DETROIT — Despite an ongoing semiconductor shortage that has shuttered plants and drained dealership lots, Ford Motor Co.'s North American business is riding a wave of new products to impressive financial success.
The region booked a $2.9 billion profit in the first quarter of 2021 with a 12.8 percent margin. The company has long targeted 10 percent margins in the region and expects to get there consistently by 2023.
Kumar Galhotra, Ford's president of the Americas and International Markets Group, said Ford is benefiting from strong pricing on new models such the Bronco Sport and Mustang Mach-E, as well as recently redesigned models such as the F-150 and Explorer.
Galhotra, 55, spoke with Staff Reporter Michael Martinez in May, and he detailed upcoming digital retail changes and the company's expectations in managing the chip shortage. Here are edited excepts.