Oakville Beaver, 30 Jul 1993, p. 7

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Ford Motor Company of Canada performed a $74 million turnaround and recorded a $14 million profit for the secâ€" ond quarter of 1993, according to figâ€" ures released by the company Consolidated sales in the second quarter totalled a record $4.6 billion, up $503 million from 1992. Vehicle sales were 248,200 units, up 9,200 units. Ford of Canada records $14â€"M secondâ€"quarter profit The Canadian Operations‘ results still marked a big improvement over a year ago. Canadian Operations recorded a loss of $6 million in the second quarter on sales of $3.9 billion compared to a loss of $48 million on sales of $3.5 bilâ€" lion in 1992. The improvement in earnâ€" ing reflected lower product costs, higher vehicle sales, and increased engine production. The unfavorable exchange While Ford Motor Company of Canada recorded a profit in the second quarter, the company‘s Canadian operaâ€" tions actually recorded a loss. The profit was largely due to the performances of the Australia and New Zealand operaâ€" tions â€" both owned by Ford Motor Company of Canada â€" which recorded profits of $20 million in the second cost effect associated with the decline in the Canadian dollar was a partial offset. While the Canadian Operations were still in the red, the figures, the $48 milâ€" lion turnaround was good news for Ford officials. £ "We are certainly pleased with the results," said Tony Fredo viceâ€"president of public relations for Ford of Canada. "We‘re still a long way from the profit Cw Although water is best because that‘s what the body needs, other drinks can help you meet your daily intake goal while adding variety: seltzer, juices, milk, herbal teas and decaffeinated coffee, tea and colas. Regular coffee, tea and colas and alcohol don‘t count toward your daily eightâ€"glass quota; they all contain diuretics, which trigger water loss. "Ford of Canada improved its share of both the car and truck market in Canada during the first half of 1993, reflecting strong consumer acceptance of our 1993â€"model vehicles," said James G. O‘Connor, President and Chief Executive Officer of Ford of Canada. levels of the eighties, but at least we‘re headirig in the right direction." ‘‘The company‘s dealers achieved a your Books! 17.9% share of car sales in Canada, a major improvement over the 16.6% share in the first half of last year," he added. "‘Ford of Canada‘s truck sales â€" including the Fâ€"Series fullâ€"size pickup, Ranger compact pickup, and Explorer sports utility vehicle â€" captured 25.7% of the truck market, up from 25.1%." Overseas operations in Australia and New Zealand earned $20 million in the second quarter, compared with a loss of $18 million in the same period last year. The improvement reflected primarily C higher vehicle sales and manufacturing efficiencies. > 3 to U For the first six months of 1993, the 2z company eaned $28 million on sales of $8.2 billion. In the same period of 1992, 1 the company recorded a loss of $179 8- million on sales of $7.3 billion. +

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