Ford reported a pre-tax profit of $8.8 billion for 2013 and almost all of that came from North America.
Predictably, Ford suffered in Europe, but still managed to end the year with a net income of $7.2 billion thanks in part to a strong fourth quarter where it pulled in $3 billion, which is 90 percent more than the same period a year ago. The company also saw boosts from favorable tax benefits and other one-time items that add up to $2.1 billion. Fourth quarter pre-tax profit for the company was $1.3 billion.
The brand will pay each of its hourly workers an $8,800 bonus as a result of the pre-tax profit as part of the UAW’s last round of negotiations. Approximately 47,000 employees will receive bonus payments.
“We had an outstanding year in 2013, demonstrating that our One Ford plan continues to drive solid results and profitable growth for all,” said Ford president and CEO Alan Mulally.
The report marks Ford’s 18th consecutive profitable quarter and possibly their best annual performance since 2000.
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