Ford Motor Co.'s international operations had a pretax loss of $353 million, led by a $249 million loss at Ford Europe and an $88 million loss at its Premier Automotive Group, its luxury arm that includes the Volvo, Jaguar, Land Rover and Aston Martin brands.
It was the first time the company broke out pretax earnings within its automotive business, a change required in part by accounting rules. Ford's North American business -- its Ford, Lincoln and Mercury brands -- reported pretax earnings of $1.2 billion.
Ford also released historical data showing that the Premier Automotive Group lost $897 million last year, and made just $8 million in 2001. Ford has said it expects PAG to eventually contribute a significant share of its earnings.