A top Ford executive has said he is “encouraged” by US sales which are running ahead of last year as the company reported a boost in revenue in the first quarter.
Ford Americas president Mark Fields said: “We’re starting to see the economic metrics start to go in the right direction. I’m cautiously optimistic on consumer confidence.”
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Although Fields did not give exact sales figures, his comments added to evidence of a rebound in the US market after sales slumped to a 27-year low in 2009. Industrywide deliveries rose 24% in March, according to market analyst Autodata, a fifth consecutive monthly rise.
Fields added: “The big question is not so much do we have a recovery, but to what extent and how long will it take?”
Analusts expect Ford to report sales of US$28bn for the first quarter compared with US$24.8bn in the same period a year ago.
Net income is forecast at US$978.8m versus a net loss of US$1.43bn last year. The company hasn’t said when it will release first quarter results.
According to Autodata, Ford finished the quarter with 17.4% of the domestic market, an increase of 2.7% percentage points – the company’s largest quarterly gain since the last three months of 1977, Fields said.
