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Ford Makes $2.1 Billion, Its Fourth Consecutive Quarterly Profit New York Times

27.04.10

The first-quarter profit was the company’s fourth consecutive quarterly profit and reflects how much Ford has managed to increase sales with new products. It also shows how deeply the company has shrunk operations by closing plants and eliminating tens of thousands of jobs.

The last time Ford earned a quarterly operating profit of $2 billion, in 2004, automakers sold nearly 17 million vehicles in the United States. This year, Ford expects sales for the entire industry to be fewer than 12 million. Still, the company said on Tuesday that it planned to build 625,000 vehicles in the United States and Canada in the second quarter, 9 percent more than the first quarter and 39 percent more than the year-ago period.

Ford’s momentum is building as Toyota suffers blows to its reputation for quality, and as Ford’s domestic rivals, General Motors and Chrysler , seek to overcome the damage done by their bankruptcy filings last year. Industry analysts, however, said the roots of Ford’s improved position run deeper than the current woes of its competitors.

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