Ford sees a strong April

The head of the automaker's US business sees rising consumer confidence and higher revenue.

By Charley Blaine Apr 13, 2010 1:37PM

Ford assembly line © Ford Motor Co.

Updated at 1:48 p.m. ET

 

Ford Motor (F) is "encouraged" by April U.S. sales running ahead of a year earlier and experienced a boost in revenue in the first quarter, the automaker's Americas chief said.

"We're starting to see the economic metrics start to go in the right direction," Americas President Mark Fields said today at an auto-industry breakfast in Detroit. "I'm cautiously optimistic on consumer confidence."

Fields didn't give specifics on sales performance for Ford, Bloomberg News said. Ford's U.S. deliveries totaled 133,979 in April 2009, according to industry researcher Autodata Corp.

Ford shares were up 0.1% to $12.78 this afternoon.

His comments added to evidence of a rebound in the U.S. auto market after sales slumped to a 27-year low in 2009. Industrywide deliveries rose 24% in March, according to Autodata, and marked a fifth consecutive monthly advance.

"The big question is not so much do we have a recovery, but to what extent and how long will it take?" Fields said.Ford Motor

"Revenues were up" for the quarter, he said without elaborating. Ford may report sales of $28 billion to $30 billion, up from $24.8 billion a year earlier.

Net income for the quarter probably will be $978.8 million, or 30 to 31 cents a share, Bloomberg said. Ford reported a $1.43 billion loss in the first quarter of 2009. The company hasn't said when it will release first-quarter results.

Ford, the only major U.S. automaker to avoid bankruptcy last year, finished the quarter with 17.4% of the domestic market, according to Autodata. The increase of 2.7 percentage points was Ford's largest quarterly gain since the last three months of 1977, Fields said.
0Comments

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

RECENT QUOTES

WATCHLIST

Symbol
Last
Change
Shares
Quotes delayed at least 15 min
Sponsored by:

MARKET UPDATE

NAMELASTCHANGE% CHANGE
There’s a problem getting this information right now. Please try again later.
NAMELASTCHANGE% CHANGE
There’s a problem getting this information right now. Please try again later.
Market index data delayed by 15 minutes

[BRIEFING.COM] The stock market finished the Thursday session on a higher note with the S&P 500 climbing 0.5%. The benchmark index registered an early high within the first 90 minutes and inched to a new session best during the final hour of the action.

Equities rallied out of the gate with the financial sector (+1.1%) providing noteworthy support for the second day in a row. The growth-oriented sector extended its September gain to 1.9% versus a more modest uptick of 0.4% for the ... More


Currencies

NAMELASTCHANGE% CHANGE
There’s a problem getting this information right now. Please try again later.
Sponsored by:

VIDEO ON MSN MONEY