Ford 2012 Annual Report Download - page 28
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26 Ford Motor Company | 2012 Annual Report
Management's Discussion and Analysis of Financial Condition and Results of Operations
Ford Asia Pacific Africa 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 improved for 2012 compared with 2011. The improvement in 2012 pre-tax
results compared with 2011 is more than explained by higher net pricing, favorable volume and mix, and favorable
exchange, offset partially by higher costs associated with new products and investments to support higher volumes and
future growth.
Our market share in the region increased sequentially each quarter during 2012, with fourth quarter 2012 market
share at 3.4%, as we continued to benefit from increased capacity and new products. Further demonstrating the growth
we are experiencing in Asia Pacific Africa, since 2009, wholesale volume has about doubled, market share has improved
by half a point and net revenue has increased by about two-thirds even though our reported revenue does not include the
revenue of unconsolidated joint ventures in China.
For 2013, we expect Asia Pacific Africa to be about breakeven. We expect our volume and revenue growth in the
region to accelerate, supported by the launch of the all-new Kuga, EcoSport, and refreshed Fiesta across the region, as
well as the launch of Mondeo and Explorer in China. This will be offset in large part by continued strong investment
across the region to support our longer-range growth plans.