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Showing posts with label Ford Motor Company. Show all posts
Showing posts with label Ford Motor Company. Show all posts

Wednesday, May 2, 2018

This fanboi delivers a scathing rebuke to remind America this company is filled with lazy, chickenshit people who don't replicate internal successes and limit take-no-prisoner approaches to full-sized trucks and to the Mustang.   It is as if the rest of the company can go fuck itself because the same segment leading techniques that keep the company flush with cash in these two segments are never deployed through the rest of the segments.

Ford is a lazy company.    It will never anticipate a market segment except for the lone time it ventured into creating the pony-car segment from the Mustang.    That one moment in time was remarkable because the company deployed the then most market tested car ever, the Edsel, and picked a time during the national  economic downturn in the late 1950's.    And instead of improving the car and taking it into a direction where it could showcase its wares, the company pulled the plug early in 1960.

Edsel was never meant to be a one car effort.   It really wasn't a Ford since it was supposed to be slotted above Mercury where it would almost be a Lincoln, but not quite.    A little known fact is the Mercury Comet was slated to be an Edsel in 1960 and was pulled so quickly that virtually nothing was changed other than the badging.

The problem with Ford after the 1960's was that it wouldn't spend the money to make Mercury more than a Ford in a dress; as the 1970's rolled along, Mercury became a Ford with a bit of different styling but shared so much with Ford that ultimately Ford pulled the plug rather than to give Mercury its own identity.    So Ford cowardly sank Mercury and then did an idiotic thing by making Ford into Mercury and pushing its price points through the roof and virtually abandoned the low priced segment.   

Those who know the history of Ford is that this division was intentionally low rent - it was to capture customers who would then move up to Mercury as they aged and then into Lincoln as they prospered.

The cowardly killing of Mercury signaled that Ford is really the division that was murdered and Fords became Mercury and Ford abandoned appealing to regular working people who didn't want fancy and only had a limited budget.    So Ford is really a pathetic company.    It saw its only option as to rebadge a Ford to compete in the very same segment as a Mercury with a higher price and not so much of a value proposition - and Mercury  had been raped for so long that no one could remember Mercury was supposed to be more than just a retrimmed Ford.   Mercury had a purpose and it did work well from the 1950's to the 1960's.    It was the strangulation of the brand from 1972 onwards that ultimately killed the prestige of the brand.     Maybe Ford wasn't a coward here - maybe they were guilt of Munchhausen by Proxy and intentionally inflicted damage while whining the brand was sinking.

Ford has had some half-assed efforts - cheaply developed and supported by pulling the product off life support and then whining that the market  had left them.    Falcon, Maverick, Granada, Pinto, and Thunderbird are notorious examples of half-assed efforts that sank the nameplates (Falcon lived on in the land of Kangaroos because Ford actually built a great product and kept improving it).    Each product that Ford introduced here in name was a good idea to start, but executiion was remarkably obtuse.     Had Ford spent $100 on some or $200 on others, the cars could have been class best and remarkable.   Instead Ford never spent the needed money and just coasted while the products sold well only to sink from being unimproved in their later years.

Another classic Ford cowardly action was  the Ford Ranger.    Released as a remarkable now-developed in North America as a compact pickup, it was a tough miniature F-Series that just worked and was dependable.    But Ford really didn't do much to improve the product overall save for some cosmetic upgrades, but it really never did a total refresh in North America and allowed the product to strangle to death until it could no longer meet crash test ratings and it was canned.   Cowards!

