Ford profit drops in Q1

2014-04-27 02:30:53

(MENAFN) US auto giant Ford sales in North America market dropped in the first quarter of the current year, affecting its profit for the quarter, according to Arab News. The company posted a large drop in profit in the first three months of 2014 on bad winter weather, in addition to the unfavorable exchange rate in South America. Ford said: "While similar factors could occur in the future, it is unusual for items like these to occur in this magnitude in the same quarter." Its net income dropped by 39 percent in the first quarter to reach USD989 million compared to 1.6 billion in the first quarter 2013.

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Ford profit drops in Q1

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