Ford Posts Record Profits On The Back of 20% Sales Increase In North America
Ford (NASDAQ:F) reported an all time record pre-tax income of $3.8 billion for the quarter. North America contributed the bulk of that amount($3.1 billion) on the back of a 20% increase in unit sales. The strong transaction prices commanded by Ford in North America pushed gross margin up by 370 basis points and more than doubled net income for the company. Other notable points for the company included posting a respectable profit in Europe for the first time in many years. After having lost billions in the region between 2011 and 2014, the company reported a 6% sales increase for the quarter and a pre-tax income of $434 million at an operating margin of 6.3%. The company said that it was targeting a margin between 6% and 8% going for the region going forward.
Note: Key data highlighted in red.
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Notes:
1) The purpose of these analyses is to help readers focus on a few important things. We hope such lean communication sparks thinking, and encourages readers to comment and ask questions on the comment section, or email content@trefis.com
2) Figures mentioned are approximate values to help our readers remember the key concepts more intuitively. For precise figures, please refer to our complete analysis for Ford Motor
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