NEW YORK: US auto giant Ford Motor yesterday reported quarterly earnings that bested expectations as higher sales in North America and a smaller loss in Europe offset declines in South America.
Ford, the second-biggest US automaker, notched a 90 percent rise in fourth-quarter earnings thanks largely to a number of tax gains. Revenues rose 3.6 percent compared with the year-ago period.
“We had an outstanding year in 2013, demonstrating that our One Ford plan continues to drive solid results and profitable growth for all,” Ford Chief Executive Alan Mulally said in a statement.
Ford’s North America division, which accounts for nearly one-third of company sales, reported higher quarterly sales but nine percent lower profits due to lower prices and $300m in expenses associated with a recall of its Escape sport utility vehicle.
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