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Ford makes $2.1b profit in Q1…

April 28, 2010

Ford has had quite a successful time over the past few years – new higher quality cars, better investments and greater financial management have lead Ford Motor Company in a positive direction. Proof of this comes as Ford announced yesterday in the USA that FoMoCo has made a healthy $2.1 billion USD profit in the first three-and-a-bit months of sales of 2010.

The motivating factor behind this profit is the explosion of Blue Oval sales world wide, with a 39% improvement in U.S. sales over this time last year and an unbelievable 84% explosion in Chinese sales. Not only are Ford selling more cars, but they need to ramp up production to meet market demands. Great news for current workers – though there is no word from Ford RE employment for increased production. Numbers are planned at 625,000 vehicles in the next quarter.

Shareholders are also happy with this profit, as shares were hover around $14.57 on Monday – the highest since last year.

Ford has also quickly noted that the rest of the year may not look so bright as interest rates are on the increase and Ford still has a $34.3 billion USD deficit to repay until the company is “solidly profitable”.

This is also Ford’s fourth consecutive quarter of profit.

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