Ford 2006 Annual Report Download - page 7

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What To Expect From Us
Ford Motor Company’s results in 2006 were
unacceptable. We had a full-year net loss of $12.6 billion,
or $6.72 a share.
As expected, we incurred a substantial loss in North
America in 2006, due to restructuring costs, lower volume
and a less profitable mix of products. South America and
Ford Europe both reported improvements in profits. Our
Premier Automotive Group reported a loss for the year,
but was profitable in the fourth quarter. Asia Pacific and
Africa reported a loss, while Mazda continued to perform
well. Financial Services, primarily Ford Motor Credit
Company, earned a pre-tax profit of about $2 billion.
We are moving quickly and making real progress,
but it will take time before our efforts are seen in the
bottom line. As we make this journey together, all of
our stakeholders can expect from us what I expect from
my team – respect, clearly stated goals and candid
assessments of our progress based on facts. We are
going to build a successful and sustainable business
that serves the needs of all its stakeholders and adds
value for its shareholders.
From my experience at Boeing I know it is difficult
to see the momentum growing in the early stages of a
corporate turnaround. But when you start with a solid
foundation of teamwork and an unwavering focus on
customers, the results can be dramatic. Ford Motor
Company already has a proud history from which to
gain perspective and inspiration, and many hopeful
developments to build on.
Ford F-Series was the best-selling truck in America
for the 30th year in a row in 2006, and car sales were up
for the second year in a row thanks to strong entries such
as Ford Fusion, Mercury Milan and Lincoln MKZ. Ford
Europe saw a sales increase of five percent in 2006, and
Ford Focus remains one of the best-selling cars in Europe.
Ford Motor Company affiliated brands had record sales
in China and India in 2006.
We are going to build on these successes and
add to them. While challenges lie ahead of us, we are
making continuous improvements to our plan so we
can capitalize on opportunities to create and sell more
products and save more costs. Our priorities, combined
with our sense of urgency, will continue to transform
Ford Motor Company.
In time, the results of our efforts will be more readily
apparent, and I look forward to sharing our success
with you.
Alan R. Mulally
President and Chief Executive Officer
March 7, 2007
Ford’s senior management
team has established
weekly meetings to
accelerate change.
Front Row (L to R)
Mike Bannister,
Mark Fields,
Alan Mulally,
Lewis Booth,
John Parker
Second Row
(L to R)
Bennie Fowler,
Charlie Holleran,
Joe Laymon,
Don Leclair
Third Row
(L to R)
Nick Smither,
Derrick Kuzak,
Ziad Ojakli,
Richard Parry-Jones,
Tony Brown,
David Leitch
5