Another interesting Ford Fubar moment was the situation of the minivan - which actually had its roots at Ford during the middle 1970's - Lee Iaccoca and his band of merry men knew that Ford had worked out much of the difficult points and took that concept to Chrysler when Iaccoca was fired from Ford and was brought onboard the Chrysler Titanic.    The minivan thus helped to save Chrysler when it launched it and Ford was left playing catch up with a moronic minivan built off the Ranger platform and it was heavy and fuel inefficient.  It was tall and it was not sexy.   But it did sell fairly well but Ford never went far with it and abandoned it to a front drive version built off the Taurus platform that ultimately was constantly playing catch up with Chrysler.   Instead of innovating, Ford played it safe.   And it never was a success and ultimately was canned because it was a mediocre piece of shit that never was more than a Chrysler but a version of one from three years ago.     Even the morons from the Duh sisters, Hon and Toyo, finally got their act together to build copies of Chrysler's products questionable differences, but they were made by the Duh sisters, and these idiots ate them up like the shit cakes they were.

So now we have Ford killing off most of its cars.   Yes, car sales are down, but there are companies with balls who continue to make them.    These makers are intent on stealing the segment for them and allowing cowards like Ford to abandon the market - and the sales that were given up on - in the case of Fusion, Ford is abandoning 200,000 units per year because they can't build a car that is competitive even though it sells well overseas.   Hell, even Buick sells bastards as Buick in America and never innovates anything here - you can rest assure that if it has a Buick nameplate in the USA, it is not a Buick at all - it is built and sold elsewhere as something else and is rebadged as a Buick for sale here.

I understand profitability - you must be solvent to continue to sell things (unless you are Tesla and being profitable has no bearing on your business plan).    Over at VW and Toyoduh, they have common automotive platforms that underpin their new car so development costs are spread over three nameplates at a minimum.    Then the cosmetics are changed with different upper structures and still Toyoduh can compete (well, when you build the ugliest shit on the planet, you are appealing to the blind and stupid and there is evidently a remarkable number of them who actually buy cars and drive them).

I'm calling out Ford because they are lazy and foolish and cowardly.   They have developed the original Taurus using the Truck strategy of being best in class, but Ford abandoned that system that caused the Taurus to be the best selling car in America and decided it was too much work and it cost too much to build the best.

Having worked for Dave Thomas at Wendy's and having actually met him and learned from him as a budding manager working my way up to a General Manager of a training store, I can say that you don't compromise on your core items and you keep things simple; sadly Wendy's is not very good these days because they do too much which waters down their goodness on core items.    Perhaps Ford should have pared down their cars to Focus and Fusion and Mustang, and then offered low priced options at all nameplates to give entry level people something to purchase.    Focus and Fusion could have shared the same platform - one short wheel base and the other a longer one.    Development would have been spread over two nameplates and the international versions would spread development costs further.   Interestingly this idiot company still builds the Fiesta, Focus, and Fusion (as Mondeo) overseas.    So this company has actually caused development costs for those vehicles to increase instead of sharing with America!

Thursday, April 26, 2018

I am a loyal Ford Motor Company customer.

I've owned nothing but Fords.

But today's news has sent me to divorce court where I'll forever avoid buying another new Ford again.

Today was the worst of news - Ford admitted it builds shit in cars and has no desire to put effort into building a competitive product - it said it will only offer 2 cars by 2021 - that is a lie - it will only offer one CAR.    The other fake car is a Focus that is really a CUV - it is a pathetic wide-mouthed bass version of a piece of shit made by Subaru (a company whose long term quality ranks right down there with Volkswegan with profound engine issues).

Ford once gave a flying fuck about little people and inexpensive cars.    Now it has given up building an option for most of America and has totally abandoned the subcompact, compact, mid-sized, and full-sized markets.    While Japan inc and the Duh sisters of Hon and Toyo offer uncompelling ugly dog piles on wheels that sell as well as can be expected in the era of the bloated CUV's and SUV's that clog our roads and tower over mortals in sedans, Ford has decided to raise a double middle finger salute to its customers who want cars; this move will likely add over $7k to the average price of a Ford because there will be virtually no low priced vehicle offered under $20k now.    And that piece of shit Ford Ecosport, even if it is redone, is as uncompelling as possible - and almost all vehicles in that class are garbage.

