Analysts expect that Ford’s profits for the first quarter of 2011 may reach $2.1 billion. If so, it would be Ford’s biggest first-quarter profit since 1998, according to Automotive News. Ford reported $6.6 billion in profits for all of 2010.
The income surge is reportedly linked to the success of new, more fuel-efficient Ford products like the new Explorer and Fiesta. Ford sales — including Lincoln and Mercury vehicles — were up 15.9 percent year-over-year in the first three months of 2011. Moreover, sales in March 2011 surged 19 percent higher than 2010 levels, and exceeded those of General Motors.
Ford also may benefit from the fact that production of new Toyota vehicles has been drastically reduced due to a March 11 earthquake and tsunami in Japan. Toyota may not resume full production of all models until November. Ford has said its production won’t be significantly affected by supply shortages linked to the earthquake.
Source: Automotive News