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Feds Probe Power Steering In 938,000 Ford Midsize Cars

U.S. safety regulators are investigating complaints that the power-assisted steering can suddenly fail on three Ford midsize car models. The probe covers 938,000 Ford Fusion and Lincoln MKZ cars from the 2010 through 2012 model years, as well as the 2010 and 2011 Mercury Milan. The National Highway Traffic Safety Administration says it has received 508 complaints alleging that the cars lost power-assisted steering, causing increased steering effort. Four complaints say the problem caused crashes, but no injuries were reported. The agency says in documents posted Monday on its website that in many cases, a warning message appeared as the failure happened. Restarting the car corrected the problem in some cases, but the problem returned in others. The agency says it will check the scope and frequency of a problem. It could seek a recall. Ford says it's cooperating with the probe. Shares of Ford Motor Co. rose 6 cents to $14.65 in morning trading Monday. Its shares are down 14 percent over the past year. Related Gallery Our Favorite Hot And Sporty Cars For 2015 Recalls Ford Lincoln NHTSA Ford Motor Company power steering mercury milan investigation

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

Lincoln Corsair reportedly getting a PHEV among three engine options

What's a Lincoln Corsair, again? That would be the forthcoming replacement for the current Lincoln MKC compact crossover, and we know little about it besides its name change and the fact it'll be related to the also-redesigned Ford Escape. However, The Truth About Cars says it saw paperwork Ford filed with the National Highway Traffic Safety Administration detailing Corsair powertrain options. These VIN decoder documents reportedly indicate three available engines, including, most notably, a plug-in hybrid. TTAC, which didn't post the documents, indicates the hybrid's heart will be a 2.5-liter Duratec four-cylinder – such an engine currently power base models of the Ford Escape and Fusion. All-electric driving range is unknown, but the Fusion Energi can go 25 miles, and crossover competitors do anywhere from 22 to 26 miles on EV power. What we do know is that all PHEV Corsairs will come with AWD. This would be the first time we've seen mention of a Lincoln Corsair plug-in hybrid, but the idea isn't far fetched. The new Lincoln Aviator will offer a plug-in hybrid version, and we know there's a traditional hybrid version of the related Ford Escape crossover on the way. Spy shots of that vehicle from earlier this month didn't show the plug-in port where Ford likes to put it, on the left front fender. We expect a different powertrain in that model and we also wouldn't be surprised if there's an Escape PHEV as well. The other two powertrains will reportedly be the MKC's 2.0-liter Ecoboost four-cylinder as the base, with the 2.3-liter EcoBoost continuing to be an optional upgrade. TTAC also says the VIN document indicates that trim configurations have changed to simply offering standard and Signature trims (from the MKC's standard, Select, Reserve, and Black Label levels). This is hard to believe given that every other Lincoln offers a Black Label and is usually the model featured in promotions and official photography. There's still a lot to be learned about the Lincoln Corsair, including whether these VIN documents are accurate. We expect to know more later in the year. Given that the Lincoln Aviator was shown before its Ford Explorer sibling, we wouldn't be surprised if the Corsair made its official introduction first. Related Video: