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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsFord Profits Rise To $1.6B On Record-Breaking North American Results
Dearborn Ford Motor Co.'s profits rose to $1.6 billion during the first quarter, led by the highest profit in North America since at least 2000.
The Dearborn automaker's profits rose for the 15th consecutive quarter, up 15.4 percent to 41 cents per share, compared to last year's first quarter, when the company posted a $1.4 billion profit, or 39 cents per share.
This year's first-quarter earnings per share also topped first-call analyst expectations of 37 cents per share.
Revenue jumped approximately 10 percent to $35.8 billion.
"Our strong first-quarter results provide further proof that our One Ford plan continues to deliver," Ford CEO Alan Mulally said Wednesday in a statement, referring to the company's global consolidation and new products plan.
Ford made all but $6 million in North America, which posted its best quarterly pre-tax profit since at least 2000, when the company began reporting North America as its own business unit. The region's profits topped $2.4 billion, led by strong sales of profitable pickup trucksand sport utility vehicles, and increasing market share, which through March was up 0.7 percentage points to 16.2 percent.
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http://www.detroitnews.com/article/20130424/AUTO0102/304240375#ixzz2RQK1ImIH
Rex
(65,616 posts)otherwise they would have gone under...oh wait, that didn't happen at all.
Purveyor
(29,876 posts)Ford did receive $5.9 billion in government loans in 2009 to retool its manufacturing plants to produce more fuel-efficient cars, and the company lobbied for and benefited from the cash-for-clunkers program.
http://www.factcheck.org/2011/09/ford-motor-co-does-u-turn-on-bailouts/
Rex
(65,616 posts)Still not part of the TARP program.
Purveyor
(29,876 posts)and took quite an interest back in those dark days.
Rex
(65,616 posts)I read they got a loan, but so does every huge business and it is called corporate welfare. They even supported TARP and used the fact that they didn't get any TARP money to increase sales! Funny...by all accounts of the doomsayers on Wall Street, Ford should have gone belly up.
Newest Reality
(12,712 posts)They do help keep sales up! Repos come later, and faster!
Subprime Is Back For Auto Loans, Boosting Sales, And Worries
http://www.ibtimes.com/subprime-back-auto-loans-boosting-sales-and-worries-729991
Purveyor
(29,876 posts)thing but loosing your vehicle is another.
After all can live in your vehicle if necessary.