Ford Posts Quarterly (4th - 2018) Loss Of $116 Million
DETROIT January 23, 2019; Automotive News reported that Ford Motor Co. lost $116 million in the fourth quarter, its first loss in two years, and its profit for all of 2018 fell by more than half as lower margins in North America combined with losses everywhere else in the world.
The automaker said tariffs and higher commodity costs added up to a $1.8 billion hit during the year, and it took an $877 million hit to pensions and other benefit funds when financial markets tumbled late in the year.
"It's not a year that we were happy with," Ford CFO Bob Shanks said.
But he argued that the company "made a lot of progress underneath the surface in North America" and has begun working to fix problems in Asia and Europe.