Ford 2012 Annual Report Download - page 8
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6 Ford Motor Company | 2012 Annual Report
Going Further
In the coming year, we expect global growth to
continue, despite ongoing challenges in the external
environment. We anticipate global economic growth
in the 2 to 3 percent range, and global industry sales
of 80 million to 85 million units.
In North America, we expect our strong performance
to continue, and we anticipate higher pre-tax profits
than 2012, due to our strong Ford brand and products,
the growing industry, a lean cost structure and our
continued success in matching production with
demand.
Conditions in South America will be uneven, with
some countries experiencing growth while others face
increasing economic and political risks. We expect
results in the region to be about breakeven in 2013, as
the benefits of new global products will be tempered
by the competitive environment and currency risks
across the region that are expected to affect our
profits adversely.
Asia Pacific Africa also is expected to be about
breakeven in 2013, as growing volume and revenue
are offset by continued strong investment across the
region. This investment will pay off as we look even
further forward, and our goal is to have a full third of
our global sales in Asia Pacific Africa by 2020.
In Europe, we are working to deliver our European
transformation plan, but we expect weak economic
conditions in several markets to extend into 2013 and
industry volume to be lower in 2013 than 2012. As a
result, we expect to incur another substantial loss in
Europe in 2013. We believe that 2013 is likely the trough
for European industry sales volume, and we expect
industry sales volume and our results to begin to
improve in 2014.
Overall, we expect 2013 will be another strong year for
the Ford Motor Company with pre-tax operating profit
about equal to 2012, Automotive operating-related
cash flow to be higher than 2012, and pre-tax profit for
Ford Credit to be about the same as 2012.
Our proven One Ford plan put us on the path to
profitable growth, and we are confident it will keep us
on that path going forward.
As always, we thank you for your support of our efforts.
Alan R. Mulally
President and Chief Executive Officer
March 14, 2013
Nine hundred Ford employees formed a human Ford logo outside Ford World Headquarters to celebrate the return of the “Blue Oval”
and other assets that had been used as collateral to secure Ford’s revolving credit facility. The celebration took place on May 22, 2012
aer Fitch and Moody’s Investor Service restored Ford’s credit rating to investment grade.