Ford Profits $2.1 Billion

[rickaren]

Ford Profits $2.1 Billion in First Quarter of 2010

Posted: Apr. 28, 2010

Ford has posted a profit of $2.1 billion for the first quarter of 2010, making the period its fourth profitable quarter in a row.

According to Edmunds, “That's double what industry analysts had predicted and an about-face from its $1.4 billion loss for the first quarter of 2009.” Autoblog adds, “The company saw North American sales increase by around 39 percent compared to a year ago. At the same time, business is booming in China, where the Blue Oval managed to move around 84 percent more vehicles.”

The Detroit Free Press explains: “Ford’s top executives know they’re getting a lot of credit from American consumers for avoiding the government rescue and bankruptcies that kept crosstown rivals General Motors and Chrysler alive last year. … Ford, by remaining independent as it boosted car quality, capitalized on the public goodwill by converting showroom traffic into sales growth so strong that its market share gain is the best since 1977.”

The situation, however, is looking up for its American competitors as well. General Motors has announced that it will pay back its bailout loans five years early. Meanwhile, Chrysler LLC saw its sales increase in Q1. No doubt, Toyota’s highly-publicized recall troubles have given American brands enough wiggle room to secure a larger share of the car-buying market.

Lately, new models like the 2011 Fiesta and impressive technologies like its highly-acclaimed SYNC infotainment system have garnered a lot of press and attention for Ford. The automaker, however, isn’t letting all the excitement distract it from its priorities. “Despite the boom, Ford is careful to point out that the rest of the year probably won't look as sharp as the first quarter,” reports Autoblog. “Though the Fiesta is scheduled to hit the market soon, the threat of higher interest rates is looming on the horizon and Ford still has a heady $34.3 billion in debt to deal with.”

LINK: Ford Profits $2.1 Billion in First Quarter of 2010 - U.S. News Rankings and Reviews

[mathew1985]

Its not unusual for ford to have a profit of such huge amount.Many of the car lovers like the quality of ford and its performance.They should keep it up.