User Submitted:
$US8.67 billion quarterly loss to June 2008
Ford Motor Company yesterday announced a $US8.67 billion ($A9.07 billion) loss for the three months to June 2008 – the largest quarterly loss in the company’s history and the 24th worst in US history.
This loss was largely due to a general slump in the demand for SUVs and pick-ups. The Ford Motor Co also revealed it will convert two truck plants to make smaller, more fuel-efficient vehicles in the US; The Michigan Truck Plant in Wayne, Michigan will be converted to produce a new line of global small cars, while the Mexican plant that produces the F-Series pick-up will be building the Fiesta.
I think this is a smart move on Ford's part, as smaller, more efficient cars are now more in demand than ever.
http://www.goauto.com.au/…74910007322C
Bookmark/Search this post with:
| 
| 
| 
| 
| 
| 
| 
| 
I think this is a good
I think this is a good business decision for them and I just hope it isn't too late. That is a huge loss even for a company as big as Ford.
As far as everyong suffering I would say that is 99% correct. I don't see ANY of the gas/oil companies suffering right now. It seems they are the ones causing a good deal of the suffering while at the same time recording record profits.
Hopefully it turns them
Hopefully it turns them around in time and isn't too late. So many companies never thought the SUV would be snubbed. Its not easy to make quick turns in the auto market but I think they've got a couple ideas that will help out.
I'm sorry that they
I'm sorry that they suffered such a big loss, but they are not alone. Everyone is feeling the burn, and at least Ford still has the money to make some changes.
Smaller cars would be an excellent option currently.
Hope they move towards alternatives, too
I'm glad to see Ford moving towards more fuel efficient car models but I am sorry about cutting their truck manufacturing. Ford has the best trucks but many of us just can't afford to gas them up anymore. I hope the company decides to make more efforts towards developing technologies to use alternative fuel sources and move away from oil/gas as much as possible.