Ford US Q1-2010 $1B USD profit

[phillyc]

Well, that is what the analysts are tipping. Ford sales have increased 37% which is double the market growth.

http://www.leftlanenews.com/ford-may...increases.html

Originally Posted by leftlanenews

Ahead of Ford’s official announcement of its first quarter profits for 2010, analysts have estimated that Ford Motor Company will report approximately $1 billion in profit for the quarter. Should Ford in fact report a profit, it will mark the first consecutive four quarters of profit since 2005 for the automaker.
According to analysis by Bloomberg, the average of five of their analysts puts Ford’s first quarter profits at $1.08 billion.

The analysis points to Ford’s increase in sales of 37 percent over the same quarter in 2009, an increase that more than doubled the industry-wide pace. According to Autodata Corp., Ford also utilized the lowest level of incentives out of the domestic automakers, reversing a historical trend of deep discounting to increase volume.

Speaking with Bloomberg, Efraim Levy, a Standard & Poor’s equity analyst said, “There’s a lot of momentum at Ford right now in terms of customers’ perception of their products. We’re hitting the point where it’s time to give them the benefit of the doubt, rather than view them with skepticism.”

Past, present and future
Ford reported $30 billion in losses in the short period from 2006 until 2008, before beginning to turn the business around and earn quarterly profits in 2009, according to Reuters.

Ford projected to produce 570,000 vehicles in North America for the first quarter – a total that jumps 63 percent from 2009. Ford says it plans to produce 595,000 vehicles for the second quarter of 2010, a bump of 32 percent when compared to the same period in 2009.

By contrast, J.D. Powers is predicting an annual sales volume in the U.S. of 11.7 million vehicles for 2010, only representing an industry-wide increase of 12 percent.