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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

Lexus ES 350 vs. Lincoln MKZ

Despite a lineup of well-received crossovers on the Lexus showroom, the midsize Lexus ES 350 four-door continues to appeal to consumers. Many of those customers are older, so you won't see marketing budgets directed toward them; no one, other than the pharmaceutical companies, is spending money marketing to baby boomers. But a midsize, moderately expressive sedan with an easy buying experience and almost coddled ownership still has its fans, and the Lexus ES 350 delivers those attributes in spades. We'd like to say Lincoln's MKZ (pictured above) is hot on the Lexus' heels, but Lincoln's lineup remains a work in progress. The Fusion-based MKZ offers a nice mix of attributes, but Lincoln's dealer count has shrunk, and many Lincoln outlets are located within – or immediately adjacent to – Ford stores. If a Fusion-based Lincoln credibly aspires to Lexus-like attributes, the same won't be said for the Ford showrooms. Here are the offerings: The Lexus ES 350 team has, over the sedan's several variations, worked hard to separate the volume Lexus from Toyota's similar Camry, and in 2017 that separation might actually be quantifiable. To its credit, the ES 350 (pictured at left) comes with but one non-hybrid drivetrain, a 3.5 liter V6 connected to a six-speed automatic driving the front wheels. With it, the ES 350 delivers a motoring experience bordering on the sublime. With the exception of its now-predictable big mouth grille, the balance of the ES sheetmetal is responsibly muted, inoffensive to the eye and should wear well through the typical payment cycle. Access to its moderately upscale interior is easy, and once inside you'll find expansive room (some 100 cubic feet) for four, along with adequate space for the occasional fifth. With a curb weight of just 3,600 pounds, the V6's 268 horsepower and 248 pound-feet of torque is responsive, and that's evident in the four-door's 7-second sprint to 60. This isn't a track day or autocross weapon, but if part of your day is a stressful commute, this will make it less so. With a base – albeit well appointed – spec, the ES 350 retails for just under $40,000. We would order ours in Atomic Silver, even if "atomic" seems so last-century. If you can forget – for a minute – the Matthew McConaughey connection, know that Lincoln's MKZ is fully credible as a midsize, mid-fashion sedan. If you like your Fords with more expressive interiors and additional driving refinement, there's a lot to like in Lincoln's MKZ.

2016 Lincoln MKX First Drive [w/video]

The Lincoln Motor Company was one of America's great luxury symbols of the 20th Century. It grew from an aircraft engine maker during the First World War to become the car of presidents. The jaw-dropping Continental concept revealed earlier this year is a clear indication that Lincoln plans to build on its history and recapture some of that luxury magic. While the image of a powerful Continental thundering over a tony Westchester road is certainly romantic, it does little to sell cars today. Enter the 2016 Lincoln MKX. Flagships like the Continental are great, but Americans buy way more crossovers, and Lincoln's redesign of the MKX focuses on the needs of modern luxury customers. That means more and better safety features, a quiet interior with attractive materials, and classy exterior design. The potent 2.7-liter twin-turbo V6 pushes out 335 horsepower, outperforming V6 offerings from Lexus and Acura. There's also a new engine – Ford's potent 2.7-liter twin-turbo V6 pushing out 335 horsepower – that outguns V6 offerings from Lexus and Acura. All told, it's a tasteful redesign with some spotlight features that might turn a few more customers Lincoln's way. The updates are intriguing, yet many of them (aside from the V6's 380 pound-feet of torque) are rather subtle. So we grab the key fob to an attractive all-wheel-drive model decked out with the Reserve package and set out for a long weekend to absorb the new MKX. Several days of running errands around town, commuting, and a three-and-half-hour drive from metro Detroit to the northern tip of Michigan lay ahead of us. We're going to be spending a lot of time in the MKX, so naturally, we take stock of the interior. Our tester (we photographed a different one) is done up in a cappuccino leather theme, which means brown leather for the steering wheel, armrests, and the tops of the door panels. Another chocolately strip bisects the dashboard. The rest of the cabin – the headliner, the seats, the sides of the doors, etc. – is a creamy white. We sink into the seats, which are cushy yet supportive. The headrest is like a pillow, and the plush floormats feel made for bare feet. The touchscreen works well, and it's complemented by redundant buttons and switches, which we like. The MKX is generally user friendly. The touchscreen works well, with little poking or jabbing. It's complemented by redundant buttons and switches, which we like.