Ford first quarter results beat expectations

And Ford's much improved position is very apparent in the Middle East, where first quarter sales registered a 10 per cent rise, driven by significant growth in sales of flagship models.

Ford chairman and CEO Bill Ford described the recently announced results as the best for nearly two years and said that the company had now exceeded expectations for nine quarters in a row.

Pre-tax profits for Ford's worldwide automotive sector were US$1,806 million in the first quarter of this year and total sales in the period were up 13 per cent, or US$4.6 billion, to US$38.8 billion. Worldwide vehicle-unit sales in the quarter were 1,788,000, up from 1,704,000 a year ago.

The Middle East picture was among the brightest of all for the famous blue oval with Ford managing to build on the major percentage gains of 2003.

GCC sales of the Ford Explorer, still the world's best-selling SUV, were up 70 per cent in the first three months of 2004, while the Ford Mondeo, Ford's European flagship and a new entry in the Middle East, saw sales improve by 45 per cent. The Ford Expedition full-size SUV recorded 11 per cent growth and the Mercury Mountaineer luxury off-roader nearly doubled its sales.

Ford's mainstay in the region for so many years, the Ford Crown Victoria, continued its impressive hold of the popular E-segment in the region, while sales of its cousin, the Mercury Grand Marquis, were up 22 per cent. The Ford Focus, a world-class contender feted by the motoring critics, generated 10 per cent sales growth for the quarter.

Commenting on Ford's upward sales trend in the region, Jim Benintende, managing director of Ford Middle East, said: "Ford is continuing where it left off at the end of 2003 and customers are turning to the brand in ever increasing numbers. These figures are a direct return on the investment and commitment of our dealer partners in the region and reflect the fact that Ford now boasts one of the largest product portfolios in the region, from world-class small cars to hugely capable full-size SUVs and people carriers."

Benintende reflected on the recent awards to several dealer partners in the region recognising their impressive progress in 2003, but he stated that the enthusiasm to keep improving was greater than ever. "This is a great start to 2004 and the determination is there to see it through to the end of the year. A number of exciting product launches are in the pipeline, including the all-new Ford Focus, two additional models of the Mondeo, and Mustang, as well as the Ford Fiesta and important additions to the Lincoln brand, and I'm sure all these new entries will receive a tremendous response from our valued customers in the region, and add further boost to our product-led drive across the region."