Arab Today, arab today ford australia reports worst loss yet
Last Updated : GMT 00:35:33
Arab Today, arab today
Arab Today, arab today

Ford Australia reports worst loss yet

Arab Today, arab today

Arab Today, arab today Ford Australia reports worst loss yet

Sydney - Arabstoday

Ford Australia has reported its worst ever operating loss of $290 million, after two consecutive years in the black. The figure takes in an after-tax operating loss of $78 million and a one-off tax impairment of $212 million. Ford Australia says the tax-impairment is "related principally to tax losses generated in the current year and carried forward from prior years". Ford's last statement in the red was in 2008, at $274 million. A downturn in customer demand for large cars and constraints on supply of the all-important new Ranger model during the year was also costly, spokespersons admitted. At the same time, Ford Australia committed $282 million in research and development including projects related to the Ranger and some "which can't be talked about now," Ford Australia spokeswoman Sinead Phipps told motoring.com.au. "But they stand for an investment in our future," she said. "Reports will say we've been less profitable but our response is that if we hadn't committed investment, it would have been irresponsible." Ford Australia CEO, Bob Graziano (pictured) said his company had also consciously "walked away from less profitable business" over the past year. He said Ford Australia had remained focussed on delivering results to serve the global One Ford plan, including "leveraging Ford’s global assets" and accelerating development of new products "that customers want and value". Presumably that no longer includes the Falcon; allowing room for Ford’s small and medium offerings including Focus and Mondeo. Profitability on Focus also stands to do better now that source arrangements from Thailand have been confirmed. Ford's figures suggest a move away from large cars has affected the company's revenue from $3.3 billion down to $2.8 billion. "There is no doubt that the automotive industry remains very competitive and challenging. However, we continue to invest significantly in our business with an emphasis on more fuel-efficient vehicles and we saw positive share increases for Fiesta, Focus and Mondeo," said Graziano. "In addition to the five new vehicles we introduced in 2011, we started 2012 by announcing a further $103 million investment across Falcon and Territory and have also just introduced the new Falcon EcoBoost, which provides four-cylinder fuel economy with the performance feel of a six-cylinder vehicle. "We will continue to focus on driving profitable sales growth across our full range of vehicles and improving our business fundamentals as we move through 2012." Ford's announcement follows Holden's statement yesterday that the company was operating in the black despite a downturn in profit and revenue.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ford australia reports worst loss yet Arab Today, arab today ford australia reports worst loss yet

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Russia, Iran ink economic deals

GMT 08:03 2017 Wednesday ,29 March

Russia, Iran ink economic deals
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 11:55 2017 Wednesday ,29 March

Need ‘gymspiration?’ The top fun fitness bloggers

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 05:17 2017 Wednesday ,29 March

Samsung to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday