Ford Motor Co. (F - Free Report) declared in its 14th annual Sustainability Report that it has successfully reduced CO2 emissions at its global facilities by 37% per vehicle during 2000 to 2012. The automaker is on track to reduce emission level by 30% during 2010 to 2025.
Ford has been able to cut CO2 emissions at its global facilities by 4.65 million metric tons or 47% since 2000. The company also succeeded in reducing emissions at U.S. facilities by 10% per vehicle produced during 2002 and 2012. Even emission level from tailpipe has been decreased by 16% with the introduction of new vehicles like Ford C-MAX Energi plug-in hybrid.
Ford is focused on delivering eco-friendly and quality products together with ensuring sustainability. The automaker strives to develop products and technologies at its facilities in line with its business targets while maintaining sustainable CO2 levels.
Ford has introduced six electrified vehicles to improve fuel efficiency and cut CO2 emission. The electrified vehicles include C-MAX Hybrid, C-MAX Energi, Fusion Hybrid, Lincoln MKZ Hybrid, Fusion Energi plug-in hybrids and Focus Electric.
Next, Ford is planning to expand capacity by 50% for its industry leading 3-Wet paint, which will reduce CO2 emissions by 25%. It also plans to introduce this environment-friendly process to 4 more plants in 3 continents.
Mich.-based Ford is one of the largest automobile producers in the world. Currently, the company carries a Zacks Rank #3 (Hold).
Ford posted a 4.1% increase in profits to $1.6 billion and 5.1% in earnings per share rose to 41 cents in the first quarter of 2013, beating the Zacks Consensus Estimate by 3 cents.
Revenues improved 10.5% to $35.8 billion, exceeding the Zacks Consensus Estimate of $32.8 billion. The improvements in revenues and earnings were mainly attributable to Ford’s strong performance in North America and Asia Pacific Africa, partially offset by unfavorable exchange rate in South America and uncertainties in Europe.
Currently, Visteon Corp. (VC - Free Report) , Lear Corp. (LEA - Free Report) and Magna International Inc. (MGA - Free Report) , carrying a Zacks Rank #1 (Strong Buy) are performing well in the broader industry where Ford operates.