Earlier last year, Ford experienced one of the best quarterly earnings as the auto manufacturer managed to profit record $2.5 billion. However, due to higher cost of manufacturing vehicles and unfavorable exchange rates, the company’s first quarter’s earning has fallen more than 36 percent in the first quarter of the year.
Recently the company posted its earnings for the first quarter and the manufacturer has pointed out its Lincoln division, F-150 and Super Duty as contributing to higher transaction prices in the U.S. market thus helping the company to keep healthy profits. The company said that transaction prices for its new cars and trucks rose $1,971 year-over-year compared to an industry average of $506.
While the company is planning on focusing on its profitable divisions, the latest findings has pointed out one of the most interesting differences between luxury car makers and consumer vehicles makers. Daimler also revealed its quarterly earnings recently and it managed to ship approximately half of the total units shipped by Ford Motor Company. However, the former managed to increase its revenue up by nearly 11 percent with Daimler’s net quarterly earnings of $3 billion which is nearly the twice of the earnings from the first quarter of last fiscal year.
Other automakers also revealed their quarterly earnings recently and among the top automakers, FiatChrysler’s quarterly revenue also went up. Despite that, shares of Ford, FiatChrysler and GM went down. On the other hand, Tesla’s shares went up by 0.83 point despite recent downward rating of its cars.