Ford is making a profit in North America but losses in Europe
-Ford has announced a net profit of $ 1.6 billion and a turnover of $ 32.1 billion (-1%) in the third quarter. Automotive operations have generated an operating profit of $ 1.8 billion, up 33% year on year.
-These results are mainly generated by its operations in North America, where Ford has heavily restructured its operations in recent years. Ford records there an operating profit of $ 2.3 billion, representing a margin of 12% for this region sales, the highest since 2000.
-Finally, in Europe, Ford digs his loss to $ 468 million, against $ 300 million a year earlier.
In the first nine months, Ford recorded a loss of $ 1 billion in Europe with a negative operating margin of 5%. Ford expects to lose a total of $ 1.5 billion this year in Europe, a figure very close to that provided by GM for their own European branch.
-To reduce its losses and return to profitable growth, Ford announced last week the imminent closure of three factories in Belgium and the United Kingdom. This restructuring process affects 6200 employees, which represent 13% of its workforce in Europe.
