Today, we are meeting with financial analysts and the news media to review the substantial progress we have made as a team in 2013 and to provide a preview of what is to come next year. We are pointing out that we expect 2013 to be one of the best full-year results in Ford’s history. You can read the below news release (click here to view/print PDF of news release)
to see all of the news we are sharing today.
As we reflect on the past year, we can take pride in so many successes. In addition to our profitability, we increased market share in the world’s two largest automotive markets – China and the U.S – as well as in South America, thanks to the strength of our great products. We improved our retail car share in Europe, where our transformation plan is on track to return to profitability in 2015.
We were upgraded to investment grade by S&P, which means that four of the major rating agencies now rate Ford and Ford Credit as investment grade with a stable outlook. We also launched 11 vehicles globally, and the Ford Focus again achieved the distinction of being the world’s best-selling single nameplate.
On behalf of Bill Ford and the entire leadership team, thank you for these accomplishments and so many more! Each of you has contributed to our progress.
We expect 2014 to be another solid year for Ford Motor Company. We will introduce 23 all-new or significantly upgraded vehicles around the world – the most in our company’s 111-year history. Our manufacturing operations will expand more rapidly than any time in the past 50 years, and we will welcome 11,000 new hires to our Ford family in the U.S. and Asia alone.
As we told the financial analysts and news media today, it is critically important that we take the next steps of continuing to invest during 2014 for further profitable growth in 2014 and beyond. Doing so is absolutely the right decision for the long term. But combined with other effects expected in our business, it means 2014 total company pre-tax profit – at $7 billion to $8 billion – will be lower than this year
As always, the key to our success will be our working together and staying laser focused on serving customers in all markets with a full family of vehicles that offer the very best quality, fuel efficiency, safety, smart design and value through our One Ford, which remains unchanged:
• Aggressively restructure to operate profitably at the current demand and changing model mix
• Accelerate the development of new products that customers want and value
• Finance the plan and improve the balance sheet
• Work together effectively as one team, leveraging Ford’s global assets
Thank you and Happy New Year to each of you. We have so much to celebrate this holiday season, and we can look forward to working together to Go Further in 2014!