Ford posts healthy global profits for second quarter

 


This BBC news article confirms the healthy figures that had been widely expected by insiders and external analysts alike, and shows that the automotive giants enjoyed a particularly successful three months in their home country, the USA, and China, which is among the fastest growing of automobile markets anywhere.

One of the world's most iconic manufacturers, the Ford Motor Company, has announced encouraging second quarter sales and profit figures for its global operations, further signalling that the car market is well on the road to recovery.

Overall, Ford reported profits of $1.2 billion (£781 million) for the quarter which concluded at the end of June, with this figure standing at an impressive $2.3 billion within Ford's domestic market. Whilst much of this success has been put down to a sustained growth in the pick-up truck sales sector, all of the company's models have been experiencing an upturn in transaction rates recently, which certainly bodes well for the future as the global economic crisis begins to show signs of easing.

Particularly noteworthy, however, is the fact that Ford's profits shot up by close to 50 per cent in China, compared to 17 per cent globally. Having long been a truly international company with substantial manufacturing and sales interests in countries from the UK to Australia and India, it should come as no surprise that the burgeoning East Asian market is now relying on Ford to provide much of their population's new cars.

Whilst the European market has remained challenging for the company, as well as all other major automotive manufacturers, since the financial downturn took hold around five years ago, Ford in the UK stands as a shining example of how a company producing first rate goods can flourish even when times are hard. Ford have led the significant recovery in the fortunes of the British new car market that has been seen of late, with their new Fiesta and Focus models regularly topping monthly and yearly sales charts.

Image credit: Jbachman01 (flickr.com)