Used 1999 Ford Expedition Xlt 4.6l on 2040-cars

Auto blog

Ford reports $3B profit in Q4, $6.9B for the year

Good news out of Dearborn today, as Ford announced $3 billion in profit for the last quarter of 2013, a 90-percent increase over the same period of 2012. Net income for all of last year, meanwhile, jumped to $7.2 billion from $5.7 billion in 2012, while pre-tax profits sat at a decade-topping $6.9 billion for all of 2013.
The results of the substantial profit increases are bigger profit-sharing checks for UAW employees. How big? A record $8,800 on average for 47,000 UAW workers, making 2013 the biggest year for profit sharing in Ford history. In total, $414 million will be paid as part of the profit-sharing scheme.
Now, it should be pointed out that a fair portion of Ford's Q4 profits were due to tax benefits, totaling $2.1 billion, according to Automotive News. Total profits would have also been higher, had there not been a significant recall on the Escape, as well as plant issues in South America.

China takes lead as GM's No. 1 market

It's happened. General Motors' biggest vehicle market - at least in terms of new model sales - is China. According to TheDetroitBureau.com, GM and its various Chinese joint venture operations enjoyed a 10.6-percent sales increase in the first half of 2013, selling almost 1.6 million units in the market. That puts GM China about 200,000 units ahead of its US sales totals over the same period - this, despite indicators that the communist nation's economy is losing momentum.
TDB notes that like GM, rival Ford has also enjoyed a robust 2013 in China thus far, with its sales up a whopping 47 percent to 407,721 units sold - 75,254 of them in June alone. Between the two US automakers, passenger car sales for the first half of 2013 are up around 14 percent, well ahead of the rest of the industry's 10-percent growth estimates for the market. Some of the sales growth may come as a result of an overall anti-Japan sentiment in China, though the American brands have long outsold their Japanese counterparts in the country.
By The General's own predictions, China will only continue to grow in sales importance. The company has designs on selling over five million cars a year in the market before the end of the decade, a total that figures to dramatically widen the gap versus its US totals - even if America's auto market makes a full recovery to the the salad days of over 17-million units a year.

Ford shares falling on news of lower-than-expected profits next year

Ford has released projections for its 2013 profits, along with predictions of its 2014 earnings, and the news has forced the company's stock to stumble, falling over seven percent as of this writing. The Blue Oval is expecting earnings of $8.34 billion for 2013, although the bulk of that is coming largely from its North American operations, as troubles abroad continue to take a toll.
Calling 2013 an "outstanding" year, Ford expects its revenue to be up about 10 percent, thanks to gains in market share everywhere but Europe. But it's 2014 predictions that are causing stock prices to fall, as the Dearborn-based manufacturer expects pre-tax profits to fall to $7 to $8 billion, because of troubles in both Europe and South America, according to a report from Reuters. This is despite an expansion plan that will see it open an additional factory in the southern hemisphere, as well as two plants in China, all in a bid to launch 23 new or refreshed products next year.
The issues in South America aren't so much related to a fall in sales - Ford expects improved profits in Brazil and Argentina - but because of currency devaluations in Venezuela that are projected to cost it around $350 million. While that would still allow it to break even with 2013, Ford cites continued economic risks that could push losses even higher.