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Ford expects to lose USD2b in Europe in 2013  Join our daily free Newsletter

MENAFN - 30/01/2013

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(MENAFN) Ford Motor Co. announced that it forecasts to lose USD2 billion in Europe during the current year, compared with a loss of USD1.75 billion in 2012, reported Xinhua News.

However, the carmaker expects to offset the loss through posting high profits in North America, and projects to control a higher market share in both the US and China and to break even in Asia and South America.

The US second-biggest car manufacturer that managed to avert government bailouts needed by rivals GM and Chrysler in 2009, posted a pretax operating profit of around USD1.7 billion in 2012's fourth quarter, up from USD1.1 billion in 2011's same period.

Its quarterly earnings in North America reached USD1.9 billion, higher by nearly a USD1 billion from 2011's same period, nevertheless, it lost USD732 million in Europe, compared with a loss of USD190 million a year before.

It is worth noting that Ford's revenue in the quarter reached USD36.5 billion.

 






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