Tomahawk, WI 02/06/2014 (BasicsMedia) – Ford Motor Company (NYSE:F) is the second largest automaker in the US. The company recently released its fourth quarter financial report for 2013, in which it announced much improved results than previously anticipated. According to the latest figures and reports, the fourth quarter financial results improved by 90 percent, which is a record of sorts, from the previous period. Ford Motor Company says that it owes the huge increase in earnings to the favorable tax gains it enjoyed from its operations in Europe, which may have a long-term effect.

However, although Ford Motor Company (NYSE:F)’s earnings surpassed $3 billion, it was not all good news. Whereas the company’s pre-tax profit from the same period a year ago was $1.68 billion, during the current quarter, it posted $1.28 billion. Perhaps, the situation could have been a bit different if the company had failed to raise $2.1 billion in tax gains from its European operations. These tax gains included deferred tax assets from its operations in Europe, which also increased substantially. In North America, stiff competition in the industry affected the pretax earnings.

Although Ford Motor Company (NYSE:F)’s earnings rose by record margins, this does not mask the fact that it endured huge losses in both Europe and South America. Without the special tax gains in Europe, the situation might have been much different from what Ford Motor Company reported. Its net income during the entire 2013 financial year was $7.16 billion, which was an increase of around 26 percent from the same period a year ago. The company’s board is pleased with the current financial report, and believes that 2014 will be a year of great results once it adds new products.

Ford Motor Company (NYSE:F)’s top executives have announced that it has plans to introduce new products into the auto industry in 21014, which will help to improve its financial results during the entire year. The company intends to keep serving its customers in all corners of the world with its wide range of products, which are among the most popular. Ford still has some way to go to catch up to General Motors, which is the largest automaker in the United States. Similarly, it needs to keep improving its services to stay ahead of the country’s third largest automaker, Chrysler.

The number one automaker in the US, General Motors, intends tom publish its latest earnings on February 6, 2014. On the other hand, Chrysler, which is the third largest maker of cars in the US, will publish its latest earnings report on February 5, 2014. Once the first and third largest makers of cars in the US publish their reports, it will be possible to evaluate Ford’s performance in detail, and see how it compares to the other two. Ford Motor Company has been on a great run in that this is the 18th consecutive quarter in which it has reported profits.

Ford Motor Company (NYSE:F) is reaping huge benefits because it decided to enter the global vehicle platforms. Although it expects 2014 to be one of its greatest years ever, the company has also announced that it understands this year will be marked with tighter margins as well as higher capital spending.

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