Ford Beats Expectations

Ford market share in the North American auto market got boosted up as the American car maker posted its first quarter earnings. The first quarter revenues, the company analysts say, were the best in last ten years and the main factor beig said responsible for this dramatic change are being said the Ford new car models.

The stock value of Ford took a new rise after the news was announced. The net amount that was submitted in Ford’s account during this quarter was $1.6 billion that is up by 40 cents per share as compared to previous year amount that stood at $1.4 billion. The first quarter earnings that were posted by Ford exclude the products that amounted to 41 cents per share.

Last year the revenues of the company rose from $35.8 billion to $32.4 billion. North America is the largest market of the American car maker whose revenue figures grew by one-fifth by the end of first monthly trio of 2013. Analysts were expecting that Ford would announce its first quarter earnings excluding 37 cents per share items on its revenue worth $33.7 billion.

Ford also said that its European trade is going under restructuring and it is expecting a loss of $2 billion this year. According to Ford’s chief financial officer, Bob Shanks, the current economic data of the region presents an unclear picture and no one can say when Europe would rebound in terms of economy.

This year pretax profit of Ford has been highest figure recorded since year 2000. Since 2000, the North American Ford Units has been reporting to the company as a distinct unit.

The second largest car maker of America has also posted a loss of $462 million in Europe. This figure reflects a higher costs of consumer’s demand for new models and economic sluggishness impact on business. Similarly, in South America, Ford reported a loss of $218 million in wake of unfavorable exchange rates especially in Venezuela. In Asia Pacific and Africa Ford earnings were $6 million. It acquired market slice of 3.6% in China during the same time.