Revenue improves for Ford of Canada
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Ford of Canada posted annual revenues of $23.3 billion in 2002, an increase of 7.9% compared with results for 2001.
Ford of Canada posted annual revenues of $23.3 billion in 2002, an increase of 7.9% compared with results for 2001. Globally, Ford Motor Co. didn’t fare so well, reporting a loss of US$980 million for 2002. Worldwide revenue was US$162.6 billion, an increase of 1% from a year ago.
In Canada, the increased revenue is attributed to higher vehicle sales, plus gains in the production of engines and vehicles. Ford’s Windsor operations continue as the company’s global centre of engine operations. The Windsor engine plant and Essex engine plant produced 1.25 million engines last year, up 10.6% from the previous year.
During 2002 a multi-year $600-million investment for the Oakville assembly plant was announced. This will prepare the plant to produce 2004 Ford Windstar and Mercury Monterey minivans.