Ford Motor Co. reported on Tuesday an increase of 20% of the revenue for the first quarter of 2023as reduced supply chain disruptions allowed it to better meet strong demand for its trucks and SUVs.
Automakers have been able to ramp up production and get it to dealerships on time after being caught in semiconductor and other parts shortages in 2022.
Demand for SUVs and trucks has been on the rise in recent years as manufacturers add amenities to make them attractive to buyers.
The appetite for new vehicles has also been boosted by the financing conditions offered to buyers, which has encouraged their purchase over used cars in some cases.
the gain of Ford in the first quarter was $1.8 billion, or 44 cents per share, compared with a loss of $3.1 billion, or 78 cents per share, a year ago.
The Dearborn, Michigan-based company reported revenue of $41.5 billion for the quarter through March, up from $34.5 billion a year ago.
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