Ford Motor reported its best first-quarter earnings since 1998 when it recorded huge profits on big SUVs. But now the results are from the opposite end of the spectrum: cars like Fiesta and Fusion.
The company says it is determined to keep that up, gasoline prices and supply issues from Japan notwithstanding. And CEO Alan Mulally says he won't use incentives to do it even if market share drops,
which actually happened last quarter. The company earned $2.6 billion, a $466 million increase over Q1 last year, though share slid from 16.5% to 16%. The results beat analyst expectations.
Edmunds.com reported that Ford's average transaction price was up $260 per vehicle versus a year ago.
Read the whole story at The Detroit News »
