Ford posts $2.6 billion second quarter income, says all automotive business operations are profitable
July 23rd, 2010 - 7:47 pm ICT by BNO NewsDEARBORN, MICHIGAN (BNO NEWS) — Ford Motor Co. on Friday reported a second quarter net income of $2.6 billion, or 61 cents per share, as each of its major business operations around the world recorded improved profits.
The net income showed an increase of $338 million from the second quarter 2009, as its U.S. sales rose 21 percent thanks to strong retail market performance of the company’s products, including the F-Series, Taurus, and Transit Connect.
But the company achieved an even bigger sales increase in Asia Pacific Africa, where its sales rose 27 percent, including a 20 percent increase in China.
Meanwhile, Ford reported tripled quarterly sales in India as the new Ford Figo received around 25,000 orders in its first 100 days on the market.
Friday’s results were Ford’s fifth straight quarterly profit.
Other second quarter highlights included the fact that Ford repaid $7 billion of Automotive debt, including $3.8 billion to the UAW Retiree Medical Benefits Trust and $3 billion of the company’s revolving credit facility.
It also announced a $450 million investment to build a flexible vehicle manufacturing plant in Thailand, announced a $250 million investment in Ford Pacheco Plant in Argentina, and announced a $135 million investment to design, engineer and produce key components in Michigan for Ford’s next-generation hybrid-electric vehicles that go into production in 2012.
- Ford's net income stands at $20.2 bn in 2011 - Jan 28, 2012
- Fiat profit more than doubled in fourth quarter - Feb 03, 2012
- Ford posts one-billion-dollar profit - Nov 03, 2009
- Ford posts $20.2 bn net income - Jan 28, 2012
- Ford Q1 profit down 45 percent year on year - Apr 28, 2012
- Coca Cola quarterly volume in India grows 20 percent - Feb 08, 2012
- Apple quarterly results exceed expectations - Apr 25, 2012
- Chinese liquor giant's Q1 profit soars - Apr 20, 2012
- Chrysler, Ford sales up in January - Feb 02, 2012
- Wal-Mart Q3 profit below estimates - Nov 16, 2011
- Ford shows a $1 billion profit - Nov 03, 2009
- HDFC quarterly net profit up 20 percent - Oct 17, 2011
- RIL profit falls 13.55 percent, to buy back shares - Jan 20, 2012
- Tata Motors third quarter net profit up 40.47 percent - Feb 14, 2012
- Bosch India net up 31 percent in 2011 - Feb 28, 2012
Tags: benefits trust, bno, business operations, dearborn michigan, flexible vehicle, ford motor, ford motor co, hybrid electric vehicles, increase in china, manufacturing plant, market performance, medical benefits, new ford, pacific africa, quarter income, quarterly profit, quarterly sales, retail market, revolving credit facility, s sales