Ford continues to post losses as SUV sales down

Ford continues to post losses as SUV sales down

US based automaker Ford has posted more losses as the company suffers from falling sales of SUVs. Ford makes most of their sales from fuel guzzling SUVs and rising fuel prices in the US market has led to a situation where consumers prefer to buy reliable and fuel efficient Japanese cars.

The company is also undergoing a major restructuring process and is in the process of closing 14 plants and cutting up to 30,000 factory jobs in North America.

Ford Motors posted a second-quarter net loss of $123 million, or 7 cents a share. This is disappointing compared to profit of $946 million, or 47 cents a share, a year ago in the same period.

The vehicle sales for the company were down by around 7%.