Ford 2014 Annual Report Download - page 49

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Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Continued)
North America Segment. The following two charts detail the key metrics and the change in 2014 pre-tax results
compared with 2013 by causal factor.
North America continued to benefit from robust industry sales, our strong product line-up, continued discipline in
matching production to demand, and a lean cost structure.
As shown above, North America’s full-year wholesale volume and revenue both declined 5% compared with 2013.
Operating margin was 8.4%, 1.8 percentage points lower than a year ago, while pre-tax profit was $6.9 billion, down
$1.9 billion.
For the full year, total U.S. market share was down 1 percentage point, primarily reflecting lower F-150 share as we
prepared for the all-new vehicle by balancing share with transaction prices and stocks, as well as a planned reduction in
daily rental sales. U.S. retail share of retail industry was down 0.6 percentage points.
43