Ford has officially announced its fourth consecutive profitable quarter, where the company has managed to earn US$2.1 billion in profits from January to March, 2010.
Ford’s North American sales grew by as much as 39% when compared to a year ago and another major contributing factor for the company was that their investments into China experienced a large boom having managed to sell 84% more vehicles compared to last year.
This sort of news bodes well for Ford’s stockholders as their shares have risen to a new high within the last twelve months and was traded at US14.57 per share. Ford is now looking to increase their production levels at Dearborn – Michigan, to 625,000 vehicles in the second quarter. This transpires to a 9% overall increase in production over their first quarter figures.
With production levels increasing, it is unclear as to Ford’s intentions in adding to their current workforce as well.
Irrespective of the sudden boom in car sales, Ford still has their doubts about the remainder of this year’s economic climate and has their cautious-eye fixed on the horizon at the moment, especially when their soon-to-be released Fiesta ready to roll out to the masses.
Another reason for Ford’s seemingly paranoid and over-cautious approach is also due to the fact that there may be an impending threat of the US economy reviewing and possibly increasing interest rates and being US$34.3 billion in debt, we can understand ‘why’ when Ford has yet to reveal the method nor mechanism to be employed in order to service their bail-out.
About the author:
Jay WM Wong Editor
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