24 October 2013

Improving Europe helps Ford post record profit

With shrinking European losses combined with strong results in North America and Asia, Ford Motor Company has posted a record third-quarter pre-tax profit of $2.6 billion, up $426 million from a year earlier.

Ford's operating loss in Europe narrowed to $228 million during the third quarter from $468 million a year earlier.

Ford expects its full-year loss in Europe to be lower than 2012's loss of $1.75 billion; it had previously said losses would match 2012.

The company expects to turn a full-year profit in 2015 in the region according to Stephen Odell, Ford's chief of European operations.