Fleet News

Ford figures show improved efficiency

FORD of Europe was 'driving towards sustained profitable growth,' as a result of improved efficiency, reduced capacity and fixed costs and an acceleration of new models with 45 due over the next five years, according to Ford Motor Company president Jac Nasser, despite announcing profits for the second quarter of 2000 down from $206 million a year ago to $156 million.

Globally, Ford profits in the second quarter were a record $2.7 billion (1999: $2.48 billion). Ford Credit returned second quarter profits of $388 million, 16% up on 1999's period; and daily rental company Hertz reported record profits of $104 million, up 18%, of which Ford's share was $84 million.

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