DETROIT -- After years of cost cutting, Ford Motor Co. finally has higher revenues to brag about.
Revenues in North America totaled $14.1 billion in the first quarter, up from $10.0 billion in the first quarter of 2009.
The increase, announced last week, suggests that the automaker's substantial first-quarter net profit -- $2.1 billion -- has legs.
It's too early to declare victory at Ford, in part because its domestic competition is still recovering from bankruptcy. And Toyota Motor Corp. suffered image-damaging recalls to fix unintended acceleration.
Nevertheless, it's safe to conclude that Ford's comeback is on solid ground.
Besides the healthy revenue and profits, Ford's U.S. market share at the end of the first quarter was 16.6 percent, up 2.7 points from a year earlier.
"Previously, a lot of our quarters have been around getting our structural costs in line," Mark Fields, Ford's president of the Americas, said last week. "This last quarter was a real strong statement about how we're going to grow our business going forward."
Fields added: "You can't cost-cut your way to prosperity."