The second quarter of 2013 has been immensely profitable for the Ford Motor Co. As a matter of fact, it’s been one of its most profitable quarters in corporate history. During the first six months of this year, the second largest automaker in the U.S. posted record profits. Ford Hauled in $4.77 billion domestically from January through June of 2013. The windfall of sales was spurred by increasing consumer demand for the F-Series pickups and Fusion cars. Now, the Dearborn, MI company is planning on expanding its factories to better meet rising demands for its most popular models.
As the month nears an end, Ford has speculated that industry demands could see it roll out more than 16 million cars from the factory line. As the economy shows sure signs of health again, found in increased consumer spending and confidence, a recovering housing market and more satiable banking system, customers are lining up for a new Ford. The company has estimated that it could sell more cars this month than it did during its peak back in 2007.
“Did we probably leave a few sales on the table? Yeah, probably,” explained Ford’s chief operating officer, Mark Fields. “We’re rectifying that as we go into the second half of the year.”
The more robust lineup of different makes and models has made Ford more appealing to the frugal consumer. An enhanced warranty, a revamped company image and a better produced end product have also helped in facilitating sales. The company also has a brand new F150 model that’s slated to be unveiled early next year. The company now offers more makes and models that include small, compact, mid-sized and large-sized vehicles, which have also aided in sales.
While domestic sales are hearty, European sales are still slumping. Ford is currently in the midst of implementing the very same restructuring plan that was implemented by Chief Executive Officer Alan Mulally, which was the roadmap that helped the company climb out of the abyss of debt and become a powerful contending force once again in the automaker industry.
Second quarter income for Ford this year broke all previous records. The company posted net income of $1.23 billion or about 30 cents per share. The total share profit was an estimated 45 cents per share. Late in 2006, when the company received a wholly government bailout totaling $24.3 billion, few speculated that just seven years later it would be posting record profits.