DEARBORN, Mich. (AP) — Ford earned better-than-expected profits in 2012 as record results in North America trumped losses in Europe. It will have to do even better at home this year as the losses in Europe mount.
Ford earned $5.66 billion for the year, down $300 million from a year ago, as a $1.75 billion loss in Europe took its toll. Earnings per share fell to $1.42 per share from or $1.51 per share.
But Ford reported a record pretax profit of $8.3 billion in North America, where sales rose and Ford made more money on every vehicle it sold. The company is planning to give out record profit-sharing bonuses of $8,300 to 45,800 workers based on its North American results.