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"   Ford reported a net income of $3.5 billion for 2004. Although this was seven times its 2003 profit, Ford&amp;#039;s performance was more attributable to record results by its financing arm, Ford Motor Credit Company which has a net income of $2.9 billion for the year, up $1.1 billion from 2003 than its worldwide automotive operations, which earned a pre-tax profit of $850 million in 2004, up from $153 million a year ago.   Worldwide, Ford vehicle sales totaled 6.8 million units, an increase of 62,000 over 2003. But fourth-quarter sales slipped 133,000 to 1.8 million.   Ford also closed in on its full-year pre-tax profit goal of $7 billion by generating $5.8 billion in 2004. As part of its revitalization plan announced in 2002, Ford pledged to hit the $7 billion mark by 2006.   Other highlights included a turnaround by Ford of Europe, which recorded a full-year pre-tax profit of $114 million up from 2003&amp;#039;s full-year loss of $1.1 billion. And Ford increased market share in Europe, Asia Pacific and South America.   On the downside, Ford&amp;#039;s Europe-based Premier Automotive Group which consists of , , and reported a pre-tax loss of $740 million, down from 2003&amp;#039;s pre-tax profit of $171 million. The poor showing was blamed on a weakening U.S. dollar and a dismal performance by Jaguar. "^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.roadandtrack.com/car-culture/a10476/ford-makes-money-on-loans-not-cars/>