suspension and black wheels immediately suggest something is up. Once the F-100 starts up with its menacing growl, absolutely any doubts of this beast being unaltered are immediately gone. Not so obvious are some tweaks to actually help put all that power down, including disc brakes and independent suspension setups at the front and rear. The video gives some glimpses at a few of Pike's other creations, but the real star here is definitely his mean, green Ford.

California Man Reunited 33 Years Later With Thunderbird

A California man was at a loss for words when he was reunited with his prized 1964 Ford Thunderbird on Tuesday, 33 years after it was stolen from a bar parking lot. Gary Chartrand could hardly believe how well his old Thunderbird held up in the last three decades. The odometer had only added about 1,000 miles from when he last saw the car back in the 1980s. "A few bumps and bruises but boy, not much changed," Chartrand told KOVR. Chartrand bought the car as a present to himself after finalizing his divorce from his wife of 10 years in 1981. It disappeared one night from the parking lot of a Sacramento bar where he was working. Police found Chartrand's car 750 miles north in Washington State. They have no leads on who might have stolen the classic car. Related Gallery Buying An Older Car: Five Things To Watch Out For