It is a sad day that Ford now becomes the coward of the country unwilling to compete in a tough market and decides to go where there are easy pickings for its over priced garbage.

And remember, I'm a Ford guy.

Aside from the superb F-series truck, and the new Lincoln Aviator and Navigator and Ford Expedition, Ford builds garbage.    The Mustang is fantastic, but seriously, who will buy one now that wouldn't buy it today?    There is no upside to the Mustang - it will continue to fester at sub 10k units sold per month.   

And there is very little good stuff coming - we've seen the complete piece of shit that is the new Ford Ranger - and then there is going to be a new Bronco - and then some tweaking of the existing fossil fuel thirsty barges.   There is precious little to like about what Ford has to offer.

Right now Ford has killed any hope that it could be competitive when gas prices increase significantly; oh, sure, this company will offer hybrid versions of its F-Series, Mustang, and some other models, but this is going to exacerbate the outrageous sticker prices that Ford will proudly claim that they've increased their average transaction price by $7k per unit.   

There is no reason to buy a Ford other than a Mustang or F-150.

Consider a Hyundai or Kia.   GM has nothing.   Honduh and Toyoduh haven't built a great product in over a decade.    And Nissan builds even worse garbage with CVT transmissions that fail repeatedly in the first five years.

Thursday, January 22, 2015

Thunderview News - thunderview.blogspot.com Thunderview News - thunderview.blogspot.com

Tuesday, January 28, 2014

Thunderview News - thunderview.blogspot.com
DETROIT -- Ford Motor Co. earned $3 billion in the fourth quarter, helped by a large gain from one-time tax items, and its full-year profit rose as U.S. sales and market share increased.

The automaker's pretax operating profit fell 24 percent to $1.3 billion, while net income was nearly double the $1.6 billion it earned in the same period a year ago. The results were affected by favorable tax special items of $2.1 billion and special-item charges of $311 million.

Ford posted net income of $7.2 billion for 2013, up from $5.7 billion in 2012. Its automotive operations generated a pretax profit of $6.9 billion on the year, the highest in more than a decade.

It was Ford's 18th consecutive profitable quarter.

Revenue increased 4 percent in the fourth quarter, to $36.3 billion, and 10 percent for the year, to $146.9 billion.

"We had an outstanding year in 2013, demonstrating that our One Ford plan continues to drive solid results and profitable growth for all," Ford CEO Alan Mulally said in a statement. "We are well positioned for another solid year in 2014."

Ford sold 2,485,236 vehicles in the United States in 2013, an 11 percent increase. Its U.S. share was 15.9 percent, up from 15.5 percent in 2012.

In North America, Ford earned a pretax profit of $1.7 billion in the fourth quarter, 9 percent less than the same period a year ago. But its full-year earnings for the region rose 5 percent to $8.8 billion, which the company said was a record.

The results mean Ford's 47,000 UAW-represented hourly workers will get profit-sharing checks averaging $8,800, or a total of some $414 million. That is the highest Ford has ever paid out to its workers for profit sharing. Last year's checks averaged $8,300.

"The company had an outstanding year, earning a profit that was higher than last year's strong performance and one of our best years ever," Ford CFO Bob Shanks said in a statement. "Our results were driven by record profits in North America and Asia Pacific Africa, improved results in Europe and another solid year from Ford Credit."

Ford’s operating margin in North America declined to 9.9 percent in 2013, from 10.4 percent a year earlier. It spent 27 percent more on Incentives in the fourth quarter than a year ago, according to Kelley Blue Book.
The company has said it plans to reduce production in the first quarter, and it idled some plants recently to help reduce inventories. Ford has also been hit by warranty costs for recalls on the Escape crossover and by reimbursing owners of the C-Max hybrid for overstating the car's fuel economy.

