37 per cent more vehicles sold year-on-year; profits hit £1.3bn
28 April 2010

Ford global sales rose 37 per cent year-on-year in the first three months of 2010 , helping the company post a $2.1 billion (£1.3bn) profit for that period.

It was Ford's fourth quartely profit in a row, and its highest quarterly operating profit in six years. In the same period last year it made a net loss of $1.43bn (£900,000).

The company was profitable in North American, Asia, South America and Europe.

Ford credited its success - which amounts to 1.3 million sales over 986,000 a year ago - to improved vehicle sales, continued streamlining of its global automotive operations and profit from its lending arm, Ford Credit.

Ford also reported a one-time gain of $188 million (£123m) related to the sale of its Volvo brand to Geely Holding Group, which was completed at the end of March.

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8

28 April 2010

Ford capitalised on the uncertainty around GM and Chrysler very well in the N.A market and increased market share massively. They're also getting lower economy and european Ford based cars in before GM can - the Fiesta is due for release in June (way before the Spark and new Aveo) and the new Focus should wipe the floor with the Cruze which is only just competitive in Europe right now. I'm not surprised Ford Europe remained profitable, all it took was about 5 gullible people paying full price for their cars and wham, £130m or so. Ford pricing structure is a joke. I think future profitability will be how quickly they roll "ecoboost" engines across the ranges, they were slow to the market in Europe compared to VWs TSI, but if they can hit the NA market fast across all segments (especially trucks) they could still force one of GM/Chrysler under.

28 April 2010

I heard that the biggest contributor to BMW's (and the Quandt family's) profits was finance activity. Wouldn't be surprised to see Ford expanding that area, especially if/when we enter the second dip in the economy.

28 April 2010

Great new for Ford, well done.

But why the picture of someone sticking on a Ford badge?!?!?

28 April 2010

[quote theonlydt]I'm not surprised Ford Europe remained profitable, all it took was about 5 gullible people paying full price for their cars and wham, £130m or so[/quote]

Ford will make the same profit whether people pay full price or not, providing they don't have to make a manufacturer's contribution, it is the dealer that is most likely to take the hit.

I think Ford's big advantage over the other large US manufacturers was that they started their process of change well before the recession, so they were not in a bad position to take advantage of it.

28 April 2010

Ford's huge sales rise is due too Ford's HUGE car price rises!

Peter Cavellini.

28 April 2010

Nothing to do with price rises, They have increased their variable marketing be even more to get people to buy the cars (35% discount on a new ford if you put a little effort in). They're succesful due to making half decent guys people actually want to buy at a net price that s reasonable. Still don't udnerstand the gross price policy though

28 April 2010

Whilst a profit is obviously good news for ford, it actually distracts from the much bigger picture. I was reading an article which states ford is $34billion in debt (which is twice the amount of debt GM had when they exited bankruptcy) and the primary cause of this debt mountain was because the blue oval took out a huge $23billion loan before the credit crisis hit. Whilst a lot of critics at the time were saying this was a sagacious move and Ford have been praised by the US public for not taking government money, it now appears that they (if they can't control this debt mountain) will be in a worse position than GM who were of course vilified for taking the government cash. If appears Ford have been dealt the cruel side of irony.

28 April 2010

[quote mashwort]They're succesful due to making half decent guys people actually want to buy at a net price that s reasonable. [/quote]

Don't you mean half decent cars?

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