Ford 2003 Annual Report Download - page 40

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38 FORD MOTOR COMPANY
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULT OF OPERATIONS
AUTOMOTIVE SECTOR RESULTS OF OPERATIONS
2003 COMPARED WITH 2002
Details of Automotive sector income/(loss) before income taxes and income/(loss) before income taxes excluding special items
for 2003 and 2002 are shown below (in millions):
Income/(Loss) Before Taxes
Income/(Loss) Before Taxes Excluding Special Items
2003 2003
Over/(Under) Over/(Under)
2003 2002 2002 2003 2002 2002
Americas
- Ford North America $ 165 $ 2,490 $ (2,325) $ 1,762 $ 2,490 $ (728)
- Ford South America (130) (622) 492 (130) (622) 492
Total Americas 35 1,868 (1,833) 1,632 1,868 (236)
International
- Ford Europe (1,626) (722) (904) (1,113) (549) (564)
- Ford Asia Pacific (25) (176) 151 (25) (176) 151
- Premier Automotive Group 164 (897) 1,061 164 (740) 904
- Other International 69 (15) 84 69 (15) 84
Total International (1,418) (1,810) 392 (905) (1,480) 575
Other Automotive (574) (1,211) 637 (623) (641) 18
Total excluding special items 104 (253) 357
Less: special items (2,061) (900) (1,161)
Total Automotive $ (1,957) $ (1,153) $ (804) $ (1,957) $ (1,153) $ (804)
Details of Automotive sector sales and vehicle unit sales for 2003 and 2002 are shown below:
Sales Vehicle Unit Sales*
(in billions) (in thousands)
2003 2003
Over/(Under) Over/(Under)
2003 2002 2002 2003 2002 2002
Americas
- Ford North America $ 83.6 $ 87.1 $ (3.5) (4)% 3,811 4,146 (335) (8)%
- Ford South America 1.9 1.5 0.4 27 209 195 14 7
Total Americas 85.5 88.6 (3.1) (3) 4,020 4,341 (321) (7)
International
- Ford Europe 22.2 18.9 3.3 17 1,595 1,561 34 2
- Ford Asia Pacific 5.8 4.4 1.4 32 353 300 53 18
- Premier Automotive Group 24.9 21.3 3.6 17 752 771 (19) (2)
- Other International --------
Total International 52.9 44.6 8.3 19 2,700 2,632 68 3
Other Automotive -1.1 (1.1) - ----
Total Automotive $ 138.4 $ 134.3 $ 4.1 3% 6,720 6,973 (253) (4)%
–––––––––––––
* Includes rental repurchase and Company vehicles sold at auction and excludes new and used vehicle
sales by our consolidated dealerships (consolidated beginning third quarter of 2003).
FIN33_72 3/21/04 5:39 PM Page 38