Ford Motor Company, headquartered in Dearborn, Mich., announced US September sales up 46% on the previous year.
Ford, Lincoln and Mercury unit sales in September totalled 160,873, up 46% versus a year ago. Ford’s market share also increased in September, marking the 23rd time in the last 24 months that Ford’s share of the retail market increased.
Year-to-date sales totalled 1.44 million units, an increase of 21% which is more than double the overall industry rate. Ford is on track to gain market share for the second year in a row, a result not achieved since 1993.
“The key to our success in the U.S. market is the relentless cadence of new vehicle, powertrain and technology introductions,” said Ken Czubay, Ford vice president, U.S. Marketing, Sales and Service. “Every high-quality, fuel-efficient new vehicle provides Ford and its dealers with an opportunity to reach new customers and build a stronger foundation for future growth.”
Third quarter income $1.7 billion
Ford also reported a third quarter net income of US$1.7 billion, up $690 million on the third quarter 2009 figure. The company reported a pre-tax operating profit of $2.1 billion, an improvement of $1.1 billion from a year ago.
“Our performance through the first nine months has clearly exceeded our initial expectations and is enabling us to make additional significant balance sheet improvements in the fourth quarter,” said Lewis Booth, Ford executive vice president and chief financial officer. “We are now in a period where we are focusing on growing the business profitably around the world following the hard work that has been done by the entire Ford team to fix the fundamentals of the business.”
Read our Automive Focus feature in the IPMD Global Market Review