Ford has achieved green numbers in North America only in the fourth quarter. In all other regions, the American automaker suffered losses, resulting in a net loss for the entire company that amounted 116 million dollars. In the same quarter a year earlier, Ford still had a net profit of 2.5 billion dollars.
Apart from disappointing car sales, Ford had to deal with additional pension payments of 877 million dollars. Without these and other one-off cost items, the company achieved an adjusted profit of 1.2 billion dollars.
The net profit for the whole of 2018 amounted to 3.7 billion dollars. That was 7.6 billion dollars in 2017. Turnover came to $ 160.3 billion this year against $ 156.8 billion a year earlier.
The American automaker has now announced measures. The company wants cut down the European division. There the company is going to make fewer models in fewer factories. In the United States, Ford announced similar measures earlier. Ford will also work with Volkswagen on the development of company cars and medium-sized pick-ups.
Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email [email protected]