2007 Ford F-350 Crew Cab Dually. 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

Ford is recalling more Takata airbag-equipped Ford and Lincoln models

The Basics: Takata, the beleaguered airbag supplier at the root of the largest recall in automotive history, has informed Ford of a problem with the airbags in just over 30,000 Ford and Lincoln models. The problem is not related to the non-desiccated ammonium nitrate airbag inflators that plague the other airbags ( including many Fords), meaning there isn't a risk of shrapnel flying out from the units in this particular recall. The Problem: In the event of an accident, the front airbags may only partially inflate, and the airbag may become detached from the module because of misaligned parts. The problem affects 2016 and 2017 Ford Edge and Lincoln MKX models built at the Oakville Assembly Plant. The issue also affects 2017 Lincoln Continentals that were built at the Flat Rock Assembly Plant. Injuries/Deaths: In a release, Ford stated that it is not aware of any accidents, injuries, or deaths related to the airbag issue. The Fix: Dealers will replace the driver-side front airbag module at no cost. If You Own One: Sit tight and wait for Ford to notify owners. When that happens, take your car to the dealer for a replacement. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: FordImage Credit: AOL/Drew Phillips Recalls Ford Lincoln Maintenance Safety lincoln mkx

Ford reserving 50th Anniversary Mustangs for service members

Think getting your hands on one of the 1,964 50th Anniversary Ford Mustangs is hard as a civilian? Imagine how tough it might be for the Mustang fanatics in our nation's military. Perhaps recognizing this fact, Ford Emerging Market Services and the Overseas Military Sales Corporation (the only Ford-authorized retailer on the military's bases) ran a raffle, with the winners receiving the opportunity to purchase one of the limited-edition muscle cars. Ford EMS and OMS received 300 entries to the raffle, although with only eight 50th Anniversary Stangs to hand out, we imagine there were quite a lot of disappointed soldiers, sailors, airmen and marines. "We are pleased to offer limited-edition anniversary Mustangs to members of our military through our Military Appreciation Program, and we are delighted at the response it's receiving," Doug Walczak, EMS' fleet sales manager, said. The first Mustang was delivered to Army Maj. Del Boyer, shown above. While Maj. Boyer took delivery in New York, the raffle was open to servicemembers both at home and abroad.