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Ford Expects Big Profit Surge This Year
Ford Motor Co. CEO Mark Fields tells shareholder the company will deliver "breakthrough" results in the second half of 2015.
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Ford Motor Co. CEO Mark Fields tells shareholders the company will deliver "breakthrough" results in the second half of 2015.
Ford's net income plunged 56% last year as profits were weakened by the cost of launching a record two dozen new or updated models, including the company's best-selling F-Series pickup truck. Net profit dropped 7% in the first quarter of 2015.
Fields says profits will return as sales of the new models gain momentum. Last year Ford's pretax earnings fell 27% to $6.3 billion. The company predicts its pretax earnings in 2015 will total between $8.5 billion and $9.5 billion.
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