Ford Profits Rise To $1.6B On Record-Breaking North American Results

[Purveyor]

Dearborn — Ford Motor Co.'s profits rose to $1.6 billion during the first quarter, led by the highest profit in North America since at least 2000.

The Dearborn automaker's profits rose for the 15th consecutive quarter, up 15.4 percent to 41 cents per share, compared to last year's first quarter, when the company posted a $1.4 billion profit, or 39 cents per share.

This year's first-quarter earnings per share also topped first-call analyst expectations of 37 cents per share.

Revenue jumped approximately 10 percent to $35.8 billion.

"Our strong first-quarter results provide further proof that our One Ford plan continues to deliver," Ford CEO Alan Mulally said Wednesday in a statement, referring to the company's global consolidation and new products plan.

Ford made all but $6 million in North America, which posted its best quarterly pre-tax profit since at least 2000, when the company began reporting North America as its own business unit. The region's profits topped $2.4 billion, led by strong sales of profitable pickup trucksand sport utility vehicles, and increasing market share, which through March was up 0.7 percentage points to 16.2 percent.

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http://www.detroitnews.com/article/20130424/AUTO0102/304240375#ixzz2RQK1ImIH

[Rex]

1. Good thing they got bailed out in the TARP deal

otherwise they would have gone under...oh wait, that didn't happen at all.

[Purveyor]

2. Ford did receive $5.9 billion in government loans in 2009 to retool its manufacturing plants...

Ford did receive $5.9 billion in government loans in 2009 to retool its manufacturing plants to produce more fuel-efficient cars, and the company lobbied for and benefited from the cash-for-clunkers program.

http://www.factcheck.org/2011/09/ford-motor-co-does-u-turn-on-bailouts/

[Rex]

3. Yeah that is the first thing that pops up on google.

Still not part of the TARP program.

[Purveyor]

5. Yes I did use google but I knew this as I live some 45 miles west of the Ford Motor headquarters

and took quite an interest back in those dark days.

[Rex]

7. I went and did a search after reading the article you posted.

I read they got a loan, but so does every huge business and it is called corporate welfare. They even supported TARP and used the fact that they didn't get any TARP money to increase sales! Funny...by all accounts of the doomsayers on Wall Street, Ford should have gone belly up.

[Newest Reality]

4. Subprime is still working well.

They do help keep sales up! Repos come later, and faster!


Subprime Is Back For Auto Loans, Boosting Sales, And Worries

In contrast, repossessing automobiles is a much quicker process for lenders, whose main challenge is finding the location of the vehicle. The robust market for used cars and tight inventory also makes it easier for lenders sell repossessed vehicles.

http://www.ibtimes.com/subprime-back-auto-loans-boosting-sales-and-worries-729991

[Purveyor]

6. For now, auto loan delinquencies are falling. Subprimes learned that loosing your house is one

thing but loosing your vehicle is another.

After all can live in your vehicle if necessary.