Next year, Ford will introduce more new cars and trucks to the market than it has in its history, but expects to see a decline in pretax profit.
The American automaker plans to introduce 23 new vehicles worldwide in 2014 and the cost of bringing those vehicles to market will affect its pretax profit for next year. Ford currently forecasts that it will earn $7 to $8 billion next year compared to an estimated $8.5 billion pretax profit this year.
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In addition to forecasting a drop in pretax profit, Ford also expects to see its automotive operating margin and cash flow decline compared to this year. In North America, Ford will be introducing 16 new vehicles next year.
As for current CEO Alan Mulally, who is a candidate to lead Microsoft, the automaker is continuing to work under the premise that Mulally will stay CEO through at least 2014.
“In 2014, we are investing across the world to support next year’s launches, but also to drive profitable growth beyond 2014 as we serve more customers in more markets and in more segments,” said Ford CFO Bob Shanks.
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[Source: Automotive News]
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