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US consumers, thanks to the return to cheap fuel, are gravitating back in droves to SUV-Crossovers and Pick-Ups. Given that these vehicles stand out as the most profitable vehicles most car makers sell, couldn’t fail but lift Ford’s US automotive profit balloon into new record orbit. For last year Ford reported a 48.1 per cent jump in pre-tax profits to a record $10.8bn and a company pre-tax margin of 7.2 per cent, rising to a sky-high 10.2 per cent for Ford’s North American region, the major source of last year’s bumper profits While US carmakers, their suppliers and vehicle importers were probably toasting last year’s success with champagne in what eventually turned into an all-round bumper year, dejected US oil industry bosses were probably drowning their sorrows at cheap bars. The contrast in the prevailing mood of US auto- and senior oil-industry bigwigs could barely be sharper. True to the maxim that someone’s pains are someone else’s gains, US carmakers and importers appear to have drawn huge benefits from the prevailing pains now suffered by the oil industry...more MORE LIKE THIS: | US Light-Vehicle market on course for bumper 17m plus sales this year 11 Jan 2016
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