Best first quarter in 13 years

[ChasC5]

Ford has best first quarter in 13 years with $2.6-billion profit

Brisk sales and higher prices helped Ford Motor Co. to one of its best first-quarter profits in years. Ford said Tuesday it earned $2.6 billion, or 61 cents a share, in the first quarter of the year, compared with a profit of $2.1 billion, or 50 cents a share, during the same quarter a year earlier.

It was the automaker's best first quarter since 1998.

Revenue rose to $33.1 billion from $28.1 billion. In morning trading, Ford shares rose 48 cents, or 3%, to $16.02.

"Our team delivered a great quarter, with solid growth and improvements in all regions," said Alan Mulally, Ford's chief executive.

Ford is benefiting from a greater sales volume and higher transaction prices. In the U.S., its vehicles are selling on average for $33,173, about $2,400 more than they did a year ago, according to TrueCar.com, an auto price information company.

Obviously; Rich are buying Fords