Ford North America contributes 89% of third-quarter pretax profit

Article by Anita Panait, on October 29, 2013

North America accounted for 89% or $2.3 billion of the Ford's pretax profit in the third quarter of 2013, pegged at $2.6 billion. Despite that, Ford executives are happy that their operations in South America, Asia Pacific and Africa, and Europe, logged a combined profit for the quarter for the first time since the second quarter of 2011.

Ford chief financial officer Bob Shanks remarked last week that Ford's three other regions moving in the right direction is what everybody has been waiting to see. He remarked that while there is "a lot more work to do," the progress is exciting.  Ford is particularly bullish on its operations in the Asia Pacific and Africa region, where it logged record market share (3.7%) and a record pretax profit in the third quarter of 2013 ($126 million).

Ford also grabbed a 4.3-percent market share in China, where the carmaker is in the midst of a building spree and new product offensive. The carmaker posted $159 million in pretax profit in South America in the third quarter of 2013, compared to just $9 million in 2012, and logged a 9.5-percent market share. The carmaker also managed to narrow its third-quarter losses in the economically battered Europe from $468 million in 2012 to $228 million this year, a 51-percent improvement.

Ford is currently restructuring its European operations based on the plan that turned around its business in the Americas. The move entails shutting down two sites in the United Kingdom and one in Belgium. Shanks remarked that GM has reached a level of stability in Europe, where signs indicate a very modest growth over the near term.

If you liked the article, share on:


Login or Create new account to add a comment!


Many have been excited with the impending arrival of the next-generation Jeep Wrangler and the new 2019 Jeep Grand Wagoneer, which is slated to be the brand’s new range-topping model....
by - October 21, 2016
Chevrolet has taken the wraps off its new Chevrolet Colorado ZH2 at the fall meeting of the Association of the United States Army (AUSA). Tagged as the most extreme fuel-cell-powered...
by - October 21, 2016
Honda has unveiled the fifth generation of its hot-selling SUV – the 2017 Honda CR-V. The latest iteration of the CR-V should help it maintain its benchmark status in the...
by - October 21, 2016
Many are already expecting BMW to launch an ultra luxurious SUV that will serve at its new flagship by late 2018. Larger than the X5 and X6, the new X7...
by - October 21, 2016
Most of you may have heard or already have one of those autonomous home appliances doing the house chores. Thus, it’s not anymore unusual to see a car going places...
by - October 20, 2016