Ford drives home biggest first-quarter profit in 13 years
Nowadays FORD Company is increasing their profits in a huge way. The company reported a net income of $2.6bn (£1.6bn), or 61 cents a share, compared with $2.09bn, or 50 cents a share, during the same period a year earlier. Revenue rose to $33.1bn, up from $28.1bn in 2010. These profits are because FORD is making new ‘greener’ cars, with the changing in recent laws about ecology; they are creating competitive and small cars that spend less petrol than other cars of other companies like Honda, Peugeot, Seat, Volkswagen , etc. Also the increase in the price of petrol is helping that consumers when they have to choose one car to buy, they decide which spends less petrol and also the cheaper. New cars here in Spain like for example Ford Fiesta or Ford Focus are having a nice position between young people elections.
FORD is increasing their sales not only in USA, also in Africa and Asia they are increasing profits but the amazing thing is that in Europe profits have increased more than the double, is a huge achievement for the company!
Allan Mullay the Ford President and chief executive is really happy with these results and also with the excellent work of their employees, with a solid growth and with improvements in all regions.
Finally these profits arrive in a perfect moment for the company to cut their big debt and help to pass this difficult crisis.
Source: http://www.guardian.co.uk/business/2011/apr/26/ford-biggest-profit-13-years