Ford Motor Co. posted record profit in North America in the first quarter and is pumping up production for higher revenues.
Over the last year Ford has added third shifts at several plants to increase North American capacity by 400,000 units. In the fall, it will assemble Ford Fusions at a second plant, in Flat Rock, Mich.
Pretax operating profit in North America rose 14 percent to $2.44 billion, a record for any quarter. The previous record was $2.33 billion, set in the third quarter of 2012. Ford began reporting North America results as a separate business unit in 2000.
Ford rode those strong North American profits to a global net profit of $1.61 billion in the quarter, up 15 percent, as global revenues rose 10 percent to $35.81 billion.
"It's a very good start to the year for us," CFO Bob Shanks told journalists. Ford is seeking its fifth straight year of profit after losing $30.1 billion from 2006 through 2008.