Ford makes P2.295-T in Q1 2023

Ford announced that it made US$41.5 billion (approximately P2.395 trillion) in the first quarter of this year.

Per the Blue Oval brand, its overall revenue from January to March of 2023 translates to a 20 percent increase in terms of the company’s earnings in the same time period in 2022.

Spurring the said growth — the American carmaker explained — was a favorable mix of products, higher net pricing, and increased production volume broadly based geographically.

That said, its current automobile shipment figure is nearing the 1.1 million mark, a nine percent increase compared to the deliveries made in the first quarter of last year.

“We’re bringing Ford+ to life by zeroing in on what distinct customers need and value the most. Ford Pro is leading the way on profitable growth, our big investments in iconic Ford Blue vehicles and derivatives are winning with customers, and Ford Model e’s different approach to EVs is significantly reducing costs on our first high-volume products while rapidly developing breakthrough next-generation vehicles from the ground up,” Ford Chief Executive Jim Farley was quoted saying.

Going into detail, the Dearborn-based brand revealed that three customer-focused businesses now drive value and growth: Ford Blue, Ford Model e, and Ford Pro.

Ford Blue, which covers the brand’s gas and hybrid vehicles, reportedly made the automotive marque US$21.5 billion (around P1.189 trillion) with notable nameplates like the Ford Mustang, Maverick, and Bronco leading the way.

Meanwhile, Ford Model e made the company US$700 million (about P38.713 billion) in revenue thanks to the Ford Mustang Mach-e sport utility vehicle and the F-150 Lightning pickup truck.

The new, all-electric Ford Explorer crossover — introduced in March — is expected to help boost the brand’s Ford Model e business.

Lastly, Ford Pro — which helps commercial customers transform their enterprises with tailored gas, hybrid and electric vehicles, and high-value services — made the auto firm a solid US$13.2 billion (roughly P730.026 billion).

Ford’s Transit and E-Transit together remain the top commercial van in both North America and Europe.

Photos from Ford

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