Ford 2014 Annual Report Download - page 63
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Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Continued)
South America Segment. The following two charts detail the key metrics and the change in 2013 pre-tax results
compared with 2012 by causal factor.
As shown above, full-year wholesale volume and revenue both improved 8% compared with last year. Operating
margin was negative 0.3%, and the pre-tax loss was $34 million, both lower than positive results a year ago.
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