Ford Motor Company (NYSE:F), reported today a net income of $1.61 billion for the first quarter of 2013. The profit per share came in at 41 cents, an increase of 37 cents over the analyst’s estimates. The company saw an increase in the profit compared to the $1.4 billion, or 35 cents in the previous year.
All new Fusion from Ford Motor Company (NYSE:F), which has been compared to Aston Martin styling, is an effort by Chief Executive Officer Alan Mulally to roll over some more competitive cars to provide cushion to its pickups and sport utility vehicles. The Fusion by Ford Motor Company (NYSE:F) was given to the market last year to make its lineup of vehicles strong and competent. The total revenue for the automaker came in at $33.9 billion, an increase of $30.5 billion from the previous year. The sales exceeded from $33.6 billion projected by 11 analysts.
Ford Motor Company (NYSE:F) reported a record $2.4 billion profit in the quarter in North America, the highest quarterly profit since at least 2000, even though the demand was declining. The revenues from North America helped the automaker to compensate for losses in Europe and South America
The Asia Pacific business of Ford Motor Company (NYSE:F) posted $6 million in earnings after losing $95 million in a year earlier. The automaker is infusing $4.9 billion in China where it is trying to challenge the major players GM and Volkswagen.
The Auto major is restructuring its European operations to come over the losses. As per the restructuring plans, three European factories will be closed by 2014. Ford Motor Company (NYSE:F) will be able to save $500 million a year after the closing of these plants.
The company has been benefited by the demands of pickups, which contributed most in recording the biggest sales in the United States. The Ford F-Series has been the most dominant machine in the segment for 36 consecutive years. Ford Motor Company (NYSE:F) has been able to showcase some of the best American cars of the generation. The company is working hard to get support by strengthening their sedans and small car segment.
The automaker is trying to expand in the luxury market, which is a major challenge in front of the company at present. The luxury car from Ford Lincoln could not attract many customers, and January was the brand’s worst month in 32 years of production. The MKZ Sedan production was also slowed due to quality checks. According to Ford Motor Company (NYSE:F) the supply will come to normal this month.
For full fiscal 2013, the company has maintained its earlier forecasts and is looking forward to another impressive year in terms of revenue.