Ford managed to obtain profit this year

Posted on Wednesday, 24 April 2013 , 23:04:17 byIulia

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Ford managed to obtain profit this year

American carmaker, Ford, is doing very well until now according to its post which indicates a First Quarter Pre-Tax Profit of $2.1 billion. Their net income was $1.6 billion, or 40 cents per share, which indicates an increase of $215 million compared with 2012. The cash-flow for the quarter was $700 million with strong liquidity of $34.5 billion. These numbers have not changed from the end of last year. A record was registered with the North America pre-tax profit of $2.4 billion. This was the highest quarterly profit since at least 2000. If this was not enough, know that the American manufacturer also has a pre-tax profit for Asia Pacific Africa, but looses in Europe and South America. Ford Credit manages to continue its solid performance with a first quarter pre-tax profit of $507 million. Ford North America experienced strong growth in the first quarter, with wholesale volume up 17 % from the same period 2012, and revenue improving 20 %. For this entire year, the company will continue with the same guidance for North America. The specialists expect the strong performance to continue, with pre-tax profit expected to be higher than 2012. The decrease mentioned above in the pre-tax of South America was more than explained by unfavorable exchange, most of which related to Venezuela, including the impact of the devaluation of the Bolivar. The currency in Argentina has weakened and this was also a factor. Ford also made progress on cost efficiencies during the first quarter, including plans to restructure in manufacturing footprint within the region. Plans for Europe remain unchanged with the company expecting a loss of around $2 billion. Despite the unfavorable environment, the company is progressing toward its goal of a profitable, growing Ford Europe by mid-decade. Source: autoblog