Ford reported a 15% increase in profit in the first quarter, as a record performance in North America offset weak overseas results. The accounts therefore reward the strategy of the American car manufacturer, which in the last 18 months has worked on expanding its product portfolio and studied a policy of purchasing incentives.
In North America, Ford reported pre-tax earnings of $2,44 billion, the most since the company began reporting results for the region in 2000. In Europe, the company reported losses of $462 million , against the red of 149 million last year.
Overall, the automaker reported net profits of $1,61 billion (40 cents a share), compared with $1,4 billion (35 cents a share), in the same period last year. Excluding exceptional items, earnings were 41 cents a share, versus 37 cents expected by analysts. Revenue increased to $35,8 billion. "It's been a good and encouraging start to the year," said Bob Shanks, Ford's chief financial officer.
