AUSTRALIAN FORD

Press, Volume CV, Issue 30981, 10 February 1966, Page 17

AUSTRALIAN FORD

Return To Profit (N.Z. Press Assn. —Copyright) MELBOURNE, Feb. 9. In line with a solid increase in market penetration, the Ford Motor Company of Australia returned to profit during the second half of 1965. After two years and a half in the red. In spite of a trading loss of £176,604 during the first half of 1965, the company ended the year with a net profit of £352,275. In 1964, a loss of £4,857,804 was incurred, and in the previous year, the company lost just under £1,250,000. Market penetration rose during the year from 15 per cent of the total vehicle market to 16.8 per cent. Sales increased from £71.5 million to £75.5 million. Sales Record The number of vehicles sold increased from 64,086 to 71,177, a record for the company. A feature of the group's results during the year was a sharp increase in capital losses. Losses on sale of assets totalled £41,788 for the full 1964 year, £134,160 for the first half of 1965, and £172,089 for the second half of 1965. During 1965, the company instituted a large scale reorganisation which involved scrapping production of the Fairlane model and starting local production of the previously imported Galaxie.

Since the close of the year, the company has all but ceased production of its Zephyr range.