Volvo has posted a solid first quarter, with earnings jumping to $103 million. That's nearly double the Q1, 2010 totals, in part due to continued strong demand for its XC60 crossover. The Geely-owned automaker expects the revenue to continue to flow throughout 2011, as the automaker is hoping to increase sales by 70,000 units on the year to 450,000 units.
Ford announced this morning that the company earned net income of $190 million in the fourth quarter of last year, which is actually down sharply from the $886 million earned in the same quarter a year ago. The reason for the dip, however, is a good one, as Ford took on $960 million in debt reduction charges during the quarter, which ultimately reduced the company's debt by $1.9 billion.