Ford to record pre-tax re-measurement loss of $3bn in 2016
The Dollar Business Bureau American automaker Ford Motor Company said on Friday that it would earn a pre-tax remeasurement loss of around $3 billion associated to its pension plans and some other post-retirement benefits plans for employees. The US multinational said the remeasurement loss will not affect the company’s adjusted pre-tax gains or adjusted earnings for every share in 2016, and will be documented as a special item. Re-measurement is the term used for re-evaluation of the cost of an asset or liability on the financial statements of a company. The company will report its net profits on January 26, 2017. It reported the earnings of $0.26 per share in the past quarter where the expected earnings per share (EPS) by analysts were $0.2 a share. The difference between the ...
Ford looking for new partners to go beyond selling cars
The Dollar Business Bureau As a move to expand the company beyond selling and manufacturing of cars and trucks, the Ford company chairman Bill Ford said that they are considering more partnerships with other companies. After addressing a conference on entrepreneurship in Detroit, Ford said that they will witness lot more partnership in the industry which would be more than the usual amount of partnership seen in the auto industry. However, Ford did not disclose any new deals. The company’s management is still working on its strategy on self-designed cars, connecting the vehicle to the internet and also new transportation services such as sharing the ride. The Chairman said that more details regarding the same will be disclosed as the year goes on. At ...
Global car mfrs export more from India
Source: The Dollar Business Bureau The domestic market has not been too friendly for automobile manufacturers in India, but some of them found exports as a way to sustain this competitive and sluggish economic scenario. The automotive industry in India, one of the largest in the world, produced 23.37 million vehicles including passenger, commercial, three wheelers and two wheelers in the fiscal year 2014-15. The country is also a major exporter of automobiles. Automobile exports increased by 15% in the fiscal year 2014-15, over the previous year. In the last fiscal year 2015-16, India’s exports of passenger vehicles grew to 6.54 lakh units, an increase of 5.2%. During the FY 2015-16, Indian units of four prominent manufacturers of passenger vehicles shipped more cars ...
