US car manufacturer Ford Motor posted its best profits in more than a decade in the first quarter of the year, the company said Wednesday, driven by strong demand in North America.
Ford reported net income of 1.61 billion dollars, up from 1.4
billion a year earlier, while revenue increased to 35.8 billion
dollars from 32.4 billion.
Profits in its North America division were a record 2.4 billion -
the highest quarterly profit since at least 2000, when the company
began reflecting the region as a separate business unit.
The surging growth in North America overset losses in South
America and Europe.
Ford said it posted a 462 million dollar loss in Europe for the
quarter and is on track to lose 2 billion dollars in the division in
2013. The company blamed restructuring costs, unfavourable currency
exchange and the continent's ongoing economic woes for the weak
sales.
Ford has already closed plants in Britain and Belgium, with plans
to shut others.
