Ford 2013 Annual Report Download - page 27

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Ford Motor Company | 2013 Annual Report 25
Management’s Discussion and Analysis of Financial Condition and Results of Operations (Continued)
Asia Pacific Africa Segment. The charts below detail key metrics and the change in 2013 pre-tax results compared
with 2012 by causal factor.
Our strategy in Asia Pacific Africa continues to be to grow aggressively with an expanding portfolio of global One Ford
products with manufacturing hubs in China, India, and ASEAN.
As shown above, full-year wholesale volume and revenue improved 30% and 17%, respectively, compared with a
year ago. Operating margin was 3.5% and pre-tax profit was $415 million, both substantially improved from last year’s
results. The improvement in 2013 pre-tax results is explained by favorable market factors and other items, including
higher royalties from our joint ventures and insurance recoveries, offset partially by higher costs associated with
investments to support future growth, and unfavorable exchange.
Our market share in the region was a record 3.5% for the full year, up by 0.7 percentage points compared with 2012.
The improvement was driven by China, where our market share for the full year rose to a record 4.1%, up by 0.9
percentage points compared with 2012.
For more information visit www.annualreport.ford.com