Ford earned $2.6 billion in the first three months of 2011, a 22.4% improvement over a year earlier, as U.S. sales increased on the strength of small and midsize cars and cost-cutting in Europe resulted in a modest operating profit.
The Dearborn automaker’s net income of 61 cents per share beat the 50 cents per share consensus forecast of about 20 Wall Street analysts and marked Ford’s most profitable first-quarter in 13 years. In 2010’s first quarter Ford made $2.1 billion, or 46 cents per share.
Revenue increased 18% to $33.1 billion from $28.1 billion a year earlier.
“Our team delivered a great quarter, with solid growth and improvements in all regions,” said Alan Mulally, Ford president and CEO.
Tag: Ford sales (Page 2 of 3)
Let the good times roll at Ford Motor! It’s amazing how this company turned around in the four years since CEO Alan Mulally took over the top spot from Bill Ford. It won’t be easy to keep the market share gains Ford has seen in the past few years with GM and Chrysler experiencing their own comebacks. In the meantime you know the Blue Oval Crew isn’t sitting back but rather they are getting ready for another round of new product launches in 2011.
From the Detroit Free Press:
Ford is about to happily wave good-bye to 10 years of turnaround plans.
The Dearborn automaker, which plans to announce year-end financial results Friday, is poised to report a profit for 2010 of about $8 billion excluding onetime charges — the automaker’s biggest annual profit in a decade.
Ford usually announces how much annual profit-sharing checks will be that day. The checks, expected in March, could give the local economy a $240-million boost, said David Sowerby, economist and chief portfolio manager for Loomis Sayles. Bernie Ricke, president of UAW Local 600, said the checks will be “fairly significant and more than we’ve seen in several years.”
It’s 1977 all over again and Mark Fields is considering letting his hair grow longer to prove it! All kidding aside Ford keeps the petal to the metal (staying with the 70’s theme here) and let’s the competition know their cruising for a bruising. Serious market share gains of 2.7% is no joking matter as that keeps two assembly plants running.
From the Detroit Free Press:
The last time Ford was gaining U.S. market share as fast as it is now, Mark Fields, the company’s president of the Americas, was learning to drive.
Fields, 49, said Tuesday that the company’s market share rose 2.7 percentage points from January through March, Ford’s sharpest increase in a three-month period since the fourth quarter of 1977.
Back then, the Ford Grenada was popular and the company had just launched a redesigned Ford Thunderbird. For the family, Ford offered the Ford LTD II and the wood-paneled Ford Country Squire.
Read the full article here.
U.S. auto sales gained more momentum in March with Ford sales up 39%; Chrysler down 8%; GM up 21%. The big winner appears to be Toyota with an increase of almost 41%. Some analysts expected sales to come in even stronger with the heavy incentive wars kicking in last month but hey, it beats 2009 by miles….
From the Detroit News.com:
Toyota posted a nearly 41 percent increase in sales last month after boosting incentives amid recall problems plaguing the world’s largest automaker.
Ford Motor Co. sales rose 39.8 percent last month while Chrysler Group LLC posted an 8 percent decline.
Meanwhile, General Motors Co. said today its vehicle sales jumped 21 percent sales in the U.S. last month, led by a 76 percent increase for its Buick brand and popular new launch vehicles.
010 U.S.
Ford, Lincoln and Mercury dealers sold 178,546 vehicles last month and the Dearborn automaker said its retail market share rose for the 17th time in the last 18 months.
Read the full article here.
New no. 1. Ford sales top GM, Toyota! It’s a whole new ballgame and Ford just won the first inning. Looks like at this point in time Ford has the “right stuff”.
NEW YORK (CNNMoney.com) — Recall-plagued Toyota Motor reported a 9% drop in U.S. sales in February, but it appears other automakers didn’t gain as much from Toyota’s problems as expected.
Even Ford Motor, which posted strong sales to vault ahead of Toyota and GM to claim the market lead in the U.S., said it didn’t believe its gains were a result of Toyota’s problems.
Ken Czubay, Ford vice president, said the company believes many traditional Toyota customers sat on the sidelines instead of buying a car from another automaker.
Read the full article here.
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