Ford Motor Company has announced a pre-tax profit of $8.6 billion for 2013, an increase of $603 million compared to the previous year and its highest full year automotive pre-tax profit in more than a decade.
The manufacturer also posted a full year net income of $7.2 billion, or $1.76 per share, including pre-tax special item charges of $1.6 billion and favorable tax special items of $2.2 billion. Ford made record profits in North America and Asia Pacific Africa, but, as expected, suffered losses in Europe.
As part of the UAW-Ford collective bargaining agreement, Ford North America pre-tax profits of $8.8 billion will generate profit-sharing payments of about $8,800 per eligible employee on a full year basis, the Detroit-based automaker added.
“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,” said Bob Shanks, executive vice president and chief financial officer. “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.”
Further details are available in the official press release below.
As part of the UAW-Ford collective bargaining agreement, Ford North America pre-tax profits of $8.8 billion will generate profit-sharing payments of about $8,800 per eligible employee on a full year basis, the Detroit-based automaker added.
“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,” said Bob Shanks, executive vice president and chief financial officer. “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.”
Further details are available in the official press release below.