The Ford Motor Company announced today that it posted $1.2 billion in net income for the second quarter of 2013, up $193 million compared with a year ago. Total pre-tax profits of $2.6 billion are up $726 million compared with this time last year and this marks Ford’s 16th consecutive quarter of profitability.
This success is largely attributable to two key markets: North America, Ford’s top-selling market, and Asia Pacific Africa, which Ford says is the company’s fastest-growing region. In North America, sales were led by the 2013 Ford F-Series lineup which was yet again the top-seller in the strong pickup segment. In Asia Pacific Africa, Ford gained 1.5 percent in Chinese market share and gained 35 percent in revenue. Strong sellers for Ford in China include the 2013 Ford Focus, the 2013 Ford Kuga, and the 2013 Ford EcoSport.
Another element of this sales success is the Ford Motor Company’s One Ford plan, which Alan Mulally introduced upon being named CEO of the Ford Motor Company in 2006. The One Ford plan’s main goal is to integrate Ford’s global lineup, the results of which can be seen in the U.S. with models like the Ford C-Max, Focus, Fiesta, and Fusion, all of which are sold globally with minimal changes for different markets.
The European market has been a sore spot for Ford lately, but this quarter showed some progress, with the $348 million loss marking a $56 million improvement over this time last year and a $114 million improvement over the first quarter of 2013.
Still, with the strength of its key markets and the growth in Asian markets, the Ford Motor Company now says it expects total profits for 2013 to be equal to or higher than 2012, which saw a final pre-tax profit of $8 billion and a net income of $5.7 billion.
Source: Ford Motor Company