Ford Profits Still on Track in Europe

Ford of Europe Chairman, Lewis Booth, has announced that Ford Motor Corp. is still on track to turn a profit in 2006 in spite of facing a challenging market.

Ford's profit in Europe for 2006 is expected in both pretax and after-tax levels. Ford of Europe and the Premier Automotive Group (PAG) posted a combined 2005 pretax profit of $36 million, excluding one-off items from a loss of $626 million in 2004.

Ford of Europe posted a full-year 2005 pretax profit of $136 million, while PAG had a 2005 pretax loss of $100 million.