Ford Earnings Up Nearly 105%

Ford Motor Co. reported today that its first-quarter earnings were up nearly 105% from the same period last year, due to increased sales and reduced costs.

Ford, again out-earning industry leader General Motors Corp., said it had record quarterly profits of nearly $1.492 billion, or $5.73 a share, on sales of $18.1 billion, up from profits of $728.3 million, or $2.70 a share, on sales of $14.79 billion a year ago. In 1986, Ford outperformed GM for the first time since 1924.