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Ford reported a net income of $3.5 billion for 2004. Although this was seven times its 2003 profit, Ford's performance was more attributable to record results by its financing arm, Ford Motor Credit Company — which has a net income of $2.9 billion for the year, up $1.1 billion from 2003 — than its worldwide automotive operations, which earned a pre-tax profit of $850 million in 2004, up from $153 million a year ago.

Worldwide, Ford vehicle sales totaled 6.8 million units, an increase of 62,000 over 2003. But fourth-quarter sales slipped 133,000 to 1.8 million.

Ford also closed in on its full-year pre-tax profit goal of $7 billion by generating $5.8 billion in 2004. As part of its revitalization plan announced in 2002, Ford pledged to hit the $7 billion mark by 2006.

Other highlights included a turnaround by Ford of Europe, which recorded a full-year pre-tax profit of $114 million — up from 2003's full-year loss of $1.1 billion. And Ford increased market share in Europe, Asia Pacific and South America.

On the downside, Ford's Europe-based Premier Automotive Group — which consists of Volvo, Aston Martin, Land Rover and Jaguar — reported a pre-tax loss of $740 million, down from 2003's pre-tax profit of $171 million. The poor showing was blamed on a weakening U.S. dollar and a dismal performance by Jaguar.

C&D
 

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Well, they made money on cars, just not as much as they did with Ford Credit. Their financial arm definintly helped them. Automotive sector made 850 million dollar profit compared 153mill from a year back so a sizable improvement there as well. They'd have done better if PAG (volvo, Aston martin, Land Rover, Jag) wasn't pulling them down 740million and that's mostly due to Jaguars poor showing and the weak U.S dollar. Their PAG division would have done a lot worse if Volvo didn't make a tidy profit this year (only profitable PAG brand i believe).

Good thing they're making great progress financially (thanks mostly to finance sector), and their new products should help them regain some of the market share they lost with their aging car-line now that new and better products are being introduced into the lineup. Now, they need to unload their PAG brands like Aston Martin, Land Rover, and Jaguar or figure out a way to make them profitible because they're cutting into Ford bottom line for the time being and Jaguar has been on a financial decline for the last couple of years now.
 

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same like GM.....those poor souls that decided to buy using credit coz the deal sound soooo GOOD.
 

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AM and Rover are actually pretty close to breaking even, if not being profitable i believe. Jaguar is the one that really is pulling down FoMoCo.
 
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