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Ford Posts Record $2.6 Billon Pretax Result for Third Quarter
Ford Motor Co. boosted revenue 12% to $36 billion in the third quarter of 2013, generating a record $2.6 billion in pretax results for the period.
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Ford Motor Co. boosted revenue 12% to $36 billion in the third quarter of 2013, generating a record $2.6 billion in pretax results for the period.
Net revenue fell 24% to $1.3 billion because of $498 million in special charges.
Ford, a late starter in China, says a 35% jump in sales volume there drove a 35% increase to 348,000 units in the Asia Pacific Africa region. Pretax profits climbed to $126 million (€91 million) from $45 million (€33 million).
A robust North American market accounted for most of Ford's improved results. Unit sales climbed 13% to 744,000 units, and revenue rose 12% to $21.7 billion. Pretax profit slipped 1% to $2.3 billion.
The company narrowed its losses in Europe by 51% to $228 million compared to July-September 2012. Unit sales in the region rose 5% to 310,000 vehicles, and revenue climbed 12% to $6.5 billion.
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