Shares of Ford Motor moved higher in Thursday’s trading session after the automaker posted its best quarterly results ever. Ford posted profits of $0.68 a share on revenue of nearly $38 billion. Europe, including Russia, led to the company’s best Europe results since 2008. Ford CFO Bob Shanks said, ‘Some particular standouts included Germany, Italy and Russia. We doubled our shares in Russia which contributed to the good news on share in Europe.’ It was a different story in South America though, Brazil’s economic downturn contributed to a 29 percent decline in sales in that country. Shanks said, ‘We really have to see the environment in Brazil improve. Our view is that next year commodities will start to stabilize and turn positive in terms of increasing in price and that certainly is going to be good news for that economy.’ Another bright spot, Ford saw its global market share increase to 7.1 percent. TheStreet’s Ruben Ramirez has details from Wall Street.
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