Ford Motors shrugs off quarterly drop to cap 2016 on a high note

Ford Motors

There is still a lot of gas left in the tank of the US’ no.2 auto maker. Ford Motors capped its 2016 report on a winning note, weathering the fourth quarter storm, to log on its one of the most remarkable full year profits in the history, based on the corporate earnings released on Thursday.

Still on the Race

The giant automaker proved that it is still want of the frontrunners in the car making industry as it sped towards its $4.6 billion record for the previous year, with $9000 profit sharing checks rewarded to over 56000 hourly workers.

The firm swung to an $800 million loss last quarter due to the company’s new pension plans and its decision not to pursue a plant in Mexico but these losses were not enough to negate the company’s gain that has ticked more than $4 billion, backed up by a strong 9.7% truck sales in North America and better profitability in Europe.

The company revenue in three months ended in December was at $38.7 billion, a 2.3% climb from 2015’ $37.8 billion but was offset by the loss incurred in the non-cash accounting remeasurement and the safety recalls on door hatch issue, amounting to more than $600-million.

Investors digested the recent c financial report from Ford Motors but were all surprised and left with a lot of questions as the firm did not show comparisons between the two previous fiscal years.

Shares of the giant auto maker plunged nearly 1% on Thursday trading after the release of the data.


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