Ford posts record profits

[SVT666]

Ford Motor Company posted its best-ever pre-tax profit in North America, enough to overcome mounting losses in Europe.

In North America, Ford says it posted a $2.4 billion pre-tax profit, the highest figure it has posted since breaking out its individual markets in 2000.

But while North America, where under CEO Alan Mulally Ford has pared its line to just two brands and has trimmed capacity and workers, was a strong point, the automaker lost three times as much in Europe as the year before. Ford posted a $462 million loss in Europe, where it is struggling along with a weak European economy. Ford is set to close three plants in Europe over the next year and a half, but it won't realize savings from those money-losing facilities until late this year.

In addition, Ford also slid from profits to losses in South America, which it attributes primarily to the devaluation of currencies in Venezuela and Argentina. Ford posted a $218 million loss during the first three months of the year compared to $54 million in profit last year.

The automaker eked out a $6 million profit in Asia, an improvement over last year's $95 million loss. Ford says that its market share in the Asia Pacific-Africa market climbed 30 percent during the quarter on account of new plants in China and India.

[Byteme]

I'd look for an increase in the quarterly dividend.   

[Mustangfan2003]

I thought Cougs said the current Ford products are terrible? 

[280Z Turbo]

Ford needs to ditch MyTouch ASAP

[Atomic]

It's such a fickle industry. I hope the momentum continues. In retrospect, think FMC was very wise to sell of the likes of Austin Martin, Jaguar, Land/Range Rover, Mazda, Volvo and focus on Ford and maybe or maybe not Lincoln. They desperately needed the fast cash and seem to be putting it into appropriate use. The other "big two" of the traditional three (GM, Chrysler with Ford) are each tackling their challenges uniquely and are staying competitive but anything can change for better or worse. Hoping it stays positives for the three makes.

[keith217]

I think that the Ford market growth in Asia is huge. I visited Shanghai recently and saw a lot of brand new american cars driving around. I guess in Asia they trust American engineering in their cars over Chinese and other companies. Crazy! Also a lot of the styles in the Ford line up available overseas are pretty desirable...

[veeman]

I think that the Ford market growth in Asia is huge. I visited Shanghai recently and saw a lot of brand new american cars driving around. I guess in Asia they trust American engineering in their cars over Chinese and other companies. Crazy! Also a lot of the styles in the Ford line up available overseas are pretty desirable...

first post!  i'm not the one to say it because relatively speaking i'm new and don't post a lot, but welcome!!

[SVT666]

I think that the Ford market growth in Asia is huge. I visited Shanghai recently and saw a lot of brand new american cars driving around. I guess in Asia they trust American engineering in their cars over Chinese and other companies. Crazy! Also a lot of the styles in the Ford line up available overseas are pretty desirable...

Welcome to the boards.  You will like it here...or you won't.

[r0tor]

Ford needs to ditch MyTouch ASAP

In my parents fusion you need to input the city, state, street name, and then number in that exact order in the navi screen,if you dare deviate and enter the street number and street first- the "Go" button to navigate doesnt ever make an appearence.