Ford’s fourth-quarter loss in Europe decreased to $571 million, from $732 million a year ago. On the year, it lost $1.6 in Europe, 8 percent less than in 2012. Europe is “on its way to profitability in 2015,” Shanks told reporters at Ford headquarters.

Ford generated automotive operating cash flow of $500 million in the fourth quarter, marking its 15th consecutive quarter with positive cash flow, and record cash flow of $6.1 billion for the year. It ended 2013 with $24.8 billion in gross cash, which is $9.1 billion more than its debt.

Ford previously warned that its profit margins would be lower in 2014 due to the costs of introducing new vehicles. It said pretax profits would fall to between $7 billion and $8 billion this year.

New products

The company is planning 23 product launches this year, including the Mustang and a redesigned version of its top-selling and most profitable nameplate, the F-150 pickup. It brought out 11 new products in 2013.

"This level of impending product activity suggests 2014 will be a critical year for the automaker with regard to branding and planning, but also a transitional year because many of these introductions will occur in late 2014," Karl Brauer, senior analyst with KBB, said in a statement.

"The full impact of a new, more advanced F-150 and Mustang, as well as the advanced drivetrain technology Ford is introducing, won't be known until well into 2015."

Ford showed off the F-150, which will have an aluminum body that helps make it about 700 pounds lighter and more fuel-efficient, at this month's Detroit auto show. How the truck is received in the market will have a significant effect on its profits this year.

"We give Ford credit for pushing the envelope with an innovative product that some would describe as potentially game-changing," Brian Johnson, an analyst with Barclays Capital, wrote in a report Monday. "However, with the new product comes a good amount of risk."

Monday, October 28, 2013

Thunderview News - thunderview.blogspot.com

To read more or to play with the 360 degree viewer of this awesome car, click here

Thursday, October 24, 2013

Thunderview News - thunderview.blogspot.com

Quarterly Highlights

  • Record third quarter pre-tax profit of $2.6 billion, an increase of $426 million compared with a year ago; 17th consecutive quarter of profitability; third quarter earnings per share of 45 cents, an improvement of 5 cents per share compared with a year ago.

  • Net income of $1.3 billion, or 31 cents per share, down $359 million, or 10 cents per share, compared with a year ago due to pre-tax special item charges of $498 million. Special item charges included $250 million for separation-related actions, primarily in Europe to support the company’s transformation plan, and $145 million associated with Ford’s U.S. salaried retiree voluntary lump sum payout program as part of its pension de-risking strategy.

  • Top-line growth with wholesale volume and total company revenue up 16 percent and 12 percent, respectively, compared with a year ago; growth supported by year-over-year market share gains in all regions; fourth consecutive quarter of top-line growth.

  • Record third quarter pre-tax profit for Automotive sector; continued strong results in North America and a combined profit for regions outside North America for first time since second quarter 2011; record third quarter profit for Asia Pacific Africa; profitable in South America; loss in Europe, but improved substantially from second quarter and a year ago. Ford Credit remained solidly profitable
    Record third quarter Automotive operating-related cash flow of $1.6 billion; 14th consecutive quarter of positive operating-related cash flow; strong liquidity of $37.5 billion, an increase of $400 million from the end of the second quarter.

  • First nine months pre-tax profit of $7.3 billion, an improvement of $1 billion compared with a year ago; first nine months net income of $4.1 billion.

  • Improved full year company financial guidance: Ford now expects total company pre-tax profit to be higher than 2012, improved from prior guidance of equal to or higher than 2012. Ford also now expects Automotive operating margin to be higher than last year rather than about equal. Ford continues to expect Automotive operating-related cash flow to be substantially higher than 2012

DEARBORN, Mich., Oct. 24, 2013 — Ford Motor Company [NYSE: F] delivered record third quarter 2013 pre-tax profit of $2.6 billion, reflecting continued strong performance in North America and a combined profit from the regions outside North America. In addition, Ford Credit remained solidly profitable.

