Congratulations to the entire Ford team for continuing to deliver our One Ford plan, serving our customers around the world and delivering profitable growth. Thanks to our efforts, we today are announcing strong quarterly financial results, built on solid growth in volume and revenue.
Our earnings are driven by our highest North American profit since at least 2000 – when we began reporting results for the region as a separate business unit – and continued solid performance from Ford Credit.
Our results reflect more proof that our investments in Asia Pacific Africa are paying off, as we post record first quarter market share in the region and in China. They also reflect continued implementation of our transformation plan in Europe – which is on track to return to profitability by mid-decade – as well as expanding our global product portfolio and working on all areas of the business for further improvement in South America, as we address the challenging business environment in that region.
We will continue to take advantage of opportunities and address challenges around the world by staying laser focused on 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 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 questions.
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).
One Team. One Plan. One Goal. One Ford.
Congratulations and thank you!