Despite a rocky end to 2011, Ford has posted a full-year operating profit of $8.8 billion, marking $463 million improvement over 2010. Ford’s fourth quarter results were hurt by poor performances in Europe and its Asia Pacific Africa region.
Ford’s pre-tax operating profit fell to $1.1 billion during the fourth quarter of 2011, a decrease of $189 million from the same period a year earlier. The company’s fourth quarter net income ballooned to $13.6 billion during the quarter – a massive $13.4 billion increase over Q4 of 2010 – but most of that income can be attributed to one-time special items.
“We delivered strong results for the full year as we continued to serve our customers around the world with best-in-class vehicles and make progress toward our mid-decade goals,†said Alan Mulally, Ford president and CEO. “Despite the continued uncertainty in the external environment, the strength of our North American and Ford Credit operations allows us to continue to invest for future growth and develop outstanding products with segment-leading quality, fuel efficiency, safety, smart design and value.â€
Ford’s full-year income was $20.2 billion, the company’s highest since 1998, but the results could have been even better. Ford’s European operations lost $27 million in 2011 – compared to a $182 million profit the year earlier – and the automaker’s Asia Pacific Africa region lost $83 million, down from a profit of $23 million a year earlier.
Ford lost more than $30 billion between 2006 and 2008.