Total company third quarter pre-tax profit of $2.6 billion was $426 million higher than a year ago. Third quarter earnings per share of 45 cents was 5 cents per share higher than a year ago.

Net income for the third quarter of $1.3 billion, or 31 cents per share, was down $359 million, or 10 cents per share, compared with a year ago due to pre-tax special item charges of $498 million. Special item charges included $250 million for separation-related actions, primarily in Europe to support the company’s transformation plan, and $145 million associated with Ford’s U.S. salaried retiree voluntary lump sum payout program as part of the company’s pension de-risking strategy.

Automotive operating-related cash flow was $1.6 billion, a third quarter record, marking the 14th consecutive quarter of positive performance. The company ended the third quarter with strong liquidity of $37.5 billion, an increase of $400 million compared with the end of the second quarter of 2013.

“Ford’s record results in the third quarter show the strength of our One Ford plan around the world,” said Alan Mulally, Ford president and CEO. “Working together, we remain committed to serving customers in all markets with a full family of vehicles, offering the very best quality, fuel efficiency, safety, smart design and value.”

During the quarter, Ford contributed $1.1 billion to its global funded pension plans, which included about $700 million of discretionary payments to its U.S. funded plans as part of the company’s pension de-risking strategy.

In the third quarter, the company settled about $700 million of pension obligations related to its U.S. salaried retiree voluntary lump sum program, and has settled $3.4 billion since the program began in August 2012. The lump sum program is about 80 percent complete and concludes at the end of the year.

Dividends paid in the third quarter totaled about $400 million.

AUTOMOTIVE SECTOR

Total Automotive third quarter wholesale volume and revenue were up strongly from a year ago. The higher volume reflects higher market share in all regions, improved industry volumes in all regions except South America and favorable changes in dealer stocks in all regions. The growth in revenue primarily reflects higher volume, as well as net pricing gains in all regions.

Third quarter operating margin, at 7 percent, was seven-tenths of a percentage point better than a year ago.

First nine months volume and revenue were higher than a year ago by 14 percent and 13 percent, respectively.

“North America continues to achieve strong profits and we saw significantly improved results outside North America,” said Bob Shanks, executive vice president and chief financial officer. “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.”

North America

For the sixth time in the last seven quarters, North America achieved a pre-tax profit of $2 billion or more and an operating margin of 10 percent or more. Third quarter pre-tax profit was about equal to last year’s record profit. Favorable market factors — volume and mix and net pricing — were offset, for the most part, by higher costs, including investment in new products.

Third quarter results were driven by a strong industry and a robust full-size pickup segment, along with Ford’s strong product lineup, U.S. market share growth, continued discipline in matching production to real demand and a lean cost structure — even as the company invests more in product and capacity for future growth.

Wholesale volume and revenue increased 13 percent and 12 percent, respectively, from a year ago. The volume improvement mainly reflects higher U.S. industry sales, favorable changes in dealer stocks and higher U.S. market share. Higher volume drove the revenue increase.

In the first nine months of the year, North America’s operating margin was 10.7 percent, five-tenths of a percentage point lower than a year ago, while pre-tax profit was about $7 billion, up about $600 million. Wholesale volume and revenue both improved 15 percent compared with 2012.

For full year 2013, Ford’s guidance for North America remains unchanged. The company continues to expect higher pre-tax profit compared with 2012 and operating margin of about 10 percent.

South America

South America continues to execute the company’s strategy of expanding its product lineup, while progressively replacing legacy products with global One Ford offerings. The company’s new products continue to perform well. Customer response to the Ranger pickup and refreshed Fiesta remains strong, and EcoSport and Fusion continue to be segment leaders.

South America’s pre-tax profit of $159 million in the third quarter was $150 million higher compared with the prior year. Market factors more than explain the improvement.

