News Column

Ford Reports Rise in Q2 Income

July 24, 2013
ford fiesta
2014 Ford Fiesta (photo: Ford Motor Co.)

Ford Motor Co on Wednesday reported net income of 1.2 billion dollars for the second quarter of 2013, a nearly 200-million-dollar increase on the same time period the year before.

The profit came on 38.1 billion dollars in revenues, compared with 33.3 billion during the second quarter of 2012.

The company reported record profits in the North American, Asia Pacific and African markets and a return to profitability in South America.

"Our strong second quarter, with improved results in every region around the world, is another proof point that our One Ford plan is continuing to deliver and is building momentum," said Alan Mulally, president and chief executive of Ford.

The European market, however, saw losses of about 1.8 billion dollars. Nonetheless, that was better than earlier projections and an improvement upon figures for the same time period last year, it said.

Mulally said he expected the European division to be profitable by "mid-decade." However, the company is also going ahead with plans to shutter European factories, one each in Britain and Belgium.

The company said it expects full year profits to be equal to or higher than what it took in for 2012.

For more coverage on the automotive industry, please see HispanicBusiness' Auto Channel

Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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