Steel Markets
Ford to Produce 15,000 Less Vehicles in North America During 4Q
Written by Sandy Williams
October 24, 2013
Ford Motor produced about 1.5 million units during the 3rd Quarter. This was 187,000 more vehicles than they produced during the 3rd Quarter 2012. In the 4th Quarter total production will be 1.6 million units which is 102,000 units higher than a year ago. However, this includes a reduction of 15,000 units from the company’s prior guidance for North America.
Ford Motor Company earned $13 billion in the third quarter, down 14 percent from 2012 due to a $250 million charge related to restructuring in Europe and a $145 million charge associated with its pension plan. Pre-tax profit was $2.6 billion—an increase of $426 million from 2012 and a record for third quarter. Strong North American sales continued for the quarter along with a combined profit for regions outside North for the first time since Q2 2011.
“We substantially reduced our losses in Europe, set a record third quarter profit in Asia Pacific Africa and saw a $150 million improvement in South America,” said Bob Shanks, executive vice president and chief financial officer.
Due to improved sales worldwide, Ford raised its full-year profit guidance and expects to exceed 2012 profits of $8 billion.
Sandy Williams
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