Ford posted its best first quarter profit in 13 years thanks to hot-selling vehicles such as the Fiesta, Explorer, and 2012 Focus. Hybrid models of the Fusion and Escape deliver excellent fuel economy and have ever-increasing appeal to consumers as gasoline prices march steadily towards $4/gallon. Strong consumer demand for fuel-efficient vehicles combined with Ford’s emphasis on delivering best-in-class technology in smaller vehicles has increased Ford’s revenues to $33.1 billion. Ford’s first quarter profit increased by 22% to $2.6 billion and is the eighth consecutive profitable quarter for the Detroit automaker. This strong first quarter performance comes even after Ford paid $2.5 billion towards its debt from a 2006 loan to improve its operations. Alan Mulally, Ford’s President and CEO, summed it up saying, “Our team delivered a great quarter, with solid growth and improvements in all regions.”
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