Wholesale volume and revenue increased strongly from a year ago, both up 22 percent. The higher volume reflects increased market share and favorable changes in dealer stocks. The growth in revenue was driven by the higher volume and net pricing gains, offset partially by unfavorable exchange.

South America’s first nine months volume, revenue, operating margin and profit all improved from a year ago.

The overall environment in South America remains uncertain, but given the company’s performance in the first nine months, Ford now expects South America to be about breakeven to profitable for the full year. This is an improvement from prior guidance of about breakeven.

Europe

n the third quarter 2013, Europe remained on track in executing its transformation plan.

Europe’s third quarter pre-tax loss of $228 million was $240 million better than a year ago, with all factors favorable, except costs associated with restructuring. Europe’s results have improved sequentially in each quarter this year.

In the third quarter, wholesale volume and revenue improved from a year ago by 5 percent and 12 percent, respectively, the second consecutive quarter of year-over-year top-line improvement. The volume increase reflects higher industry sales, lower dealer stock reductions than a year ago and higher market share. The increase in Europe’s revenue mainly reflects the higher volume.

Europe’s operating margin for the first nine months was negative 5 percent and the pre-tax loss was $1 billion, both about equal to a year ago, despite about $400 million of restructuring costs incurred this year and lower industry volume. Volume and revenue were up slightly from a year ago.

The company now expects its full year loss in Europe to be less than 2012. This is an improvement from prior guidance of a loss about the same as a year ago, reflecting the progress the company is making on its Europe transformation plan.

Asia Pacific Africa

Ford’s strategy in Asia Pacific Africa is to grow aggressively with an expanding portfolio of global One Ford products tailored for the region and with manufacturing hubs in China, India and ASEAN. Implementation of this strategy continues to gain momentum.

In the third quarter, Asia Pacific Africa reported its fifth consecutive quarterly profit with pre-tax results of $126 million, an improvement of $81 million compared with a year ago. Third quarter results reflect favorable top-line factors, offset partially by higher costs, as the company continues to invest for further growth.

In the third quarter, wholesale volume was up 35 percent from a year ago, and revenue, which excludes the company’s China joint ventures, grew 7 percent. The higher volume reflects mainly improved market share, with higher industry volume and favorable changes in dealer stock also contributing. Higher revenue primarily reflects favorable volume and mix.

Asia Pacific Africa’s third quarter market share was 3.7 percent, six-tenths of a percentage point higher than a year ago and a quarterly record. The improvement was driven by China, where Ford’s market share improved eight-tenths of a percentage point to equal last quarter’s record of 4.3 percent, reflecting mainly strong sales of the Kuga, EcoSport and Focus.

For the first nine months, volume, revenue, operating margin and profit all improved from a year ago.

Ford’s guidance for Asia Pacific Africa is unchanged. The region is expected to be profitable for the full year.

Other Automotive

The third quarter loss of $139 million in Other Automotive reflects net interest expense, offset partially by a favorable fair market value adjustment on the company’s investment in Mazda.

For the full year, Ford now expects net interest expense to be at the lower end of its prior guidance of $800 million to $850 million.

In the third quarter, Ford produced about 1.5 million units, or 187,000 higher than in the third quarter of 2012, reflecting higher volumes in all regions.

In the fourth quarter, Ford expects total company production will be about 1.6 million units, 102,000 units higher than a year ago. This includes a reduction of 15,000 units from the company’s prior guidance for North America.

Ford Motor Credit Company

Ford Credit’s third quarter profit of $427 million improved $34 million from a year ago, more than explained by higher volume in North America. The drivers of higher volume were an increase in leasing, reflecting changes in Ford’s marketing programs, as well as higher non-consumer finance receivables due to higher dealer stocks.

Ford Credit remains key to Ford’s global growth strategy, providing world-class dealer and customer financial services, maintaining a strong balance sheet, and producing solid profits and distributions.

