Green Car Congress  
Go to GCC Discussions forum About GCC Contact  RSS Subscribe Twitter headlines

« Switzerland Proposes Crackdown on Particulate Matter | Main | Valence Expands Lithium-Ion Lineup »

Print this post

Ford NA Auto Ops Decline $3B from 2004 to Loss of $1.6B

23 January 2006

Ford2005
Ford Auto Operations, 2004–2005. Click to enlarge.

Ford Motor released its financials for 2005 today, reporting company-wide full-year after-tax income from continuing operations of $2.5 billion, a drop of 42% from the $4.3 billion in 2004.

Its North American auto operations was the most troubled unit, reporting a pre-tax loss of $1.6 billion for the year, a decline of $3 billion from 2004. Ford attributed the sharp drop and resulting loss to unfavorable cost performance, lower U.S. market share, lower dealer inventories and adverse exchange.

The North American auto group’s performance had improved in the fourth quarter relative to 2004, with a pre-tax loss of $143 million, compared to a pre-tax loss of $470 million in 2004. For the year, North America’s sales totaled $81.4 billion, compared with $83 billion a year earlier.

Financial Services remains the big money maker for the company. Financial Services Sector results include The Hertz Corporation through Dec. 21, 2005, the date on which it was sold.

For the full year, excluding special items, Ford's Financial Services sector reported a pre-tax profit of $4.4 billion, compared with a pre-tax profit of $5 billion last year. For the fourth quarter, excluding special items, the Financial Services Sector earned a pre-tax profit of $881 million, compared with pre-tax profits of $1 billion a year ago.

Ford today is releasing its 2006 Business Review, which will include details of the North America “Way Forward” restructuring plan.

January 23, 2006 in Sales, Vehicle Manufacturers | Permalink | Comments (2) | TrackBack (0)

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c4fbe53ef00d834a792a069e2

Listed below are links to weblogs that reference Ford NA Auto Ops Decline $3B from 2004 to Loss of $1.6B:

Comments

When production losses are combined with credit profits it looks like the auto companies are doing pretty good.



Fact is old plants only last so long and america is not the place you make things anymore. They are schedualed to close alot of plants here. and are opening plants in china fast...

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Green Car Congress © 2013 BioAge Group, LLC. All Rights Reserved. | Home | BioAge Group