Ford Australia 2003 Profit a Six Year High!
Ford Motor Company of Australia Limited* has reported its highest profit in six years, announcing a net profit of $154.6 million for calendar year 2003.
Net sales revenue for the same period was an all-time record of $3.9 billion.
This compares to a 2002 profit of $20.4 million and net sales revenue of $3.2 billion.
The positive result was driven by total vehicle sales of 126,600, an increase of 17,400 over 2002. Total vehicle share was 13.9%, up 0.6 points from 2002.
"Our increased vehicle sales were primarily a result of the popularity of the award-winning BA Falcon," said Ford Australia President, Tom Gorman.
"More than 12,300 additional passenger vehicles were sold during 2003, bringing sales up to 89,500 from 73,200 the prior year. The majority of these additional vehicles are attributed to the BA Falcon, including the long wheelbase range that was launched midway through the year.
"The BA Falcon Ute continued to dominate its market segment during 2003, contributing significantly to increased light commercial sales of 32,400 vehicles, up from 30,500 in 2002."
Ford Australia produced 103,881 vehicles during 2003, incorporating 82,701 BA Falcon passenger vehicles (including wagon, Fairlane and LTD), and 21,180 Falcon utes. Of these, 7,914 vehicles were exported, primarily to New Zealand.
"Australia's car industry continues at record levels through the first three months of 04," says Gorman.
"Ford is poised to take advantage of the industry's momentum during the coming year. The recent launches of a 4-cylinder Escape and the award-winning European Fiesta have provided customers with new and exciting choices from our product line-up.
"In June we will launch one of the most significant new vehicles in the history of Ford Australia. The Ford Territory will combine the driving dynamics of a passenger car with the interior flexibility of a people mover. Territory will offer the command driving position of a 4WD and the potential to explore a little off the beaten track. It has all the attributes Australian consumers are looking for in their 'ultimate' vehicle."
Territory will be the first vehicle in Australia to be offered with a choice of All-Wheel-Drive or Rear-Wheel-Drive; it will be the first Australian vehicle to offer side curtain airbags as standard equipment on some models; and it will be the first Australian vehicle with stability control as standard on AWD models. Territory is on sale on June 1 2004.
* These financial results relate to Ford Motor Company of Australia Limited, Ford Sales Company of Australia Limited and Foral Service Proprietary Limited, and have been prepared in accordance with Australian Accounting Standards.