DETROIT -- Ford of Europe and the Premier Automotive Group will make money in 2005, says Bill Ford.
The divisions are expected to break even at best this year. Asked if they will turn a profit in 2005, Bill Ford answered: "Yes."
He was speaking during an interview in Detroit with Automotive News, Automotive News Europe's sister publication.
"Our share in Europe is growing," said Ford. "When I look at how Ford of Europe has turned around dramatically, we've got a lot of the same players involved now in the Jag turnaround."
For Ford Motor Co. and the industry as a whole, Bill Ford said he expects a 2005 with results much like 2004.
Ford executives early in the year predicted that Ford of Europe would lose $100 million to $200 million (E77.5 million to E155 million) on a pretax basis for 2004. Ford of Europe is now on pace to do slightly better, Ford officials said in October.
PAG was expected to earn $500 million to $600 million in pretax profit, but a crisis at Jaguar ruined that plan. Jaguar lost nearly $800 million in the first half of 2004, sources have said.
PAG lost $366 million before taxes through the first nine months of 2004. In October, Ford officials predicted a break-even fourth quarter for PAG.