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.
Chief Financial Officer Bob Shanks said Ford expects even higher results for North America this year, as demand for Ford's pickups and its newest products – the Escape small SUV and Fusion sedan – will likely grow. But Shanks said Ford now expects to lose $2 billion in Europe, up from the $1.5 billion loss it predicted a few months ago.
"Europe will hit bottom this year," Shanks said. He said the company is on track with a plan to close plants and introduce new vehicles in the region. Ford's sales fell by 15.5 percent in Europe last year.