37 per cent more vehicles sold year-on-year; profits hit £1.3bn

Ford global sales rose 37 per cent year-on-year in the first three months of 2010 , helping the company post a $2.1 billion (£1.3bn) profit for that period.

It was Ford's fourth quartely profit in a row, and its highest quarterly operating profit in six years. In the same period last year it made a net loss of $1.43bn (£900,000).

The company was profitable in North American, Asia, South America and Europe.

Ford credited its success - which amounts to 1.3 million sales over 986,000 a year ago - to improved vehicle sales, continued streamlining of its global automotive operations and profit from its lending arm, Ford Credit.

Ford also reported a one-time gain of $188 million (£123m) related to the sale of its Volvo brand to Geely Holding Group, which was completed at the end of March.

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