Ford books $2.6B pretax quarterly profit
Regionally, the Blue Oval performed strongly, as well. North America posted a record quarterly pre-tax profit of $2.4 billion, a $119 million increase. Europe also showed signs of turn around with its first profit in three years of $14 million after a loss of $306 million in Q2 2013. Ford is actually predicting profitability in the troubled region in 2015. Asia Pacific operations also performed well with $159 million in profits, up $29 million from last year. The only region where the business posted a loss was South America.
According to Automotive News, Ford also announced more precise plans about the changeover to build the aluminum-intensive 2015 F-150. In August, the Dearborn plant will shutdown for eight weeks to retool and its Kansas City plant will do the same next year.
For the end of the year, Ford predicts it's on track to meet its pretax goal of a profit between $7 and $8 billion. You can read the entire financial announcement in PDF format, here.
- Most and least efficient car companies
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models