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NINETY EIGHT REGENCY

Fields: U.S. Ford revenues up in first quarter

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Fields: U.S. Ford revenues up in first quarter

Bryce G. Hoffman / The Detroit News

Detroit -- Ford Americas President Mark Fields said the automaker made more money from car and truck sales in the United States in the first quarter than it did during the same period last year.

"Not only did we have balanced share growth, but year-over-year, our incentives were down and our revenue was up," he said, though he declined to provide specific figures because the company is in its quiet period.

Ford Motor Co.'s share of the U.S. market increased 2.7 percentage points in the first quarter of the year.

"The last time we had a share increase that big for a quarter was in 1977," said Fields, speaking to reporters this morning after a speech at the Automotive Industry Breakfast sponsored by Dawda Mann Counselors at Law. "I did some research. 'Saturday Night Fever' was just being launched in theaters, along with 'Close Encounters of the Third Kind.' So it's been a long time."

Fields said the automaker will provide full financial details in its upcoming earnings call, but said Ford will continue to make money.

"Our intent for this year is to be profitable in North America, profitable in automotive, and profitable as a company," he said.

Ford surprised Wall Street with a $2.7 billion profit last year after a record loss of nearly $14.7 billion in 2008.

From The Detroit News: http://www.detnews.com/article/20100413/AUTO01/4130389/1148/auto01/Fields--U.S.-Ford-revenues-up-in-first-quarter#ixzz0kzv6CIAa

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