MarkFive Posted April 24, 2008 Share Posted April 24, 2008 Ford Posts a Profit Quote Link to comment Share on other sites More sharing options...
2005Explorer Posted April 24, 2008 Share Posted April 24, 2008 (edited) Just last night all the "experts" said they were going to lose money again this quarter. I just got a brand new '08 Fusion AWD last week so I did my part. Edited April 24, 2008 by 2005Explorer Quote Link to comment Share on other sites More sharing options...
inteller Posted April 24, 2008 Share Posted April 24, 2008 yes, and look at the cars they sell in Europe and South America. NOTHING like the boring dreck sold here. I think I will move to one of those countries that likes and buys Fords. Quote Link to comment Share on other sites More sharing options...
Noah Harbinger Posted April 24, 2008 Share Posted April 24, 2008 Just last night all the "experts" said they were going to loose money again this quarter. I just got a brand new '08 Fusion AWD last week so I did my part. Not to be a nit-picker, but you've done your part for the 2nd quarter results, that will be reported in July. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted April 24, 2008 Share Posted April 24, 2008 (edited) The profit came despite a $45 million pretax loss in Ford's core North American automotive market. That was an improvement over a $613 million loss in the year-ago quarter, driven by $1.2 billion in cost reductions that helped buffer a U.S. sales decline. Ford is doing a brilliant job in North America stemming losses in tight times! I hope they can keep Special Items under control, they show up in Q4 and wreck the books. North America: For the first quarter, North America Automotive operations reported a pre-tax loss of $45 million, compared with a loss of $613 million a year ago South America: For the first quarter, Ford’s South America operations posted a pre-tax profit of $257 million, up from $113 million a year ago. Ford Europe: For the first quarter, Ford Europe pre-tax profits were $739 million, up from $219 million a year ago. Volvo: For the first quarter, Volvo reported a pre-tax loss of $151 million, compared with a profit of $94 million a year ago. Asia Pacific Africa: For the first quarter, Asia Pacific Africa reported a pre-tax profit of $1 million, compared with a pre-tax loss of $26 million a year ago. Mazda: Ford earned $49 million from its investment in Mazda and associated operations in the first quarter, compared with $21 million a year ago. Other Automotive: Other Automotive, which consists of interest and financing-related costs, accounted for a first quarter pre-tax loss of $181 million. This included net interest expense of $472 million and favorable fair market value adjustments of $291 million, primarily related to the impact of changes in exchange rates on intercompany loans. Ford Motor Credit Company: Ford Motor Credit Company reported net income of $24 million in the first quarter of 2008, down $169 million from earnings of $193 million a year earlier. Automotive gross cash, which includes cash and cash equivalents, net marketable securities and loaned securities, was $28.7 billion at March 31, 2008, a decrease of $5.9 billion from 2007 year-end levels. The decrease was consistent with our plan and primarily reflects implementation of the initial part of our VEBA agreement with the UAW. Edited April 24, 2008 by jpd80 Quote Link to comment Share on other sites More sharing options...
03 LS Posted April 24, 2008 Share Posted April 24, 2008 Just last night all the "experts" said they were going to loose money again this quarter. I just got a brand new '08 Fusion AWD last week so I did my part. If I understand those "experts" correctly, they were estimating a loss of $300M BEFORE one-time charges. Instead, no, IN REALITY, Ford made $500M before charges. Just goes to show how much/less the "experts" really know. Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted April 24, 2008 Share Posted April 24, 2008 Goes to show just how blindly these "experts" predict things when they have no guidance from the company spelling it out for them. Encouraging to see the rapidly-shrinking losses in North America. VOLVO lost more money than Ford NA last quarter. And people want to keep them why? Ford must be a little concerned also with the rapid drop off in profits from Ford Motor Credit. Overall though, well done! :happy feet: Quote Link to comment Share on other sites More sharing options...
Roadrunner Posted April 24, 2008 Share Posted April 24, 2008 Encouraging to see the rapidly-shrinking losses in North America. VOLVO lost more money than Ford NA last quarter. And people want to keep them why? Technological purposes. Volvo seems to have brought some things to the table for Ford overall, even though the brand appears to be in a slump. Quote Link to comment Share on other sites More sharing options...
Roadrunner Posted April 24, 2008 Share Posted April 24, 2008 As far as Ford Motor Credit having less income: could this reflect the difference between haves and have-nots in who is buying Ford vehicles? If you're in a recession, why would you want to get tied up in a vehicle financing situation? If you're not greatly impacted by the recession, then it seems more hunky-dory. Could it be Ford is attracting higher-wage buyers that traditionally gravitated toward Japanese brands ? Or am I coming up with something faulty? Quote Link to comment Share on other sites More sharing options...
