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Ford said the decline reflected lower sales volume, the sale of Jaguar and Land Rover units, changing product mix and lower net pricing.
Revenue climbed 11percentto to $41.1 billion, which Ford attributed to higher net pricing, changes in currency exchange rates and improved product mix.
"This improvement was primarily explained by favorable net pricing, lower materials costs, structural cost reductions, and improved market share," the company said.
Offsetting those factors, the company decreased fleet sales and had improvements in net pricing, though Ford and G.M. compute pricing differently.
"We expect our cost reductions will offset all cost increases, including rising pension and health care costs, as well as the deterioration in net pricing associated with higher incentives," said Ford Chief Financial Officer Allan Gilmour Allan Gilmour.
The information is expanded as well, including data about net pricing for low-income and high-income students, graduation rates, ethnic diversity, loan default and median income 10 years after a student started college.
Similar(52)
Estimated net price: negative $59,200.
Have you used a net price calculator?
Net price calculators are in their infancy.
How accurate are the individual colleges' net price calculators?
So the net price calculators should be used with caution.
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