Auto Knight

Ford Earns $100 Million In First Quarter

by Darren

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Ford Motor Company surprised investors today by announcing their return to profitability, faster than anyone expected. The company announced the made $100,000,000 in the first quarter.

Nobody was happier than Alan Mulally, CEO of Ford.

“The results of this quarter are encouraging, particularly our outstanding performance in Europe and South America,” Mulally said in a statement.

“In the past several years, we have substantially restructured these businesses,” he said. “We believe this is an indication that our efforts to leverage Ford’s global assets across the world will bear fruit. Going forward, we remain committed to our key business objectives, including our goal of reaching North America and overall automotive profitability in 2009 despite the challenging economic conditions.”

Despite continuing hardships in the automotive market domestically, US automakers have gone global to make up the sales.

Ironically, North America was the only region globally where Ford Motor lost money.