Ford wants to sustain North American high earnings in 2014

Article by Anita Panait, on November 9, 2013

Ford Motor Co. is seeking to maintain record earnings in North America in 2014, Joe Hinrichs, Ford’s president of the Americas, told Bloomberg in an interview. He remarked that sustaining profitability, market share growth, and keeping its lineup "the freshest in the industry" are all important goals for the carmaker.

He said that Ford wants to continue sustaining the performance they are having in North America. The Detroit 3 -- Ford, General Motors Co. and Chrysler Group LLC -- is trying to keep their pickups fresh since such vehicles earn higher margins than other offerings.

Large pickups are estimated to generate $8,000 to $10,000 each in gross profit, according to Morgan Stanley estimates.  Ford’s F-Series managed to widen their sales over GM and Chrysler pickups this year even as these rivals introduced redesigned models in the past year.

Barclays Plc said in an Oct. 25 report, citing an estimate from IHS Automotive, that Ford’s large-pickup production may fall 8.5 percent in 2014. Ford’s F-Series line has been the top-selling pickups in the US for more than three decades and accounts for the majority of the carmaker’s North American earnings.  Ford has yet to confirm if the new F-Series pickups are arriving in 2014.

The company will only disclose its next year’s plans “over the next couple months,” Hinrichs said. The company’s assembly site near Kansas City, Missouri, will prepare for the production of new trucks in March and April 2014, and shift to building them in November next year, according to Brian Johnson, an analyst at Barclays. He said that Ford will shut down its Dearborn truck plant in June 2014, citing IHS Automotive’s analysis.

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Topics: ford, north america

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