Ford Motor
Country of Origin: USA
Unit Sales: 6.25 million
Number of Employees: 202,000
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After an annual revenue increase of 3.3 per cent for the fiscal year-end 2017, Ford Motor Company saw a significant drop in revenue for Q2 2018. The American auto giant’s net revenue fell 37 per cent due to significant sales drops in both China and Europe.
While those two regions continue to be trouble spots for Ford, sales in North America hold steady. An uptick in sales of higher-end trucks and sport-utility helped to drive revenue up by nearly 3 per cent, to $37.6 billion. This figure easily surpasses initial industry predictions.
The North American sales prove to be a bright spot for new Chief Executive Jim Hackett, who was hired in early 2017 and charged with implementing a turnaround plan. Hackett had set a goal of operating margins of 8 per cent by 2020, but the recent slumping overseas numbers have forced Ford to back away from that projection.
After an annual revenue increase of 3.3 per cent for the fiscal year-end 2017, Ford Motor Company saw a significant drop in revenue for Q2 2018. The American auto giant’s net revenue fell 37 per cent due to significant sales drops in both China and Europe.
While those two regions continue to be trouble spots for Ford, sales in North America hold steady. An uptick in sales of higher-end trucks and sport-utility helped to drive revenue up by nearly 3 per cent, to $37.6 billion. This figure easily surpasses initial industry predictions.
The North American sales prove to be a bright spot for new Chief Executive Jim Hackett, who was hired in early 2017 and charged with implementing a turnaround plan. Hackett had set a goal of operating margins of 8 per cent by 2020, but the recent slumping overseas numbers have forced Ford to back away from that projection.
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