Congratulations to the entire Ford team! The strong quarterly
financial results we are announcing today – with improved results in
every region – are more evidence that our One Ford plan continues to
deliver and build momentum.
Thanks to our efforts to serve our customers around the world and
deliver profitable growth, we are announcing solid volume, revenue and
market share increases in all regions. Importantly, we also are
improving our expectations and guidance for full year profit, Automotive
operating margin and operating cash flow.
Our second quarter earnings are driven by our highest second quarter
and first half North American profits since at least 2000, our best-ever
quarterly profits in Asia Pacific Africa, continued solid performance
from Ford Credit and a return to profitability in South America.
Our results also reflect more proof that our transformation plan in
Europe is on track to return to profitability by mid-decade, as Europe
improved its losses compared with a year ago and the first quarter.
We will continue our laser focus on serving customers with vehicles
delivering the best quality, fuel efficiency, safety, smart design and
value through our One Ford plan, 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
It is important for all of us to read the below news release and understand the progress we are making against our plan and our outlook for the future.
We will meet with financial analysts and representatives of the news
media throughout the day to discuss this information and answer
We also will discuss our results, accomplishments, challenges and
opportunities during today’s Global Town Hall at 11 a.m. EDT U.S. (12
p.m. São Paulo, 5 p.m. Cologne, 11 p.m. Shanghai).
Congratulations and thank you!
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