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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 Announces Four Recalls, 1.4M Vehicles Affected

Ford is taking a bit of the spotlight away from General Motors, announcing a major group of recall campaigns, covering a total of 1.4 million vehicles built between 2006 and 2013. Let's start with the big one, which covers the Ford Escape, Mercury Mariner and, according to The Detroit News, Ford-built Mazda Tribute CUVs. 915,216 vehicles are covered, all of which were built in model years 2008 to 2011. 736,000 vehicles are in the US, while Canada then Mexico make up the vast majority of the remainder. The problem is due to an issue with the torque sensor in the steering column, which could lead to sudden power steering failure. Manual steering would still be available, though. "Dealers will perform one of three service fixes, depending upon what diagnostic codes are shown when the vehicle is taken to the dealer," Ford spokeswoman Kelli Felker wrote to Autoblog in an email. "They will either update software for the power steering control module and the instrument cluster module; replace the torque sensor; or replace the steering column, which includes upgraded power steering control module software." The most recent generation of the Ford Explorer is suffering from a similar malady, thanks to an intermittent electrical connection (we think that means short circuit) in the steering column. Like the Escape and Mariner, manual steering would still be available in the event of a power failure. Ford will recall 195,527 examples of its Explorer, 177,500 of which are in the US. This recall covers model years 2011 to 2013. According to Automotive News, the National Highway Traffic Safety Administration has stated that Ford will inform owners of affected vehicles by July 25. Ford is also recalling 200,000 Taurus sedans, over a corrosion issue in the license plate lamp. This particular recall, which covers vehicles from model years 2010 to 2014, is limited to drivers in northern climes. Vehicle owners in southern states are free to pass on the recall. Finally, 82,576 Fusion, Mercury Milan and Lincoln Zephyr/MKZ sedans from 2006 to 2011 are being recalled because of floormats that can interfere with the accelerator pedal. Dealers will replace the offensive floormats with newer examples. "Ford is committed to providing our customers with top quality vehicles. We are equally committed to addressing potential issues and responding quickly for our customers," Felker wrote.

Lincoln Continental Concept has arrived on the New York stand

The return of the Lincoln Continental, albeit in concept form, has not been without controversy. Bentley chief designer Luc Donckerwolke going as far as to call the car a "copy" of its own Flying Spur, offering to send the British sedan's tooling to Detroit. But while debate can rage over any similarities – you can and should head over and vote in our poll on the matter – can we all at least agree to see something interesting happening with Lincoln design? Gone are unattractive styling trademarks like Lincoln's winged grille, while less polarizing elements like the vehicle-spanning taillights have been refined. The three-box design, meanwhile, dismisses the coupe-like stylings of the latest MKZ , opting for a long hood, short deck and a more traditional three-box layout. The advantage of that, of course, is cabin space. The Continental is designed for rear-seat passengers, offering opulent, Venetian leather seats with Alcantara inserts and 30-way adjustability. Just so we're clear, we have a hard time even thinking of 30 different ways to adjust a seat, so well played Lincoln. The headliner is satin, a briefcase sits in each back rest and dedicated tray tables allow for work on the go. It's plush, even in the world of pie-in-the-sky concepts. Check out our latest batch of live photos of the all-new Continental Concept, live from its stand at the 2015 New York International Auto Show. Lincoln Continental Concept Shows the Future of Quiet Luxury and Upcoming Full-size Sedan – Elegant, effortlessly powerful and serene, the Lincoln Continental Concept signals the brand's all-new full-size sedan coming next year and the future of quiet luxury – Lincoln Continental Concept integrates technologies designed to create better drivers, rejuvenate and entertain passengers, including all-new, Lincoln-exclusive 3.0-liter EcoBoost® engine, patented 30-way seats and premium Revel audio system – New Continental Concept introduces E-Latch door handles, LED matrix headlamps with laser-assist high beams and SPD SmartGlass® tinting sunroof NEW YORK, March 30, 2015 –Lincoln today introduces the Continental Concept, signaling an all-new full-size sedan coming next year and the future of quiet luxury. Elegant, effortlessly powerful and serene, the Continental Concept blends meticulous craftsmanship and technologies designed to create better drivers and provide passengers with a more relaxing and entertaining environment inspired by first-class travel.