Ford’s ‘94 Profit Hits Record High

Thu., Feb. 2, 1995

Compiled From Wire Services

Ford Motor Co. announced record profits of $5.31 billion for 1994 Wednesday, completing a sweep for the Big Three U.S. automakers - each earned more last year than ever before.

All three companies benefited from strong buyer demand that pushed the industry’s U.S. sales up 8.5 percent last year. The companies also felt the effects of their campaigns to cut costs and improve productivity.

Ford’s 1994 earnings topped its record of $5.30 billion set in 1988 and amounted to $4.97 per share. The world’s second-biggest automaker earned $2.5 billion, or $2.27 per share, in 1993.

In the fourth quarter, Ford earned $1.6 billion, or $1.47 a share, more than double its profit of $719 million, or 65 cents a share, a year ago.

The largest automaker, General Motors Corp., announced Tuesday that its 1994 profits were a record $4.9 billion. Chrysler Corp., first of the three to report 1994 results, earned a record $3.7 billion.

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Ford’s ‘94 Profit Hits Record High

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