Mexican Media Brands
Ford Quarterly Operating Profit Falls, Net Income Soars
Ford Motor Co. hiked global sales 7% to 1.6 million vehicles in the fourth quarter of 2013.
#economics
Share
Ford Motor Co. hiked global sales 7% to 1.6 million vehicles in the fourth quarter of 2013. But operating profit plunged 24% to $1.3 billion (€952 million) because of investments related to growth and new products.
Revenue rose 4% to $37.6 billion (€27.5 billion) for the three-month period. Favorable tax items boosted the company's net earnings 88% to $3 billion (€2.2 billion).
In Europe, the company reduced its quarterly pre-tax loss 22% to $571 million (€418 million). Unit sales in the region slipped 3% to 318,000 vehicles, but revenue climbed 9% to $7.1 billion (€5.2 billion).
In North America, Ford's quarterly revenue advanced 2% to $22.5 billion (€16.5 billion). Unit volume grew less than 1% to 760,000 vehicles.
Results were mixed elsewhere. South America swung to a $126 million (€92 million) loss, as unit sales dropped 6% to 135,000 and revenue fell 13% to $2.7 billion (€2 billion).
In Asia-Pacific/Africa, pretax profit more than doubled to $106 million (€78 million). Unit sales surged 29% to 397,000, and revenue climbed 18% to $3.3 billion (€2.4 billion).
For the full year, Ford's pretax and net earnings rose 8% to $8.6 billion (€6.3 billion) and 26% to $7.2 billion (€5.3 billion), respectively. Revenue grew 10% to $146.9 billion (€107.5 billion) on sales of 6.3 million vehicles, up 12% from 2012.
Last year Ford narrowed its operating loss in Europe 11% to $1.6 billion (€1.2 billion).
RELATED CONTENT
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.