U.S. automobile company Ford Motor Co. reported a US $1.23 billion net income for the second quarter of 2013. The calculated 45 cents per-share profit exceeded the 37 cents average forecast made by 17 analysts interviewed by Bloomberg.
As a result, the second-largest U.S. automaker increased its 2013 profit forecast as increasing demand for Focus Compact and Fusion Sedan headed a lineup of more competitive vehicles from the Detroit Three.
"The car lineup is gaining a foothold, increasing volume and it's competitive," Bloomberg Industries auto analyst Kevin Tynan stated yesterday. "It's positioning them to expand their customer base, create loyalty for the badge, retain buyers and then move them up into higher price points."
Ford's North American branch has raked in US $2 billion or more in profit with an operating margin of 10% in five of the previous six quarters.
The unit's consistent achievements will flow more to the bottom line as Ford's restructuring endeavors in Europe progresses and the company begins to earn larger profits in Asia, Ford CFO Bob Shanks stated earlier today.
"We're at the beginning of the phase where, over the next several years, you'll start to see the operations outside North America take on more and more significance," Shanks said to reporters at Ford's Michigan headquarters. "You're starting to see what's possible."
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