The Ford Motor Company reported today its 19th profitable consecutive quarter, with a Q1 2014 pre-tax profit of $1.4 billion. As for income, the Blue Oval netted no less than $989 million or 24 cents per share, which represents a 39 percent fall from the January-March period a year ago.
North America results were driven by robust sales totaling 580,260 vehicles, with market share down only 0.6 percent from the same period last year. Wholesale volume and revenue declined 2 percent and 5 percent, respectively.
This term, Ford's automotive sector managed to score a record profit in the Asia Pacific with a pre-tax profit of $291 million, an improvement of $319 million compared to what it did a year ago. Chinese first quarter sales soared a staggering 45 percentage points to 271,321 vehicles sold. Wholesale volume and revenue both rose slightly from the first quarter of 2013, with continued market share gains in Asia Pacific markets.
European sales were up 11 percent with 326,000 vehicles moved, reporting a pre-tax loss of $194 million. The region is expected to become profitable sometime in 2015. In the first quarter, the American manufacturer increased its quarterly dividend by 25 percent and paid about $500 million in dividends.
“We had a solid quarter, and we are on track with our most aggressive product launch schedule in our history,” said Alan Mulally, Ford president and CEO. “Our One Ford plan continues to deliver as we serve customers in more markets around the world with a full family of vehicles committed to best-in-class quality, fuel efficiency, safety, smart design and value.”
This term, Ford's automotive sector managed to score a record profit in the Asia Pacific with a pre-tax profit of $291 million, an improvement of $319 million compared to what it did a year ago. Chinese first quarter sales soared a staggering 45 percentage points to 271,321 vehicles sold. Wholesale volume and revenue both rose slightly from the first quarter of 2013, with continued market share gains in Asia Pacific markets.
European sales were up 11 percent with 326,000 vehicles moved, reporting a pre-tax loss of $194 million. The region is expected to become profitable sometime in 2015. In the first quarter, the American manufacturer increased its quarterly dividend by 25 percent and paid about $500 million in dividends.
“We had a solid quarter, and we are on track with our most aggressive product launch schedule in our history,” said Alan Mulally, Ford president and CEO. “Our One Ford plan continues to deliver as we serve customers in more markets around the world with a full family of vehicles committed to best-in-class quality, fuel efficiency, safety, smart design and value.”