GlimmerTwinFan Posted April 24, 2008 Share Posted April 24, 2008 Don't tell me, let me guess. Executive bonus time must be approaching. Have to hit those benchmarks... Quote Link to comment Share on other sites More sharing options...
ironhorse Posted April 24, 2008 Share Posted April 24, 2008 Ford is in a position to really make money when the economy firms up,and gets moving again...fuel prices are the wet blanket on the economy....The company is getting their act together....FINALLY! Quote Link to comment Share on other sites More sharing options...
laserred02 Posted April 24, 2008 Share Posted April 24, 2008 This is good news. Ford seems to be in a situation to weather the economic storm. I bought a new Focus in March, my brother bought a fully loaded sable in April, and my parents are picking up a new Focus this weekend. So we are doing our part! Quote Link to comment Share on other sites More sharing options...
rkisler Posted April 24, 2008 Share Posted April 24, 2008 As far as Ford Motor Credit having less income: could this reflect the difference between haves and have-nots in who is buying Ford vehicles? If you're in a recession, why would you want to get tied up in a vehicle financing situation? If you're not greatly impacted by the recession, then it seems more hunky-dory. Could it be Ford is attracting higher-wage buyers that traditionally gravitated toward Japanese brands ? Or am I coming up with something faulty? Just a couple of guesses, but: Ford Credit's decline is more likely due to Ford's lower volume. Older loans (when Ford's volume was higher) are being paid off, and fewer new loans being initiated. This trend will continue until Ford's volume is stabilized. Also, Ford has reduced the amount of rebates and financing offers for new cars. When there is a low interest rate special, Ford Credit gets a bigger slice of the financing for new cars. Then there is a transfer of funds from Ford automotive to Ford Credit to pay for the rate subvention, so Ford Credit comes out ahead. But I think the major explanation is lower loan volume. Quote Link to comment Share on other sites More sharing options...
2005Explorer Posted April 24, 2008 Share Posted April 24, 2008 Not to be a nit-picker, but you've done your part for the 2nd quarter results, that will be reported in July. Yeah I guess you are right. Well hopefully they can make a profit again in the 2nd quarter. Imagine what the profit would look like right now if fuel prices were still low and F-Series were still flying out the door. Well I guess you play with the hand of cards you were dealt and for that I have to give Ford a lot of credit. I know some in the media still say Ford is the worst off of the Detroit 3, but actually I think Chrysler is the one that is going to be on it's knees begging for it's life in the near future. Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted April 24, 2008 Share Posted April 24, 2008 Technological purposes. Volvo seems to have brought some things to the table for Ford overall, even though the brand appears to be in a slump. Is a little bit of technology worth the money it will take to support the entire brand though? As I said elsewhere, it's not like Ford doesn't have their own R&D department. Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted April 24, 2008 Share Posted April 24, 2008 Interesting results to say the least. And I am pleased to note that FoE's profits are =FINALLY= where they should be for the volume of business Ford is doing there. In fact, if anything, the margins are unexpectedly high. Ditto Ford SA. If Ford can get NA ops consistently into the 5-7% operating margin range (as they appear to have done with FoE), that will be a real accomplishment. Quote Link to comment Share on other sites More sharing options...
Edstock Posted April 24, 2008 Share Posted April 24, 2008 The Silence of the Trolls. Quote Link to comment Share on other sites More sharing options...
Alcibiades Posted April 24, 2008 Share Posted April 24, 2008 loose money = spare change in pocket lose money = fail to make a profit. Quote Link to comment Share on other sites More sharing options...
2005Explorer Posted April 24, 2008 Share Posted April 24, 2008 loose money = spare change in pocket lose money = fail to make a profit. Thanks for pointing out my mistake. I fixed it. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted April 24, 2008 Share Posted April 24, 2008 The Silence of the Trolls. Can you still hear the trolls screaming Ed? Quote Link to comment Share on other sites More sharing options...
Sixt9coug Posted April 24, 2008 Share Posted April 24, 2008 Stock is up almost 15% right now as well. Makes me wish i bought a few months ago. Quote Link to comment Share on other sites More sharing options...
lfeg Posted April 24, 2008 Share Posted April 24, 2008 Good job, they are improving. With regard to product, I do not expect much different until after 2010, although there will be some new before then. The next trick is to be ahead of the curve when it comes to the new mileage requirements. And remember, an EXPERT (ex-spurt) is not much mere than a former squirt. Quote Link to comment Share on other sites More sharing options...
OAC_Sparky Posted April 24, 2008 Share Posted April 24, 2008 Stock is up almost 15% right now as well. Makes me wish i bought a few months ago. March 17th I bought shares at $5.00 Go, baby, go!! :happy feet: Quote Link to comment Share on other sites More sharing options...
battyr Posted April 24, 2008 Share Posted April 24, 2008 Stock is up almost 15% right now as well. Makes me wish i bought a few months ago. If the company has truely recovered the stock could easily go up 4 to 6 times in value over the next 5 years. If GM and Toyota cuts prices, sale drop more, Ford has to close more plants they will have a loss next 2 quarters. They company will hit new lows. If the MKS and Flex are a flop. They may not have a profit for the First quarter 2009. The stock will be worth a quarter or less than it is now. Ford has a huge potential for profit. Better to wait to see if 2 nd quarter beats the 1 st quarter. No need to be greedy for only 15 to 30 %. Quote Link to comment Share on other sites More sharing options...
2005Explorer Posted April 24, 2008 Share Posted April 24, 2008 (edited) It is amazing how negative some of the MSM articles are around the Internet on the fact that Ford made a profit. I mean the tone sounds good, but they always have to throw in a few negative lines here and there. It is almost like the US media is upset that they could not report "MASSIVE LOSSES AT FORD" "FORD MIGHT NOT MAKE IT THROUGH THE YEAR" Blah Blah Blah... It never fails to amaze me how much America can really hate itself. I mean it almost seems more "pro-american" to buy a Toyota anymore if you pay attention to the media. Edited April 24, 2008 by 2005Explorer Quote Link to comment Share on other sites More sharing options...
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