Saturday, February 2, 2013

Ford posts strongest pre-tax profit in more than a decade

Ford posts strongest pre-tax profit in more than a decade

Paul A. Eisenstein, the Detroit Bureau

Ford Motor says, that made it the highest pre-tax earnings in the fourth quarter more than ten years. It earned $1.7 billion last quarter, largely due to increased sales of trucks and SUVs and higher prices for all models.
That was 31 cents per share, beat Wall Street forecasts, which ranged from 25 to 28 cents had.

For all 2012 profit for the year was $5.7 billion the automakers, down $307 million a year ago. It includes some special fees.

"The Ford team delivered strong results again underlines that our plan is working a Ford," said Alan Mulally, President and CEO Ford. "We are well positioned for another strong year 2013, as we our plan for customers in all markets of the world, with a whole family on - small, medium and large; Cars, utilities and trucks - fuel pump with the best quality, efficiency, safety, smart design and value. "

Sales totaled $36.5 billion last quarter, up $1.9 billion compared with the same period a year ago. For 2012 sales has become $134,3 billion, down $2 billion from a year ago.

TRUCK, sold mainly in North America, enough hard drove profits, were essential to overcome the European losses - and more than the manufacturers had forecast a few months ago.

The quarter Ford European loss of 732 million, against a loss of $190 million in the previous year. For all 2012, he climbed the European Ford loss to $1.73 billion. The automaker had forecast about $1.5 billion when it discussed in the third quarter results three months ago.

In North America, Ford said it has $1.87 billion in the quarter--twice as much as the $889 million it posted, a year earlier. Sales in the quarter amounted to $22.1 billion, up $2.5 billion.

The North American profit was $8,34 billion before taxes for the year.

Ford showed a preview of the 2015 F-150 at the Detroit Auto Show earlier this month, hoping to wait for prospects instead of buying General Motors new Chevrolet Silverado or GMC Sierra, to seduce sales the first half of this year.

Ford wanted to doubt in the minds of buyers now increase RAM pickup, expenditure for Chrysler Group revised for 2013 and earlier this month an award winner of the North American truck of the year by 49 U.S. and Canadian Auto journalists.

Ford had recorded a loss of $468 million in Europe last quarter and warned that losses were mounting. The automaker has announced to close three European plants, until 2014, but last quarter, that it would lose $1.5 billion in 2012 and this year again, and did not expect black ink said, Europe from about 2015 that.

Copyright 2013 the Detroit Bureau

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