Ford Motor Co.’s profits fell 35 percent during the first quarter to $1.6 billion. The automaker attributed the drop to increased investment in trucks and SUVs and recall costs.
Its first-quarter pre-tax profit of $2.2 billion was down $1.6 billion from the same period a year ago when the Dearborn-based automaker had its best financial quarter in company history. The first-quarter slip will likely be the largest year-over-year slip for 2017, as the company expects to make $9 billion pre-tax profit in 2017, down from $10.4 billion last year, Chief Financial Officer Bob Shanks said Thursday. Results for the remaining quarters should have the company on track to meet projections.
Q1 2016 was an all-time record for Ford, nobody expected anything close to that, even before the revised downward guidance and looking where the money was lost/spent/invested it's even more-clear.
Nice to see Ford have sorted out its huge loss making European operations under Jim Farley, by injecting some charisma into its European line-up into what was a very bland unexciting line-up.
Ford of Europe now generates the biggest profits outside of North America, not surprising with great US cars like the Ford GT, Mustang best selling sports car in Europe & Edge, and Aussie designed Rangers sales charts heading skywards it is the best selling pick-up truck in Europe, they don't seem to be stuck with such a dull line-up as Opel Group.
Ford made a pre-tax profit of $176 million in Europe, where it posted its eighth-consecutive quarterly profit. It also made $124 million in Asia Pacific, despite a “tough quarter” for China, Shanks said.
Ford lost $244 million in South America and $80 million in the Middle East and Africa.
Ford vehicles have a lower jd power satisfaction rate than GM cars do. all that hype during the recession about ford not taking bailout money and how much better the cars were than GM was smoke and mirrors. Ford vehicles all of sudden didnt have better quality, they were the same.
Ford vehicles have a lower jd power satisfaction rate than GM cars do. all that hype during the recession about ford not taking bailout money and how much better the cars were than GM was smoke and mirrors. Ford vehicles all of sudden didn't have better quality, they were the same.
As mentioned previously by Ford, a lot of cash being invested in future projects.
Point of differentiation Ford vs GM:
Ford carries roughly $3 billion more debt than GM but about $8 Billion more cash and cash equivalent..
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Related Threads
?
?
?
?
?
GM Inside News Forum
3.5M posts
83.7K members
Since 2003
A forum community dedicated to GM owners and enthusiasts. Come join the discussion about General Motors news, concepts, releases, classifieds, troubleshooting, maintenance, and more!