Company more than doubles profit while overall auto sales resume torrid pace.
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 biliion and a record profit margin of 9.8 percent.
Transmissions could mysteriously shift into first on certain 2011 and 2012 models.
Ford will recall certain Mustang, F-150, Expedition, and Lincoln Navigator models from 2011 and 2012 because the gearbox can suddenly shift into first gear. There are three accidents linked to the problem but no injuries.