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Ford set to offset losses in Europe with profits in North America


08:17, January 30, 2013

CHICAGO, Jan. 29 (Xinhua) -- Ford Motor Co. said Tuesday that its profit in North America would be enough to offset its deepening losses in Europe in 2013.

With sales outlook deteriorating in Europe, Ford expects to lose two billion dollars there in 2013, worse than the 1.75- billion-dollar loss in 2012.

However, the No.2 U.S. automaker expects to earn more in North America in 2013.

Ford reported a pretax operating profit of nearly 1.7 billion dollars, or 31 cents per share in the fourth quarter 2012, better than the average analysts' estimate of 25 cents per share. This was also higher than the 1.1 billion dollars or 20 cents per share it earned a year earlier.

Ford's fourth-quarter revenue totaled 36.5 billion dollars.

Ford earned nearly 1.9 billion dollars in North America in the quarter, almost one billion dollars better than the fourth quarter of 2011. It lost 732 million dollars in Europe, worse than the 190- million-dollar loss it reported a year earlier.

Ford expects to enjoy a higher market share in both the United States and China in 2013. The company also looks to break even in Asia and South America this year.

In 2009, Ford avoided government bailouts needed by rivals General Motors Co and Chrysler Group LLC.

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