Ford Motor posts an $8.7 billion quarterly loss
July 24th, 2008 Leave a comment Visited 22 times, 1 so far today
Ford Motor posts an $8.7 billion quarterly loss
US based automaker Ford Motor continues its struggle as they have now posted an $8.7 billion quarterly loss.
The company added that they do not see a U.S. economic turnaround until 2010.
This was a worse performance compared to market expectations and the company’s stock took a beating at the share market.
The company has been going through a major transformation in its product range as they are now shifting their focus on fuel efficient cars instead of heavy trucks and SUVs.
Ford said that they believe they have enough cash needed to ride out the U.S. downturn.
The company added that they are on track to cut salaried expenses by 15 percent by August 1 this year.
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