For full year 2013, Ford Credit continues to expect pre-tax profit to be about equal to 2012. Ford Credit now expects year-end managed receivables of about $100 billion, which is within the prior range of $97 billion to $102 billion, and distributions of about $400 million, up from $200 million previously planned, reflecting a fourth quarter reduction in Ford Credit’s tax liability.

Other Financial Services

The third quarter loss of $64 million for Other Financial Services primarily reflects charges related to the sale of a portfolio of finance receivables that was not included in the company’s sale of the Volvo auto business in 2010.

Wednesday, July 24, 2013

Thunderview News - thunderview.blogspot.com

Automotive News -DETROIT -- Ford Motor Co., buoyed by strong U.S. auto sales, said second-quarter net income rose 19 percent to $1.23 billion while lowering its forecast for losses in Europe this year.The company said its North American business set second-quarter and first-half records for pre-tax profits -- $2.3 billion and $4.8 billion respectively.

The automaker now expects its losses in Europe to total $1.8 billion, on par with 2012 levels and lower than the $2 billion loss the company previously predicted.

Ford's quarterly pretax profit surged 40 percent to $2.56 billion, as revenues rose 15 percent to $38.1 billion.

"Our strong second quarter results in every region around the world is another proof point that our One Ford plan is continuing to deliver and is building momentum," CEO Alan Mulally said in a statement.Ford is on track to post its fifth straight profitable year after losing $30.1 billion from 2006 to 2008.

Ford's North American pretax operating profit rose 16 percent. Pretax results in the Asia Pacific Africa region swung to a profit of $177 million, a record for any quarter for the region, from a loss of $66 million a year earlier.

Europe improves

Like other carmakers, Ford continues to struggle with the ongoing recession in Europe. Ford's pretax losses in Europe narrowed to $348 million from $404 million a year ago.

Ford revised its U.S. industry volume guidance to the higher end of its previous forecast. Ford previously predicted industrywide sales of 15 million to 16 million units for 2013, but now forecasts the total will be 15.5 million to 16 million. The figures include medium- and heavy-duty trucks.

In other upward revisions, Ford says it now expects its full-year pretax profit to be equal to or greater than 2012 and automotive operating margin to be equal to 2012 with automotive operating-related cash flow to be substantially higher than 2012.

"It was a very, very strong quarter for Ford Motor Co. right across the entire business," CFO Bob Shanks told reporters today. Shanks said the quarter is a "green shoot" in the company's efforts to get more balanced revenues from other regions outside North America.

"We're at the beginning of a phase where we begin to see operations outside North America take on more significance. If you take the operations outside North America, including South America, Europe and Asia Pacific, they're about breakeven," Shanks said. In the first quarter, those operations lost over $600 million.
Ford's restructuring steps in Europe have included closing three factories and cutting 6,200 jobs.

On a visit to Detroit this month, Ford of Europe President Stephen Odell told reporters the European industry may have hit bottom. "We're not predicting any upturn yet, but there are certainly some good indications," he said. "Our prediction would be that we're at or close to the trough. We don't see any further decline at this point."

Ford's North American results marked the fifth time in the last six quarters with a pretax profit of $2 billion or more, and an operating margin of 10 percent or more.

Ford's performance has gotten a boost from strong U.S. sales of the Fusion mid-sized sedan and Escape compact crossover. Both received redesigns for the 2013 model year. Unexpectedly strong sales of pickups across the industry have also lifted Ford, whose F-series pickup is the best-selling vehicle in North America.

In South America, Ford's operating profit jumped to $151 million from $5 million last year. The company's financial services operations, dominated by Ford Motor Credit, posted pretax operating profit of $451 million, up 1 percent.

Comment - Based on monthly sales reports, Ford's sales are growing faster than Government Motors' on a consistent basis.   It is not out of the question that Ford could outsell Government Motors in a monthly sales report this year in the United States and outsell Government Motors for the calendar year of 2014.   This makes the investment in Government Motors to be one of the worst ever.