OAKVILLE, Ont., Jan. 21, 2003 – Ford of Canada posted annual revenues of $23.3 billion in 2002, an increase of 7.9 percent compared to $21.6 billion in 2001.
The year-over-year improvement was the result of increased vehicle sales at the company's 502 Ford and Ford-Lincoln dealerships, along with gains in the production of engines and vehicles. Company president & CEO Alain Batty said Ford of Canada is poised for continued growth in 2003.
"Ford of Canada is moving forward. In 2003 we will continue to emphasize back-to-basics business fundamentals – such as dealer profitability, improved sales and great products, while doing our part to further the objectives of Ford's North American revitalization plan," he said. The company's 2002 operational highlights included:
Ford's Windsor operations continued as the company's global centre of engine operations. Both Windsor Engine Plant and Essex Engine Plant produced 1.25 million engines in 2002, up 10.6 percent compared to 2001.
Ford's three Canadian assembly plants produced 515,000 vehicles, a 2.7 percent increase compared to 2001. Four of the five product lines produced at these plants are exclusively made-in-Canada (and nowhere else) for customers around the world, including Ford Windstar, Ford Crown Victoria, Mercury Grand Marquis and Mercury Marauder.
In 2002, Ford F-Series earned the title as Canada's best selling pickup truck nameplate for the 37th straight year. As well, Ford Explorer became Canada's number one SUV for the sixth consecutive year. In all, Canadians purchased 258,807 Ford and Lincoln vehicles last year, an increase of 2.8 percent versus 2001.
Throughout 2002, Ford of Canada made significant investments in its operations, including:
The opening of the company's all-new 16,650 m2 (185,000 ft2) Canadian headquarters in Oakville;
Launch production of Triton 3-valve V-8 cylinder heads and engines in Windsor, following the completion of a 70,200-m2 (780,000-ft2) facility expansion costing nearly $770 million;
A multi-year, $600 million injection in the Oakville Assembly Plant for the eventual production of the new 2004 Ford Windstar and Mercury Monterey minivans.
Ford of Canada also made gains in its customer satisfaction scores during 2002. Overall purchase satisfaction was up 5 percent, as 75 percent of Ford customers reported complete satisfaction with the sales experience. As well, the company saw a 3 percent increase in the percentage of customers who would recommend their Ford or Ford-Lincoln dealership to others. In 2002, 87 percent of customers said they "definitely would" recommend their Ford dealer to someone looking to buy or lease a vehicle.
Ford of Canada’s operations include a national headquarters, six regional offices, six vehicle assembly and engine manufacturing plants, two parts distribution centres, and affiliates including Ford Credit, Jaguar, Volvo, Land Rover and Hertz. Ford employs more than 16,000 people, while an additional 21,000 are employed in the 502 Ford and Ford-Lincoln dealerships across Canada. In 2002, revenues for Canadian operations were $23.3 billion, making Ford of Canada one of the country's largest privately-held companies. Since 1990, Ford has invested nearly $9.5 billion in its Canadian operations. For more information, please visit www.ford.ca.
[Ford of Canada’s profit information is incorporated in the consolidated reporting by Ford Motor Company, which is also being released today (please visit media.ford.com). The 2002 and 2001 revenue figures above reflect Ford’s Canadian-based operations, and do not include Ford of Canada’s ownership of companies including Ford of Australia, Ford of New Zealand and Ford Lio Ho Taiwan].