My thoughts on all things motoring, press releases, reviews & techie stuff, from around the world.
Please note that the pictures of vehicles within this blog are used as examples of the specific press releases, on occasions, due to the lack of available official pictures, examples are re-produced.
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I will try my best to provide detailed info on various cars and what is like to live with them, I have already produced a few for Jaguar-car-forums, I will do my best to be unbiased, but it will be hard for some cars. I will re-produce press releases and copy from other motoring news.
Tuesday, 1 November 2016
USA - Ford announces net imcome of $1.0Bn, down $1.2Bn from one year ago, profit and EPS are also down.
Net income $1.0B, down $1.2B from a year ago; Total company adjusted pre-tax profit $1.4B, down $1.7B
Earnings per share $0.24, down $0.31 from a year ago; adjusted earnings per share $0.26, down $0.26
2016 Guidance: Ford continues to expect total company adjusted pre-tax profit to be about $10.2 billion
Global market share of 7.5 percent, down one-tenth of a percentage point from a year ago
Ford Credit delivered best quarterly profit since 2011
Automotive segment operating cash flow $(2.0)B, down $4.8B from a year ago
Automotive segment pre-tax profit $1.1B, down $1.7B
Automotive segment operating margin 3.3 percent
Strong cash and liquidity including Automotive cash of $24.3B; cash net of debt $11.2B and total liquidity $35.2B
Launched first all-new F-Series Super Duty in 18 years, as well as the flagship Lincoln Continental; on track for 12 global product launches in 2016
Europe delivered $138M pre-tax profit, sixth profitable quarter in a row and best 3Q since 2007
Ford remains Europe’s best-selling commercial vehicle brand
Asia Pacific delivered a record 3Q pre-tax profit of $131M, up $109M from a year ago
Ford surpassed 1 million sales in Asia Pacific following record August sales
Ford Smart Mobility LLC invested in Zoomcar, the car-sharing leader in India
Distributed $600M to shareholders in a regular quarterly dividend
Global Lincoln sales up 17 percent from a year ago
Year-to-date, net income $5.4B, down 2 percent, and adjusted pre-tax profit $8.2B, up $53M
”This quarter, we delivered key elements of our growth plan by fortifying our core business with the launch of the all-new Super Duty pickup, transforming Lincoln with the new Continental and investing in emerging opportunities with the acquisition of the Chariot crowd-sourced shuttle service.
Importantly, we remain on track to deliver one of our best profit years ever.” Mark Fields, President & CEO.