Ford Motor Company Posts $2.6 billion Pre-Tax Profit In Q2 2014

#Ford, #Ford

DEARBORN, Michigan – Record market share in China and growth in the Asia Pacific region helped offset a 1 percent decline in wholesale volume at Ford Motor Company, which earned a pre-tax profit of $2.6 billion, up $44 million from Q2 of 2013. Europe and all other regions, except South America, were profitable for Ford in the last quarter.

Ford Motor Company’s net profit was $1.3 billion, or 32 cents per share, up $78 million over the Q2 ’13. Ford’s North American pre-tax profit of $2.4 billion for the quarter was a record, up $119 million from the year-earlier quarter, and its $159 million pre-tax profit in Asia Pacific was a record second-quarter profit for the region.

In Europe, Ford Motor Company posted a pre-tax profit of $14 million, its first quarterly profit there in three years, and an improvement over a $306 million pre-tax loss for the second quarter of 2013. Ford’s market share in Europe was off 0.2 points, to 7.9 percent, due to a reduction in fleet and rental share, the company said in its earnings report.

Ford Motor Company’s global revenue for the second quarter of 2014 totaled $37.4 billion, off $500 million from Q2 ’13. Ford’s first-half revenues totaled $73.3 billion, down $200 million, for after-tax net income for the first half of the year at $3.98 billion, down from $4.7 billion.

"Our One Ford plan continues to deliver, enabling us to reach our 20th consecutive quarter of profitability," Ford CEO Mark Fields (pictured) said in a statement.

Makes GM look like the POS of a company that they really are.

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