Ford 2012 Annual Report Download - page 25

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Ford Motor Company | 2012 Annual Report 23
Management's Discussion and Analysis of Financial Condition and Results of Operations
Ford North America Segment. The charts below detail key metrics, and the change in 2012 pre-tax results compared
with 2011 by causal factor.
As shown above, all four key metrics increased for 2012 compared with 2011. The increase in pre-tax profit for 2012
compared with 2011 primarily reflected favorable market factors, lower contribution costs, and lower compensation costs
(primarily the non-repeat of 2011 UAW ratification bonuses), offset partially by higher structural cost.
For the year, total U.S. market share was down 1.3 percentage points, while U.S. retail share of retail industry
declined 0.7 of a percentage point. The declines largely reflected the discontinuation of the Crown Victoria and Ranger,
capacity constraints, and reduced availability associated with our Fusion and Escape model changeovers.
For 2013, we expect the strong Ford North America performance to continue with higher pre-tax profits than 2012 and
an operating margin of about 10%. This reflects a growing industry, a strong Ford brand, an outstanding product line-up
driven by industry-leading refresh rates, continued discipline in matching our production with demand, and a lean cost
structure.
For more information visit www.annualreport.ford.com