Carmaker Ford¹ has reported better-than-expected results for the first quarter of 2009 and says it does not intend to take government aid.

汽车制造商福特发布了一份比预计结果要好的09年第一季度的财政报告，并称不打算接受政府帮助。

Carmakers across the world have been struggling to cope

While it still reported a loss for the quarter, of $1.4bn (£0.96bn), this was better than analysts² had forecast.

The news sent Ford's shares up more than 16% in early trading.

Carmakers across the world have been struggling to cope with a massive slump³（暴跌） in demand for cars as consumers hold back（退缩） on making expensive purchases.

Two of Ford's biggest rivals, General Motors and Chrysler, have taken billions of dollars in US government aid and still face bankruptcy⁴.

The latest results show that Ford has $21.3bn in cash and reiterate⁵（反复地说） that, "based on current planning assumptions（假定，设想）, it does not expect to seek a bridge loan from the US government".

Cost cutting

The first quarter results represent a significant improvement over its performance in the final quarter of last year.

During those three months, Ford lost $5.9bn. Over the whole of 2008, the carmaker lost a record $14.6bn.

In addition, the company used up less of its cash. In the first quarter of 2009 it used up $3.7bn of its cash reserves, whereas in the final quarter of 2008 it used up $7.2bn.

A year ago, Ford had reported a first-quarter profit of $70m.

"Our results in the first quarter reflected the extremely difficult business environment and weak demand for autos around the world," said Ford boss Alan Mulally.

The carmaker has been slashing⁷（猛烈，苛刻） costs in an attempt to offset⁸（弥补，抵消） the slump in sales, and cut its debt obligations by $10.1bn during the quarter.

"Ford made strong progress on our transformation⁹ plan by gaining share with new products, reducing outstanding debt, lowering our structural¹⁰ costs and reaching new agreements with the United Auto⁶ Workers [union]," Mr Mulally added.

Ford Europe's market share rose to 9.4%, its highest level in nearly ten years, with the Ford Fiesta becoming the continent's best selling car in March, the carmaker said.

The overall quarterly loss for the European arm of the company was $550m, compared with a profit of $737m a year ago. Revenue was $6bn, down from $10.2bn.

Overall revenue fell to $24.8bn from $39.2bn in the same period last year.

Ford asserted（宣称） that it would "remain on track to meet or beat its financial targets".

These include at least breaking even in 2011, excluding special items.