Ford has benefitted from a stronger economic recovery in the U.S., as many drivers look to replace their aging vehicles. Executives also expect it to be profitable in North America this year, albeit at a lower level than in 2013. In Europe, where Ford has closed factories and cut thousands of jobs, the company expects to report a narrower loss in 2014 and achieve profitability the following year. Worldwide, Ford’s 2013 revenue increased 10% from the previous year to $146.9 billion, while profits climbed 26%.