Ford makes more losses

[Fire99]

Noticed some breaking news on the BBC website about Ford.

With all the attention on the UK Car industry, just goes to show that many of the 'Big Boys' are feeling the pinch too!

http://news.bbc.co.uk/1/hi/business/4

cheers,

Nick

[edtvr]

Fire99 said:

Noticed some breaking news on the BBC website about Ford. With all the attention on the UK Car industry, just goes to show that many of the 'Big Boys' are feeling the pinch too! http://news.bbc.co.uk/1/hi/business/4 cheers, Nick

I saw this too,
When you have been in automotive industry as long as I have you come to expect it,
All of the major manufactures have in the last year invested in new models,
over the last few years many of the new cars that have been released have been on exsisting platforms, and have been relatively cheap compared to the new platform models currently being lauched, I am not so surprised they have not made a profit.
In effect thay have had the joy now they are feeling the pain,

Ed



>> Edited by edtvr on Friday 21st April 20:04

>> Edited by edtvr on Tuesday 25th April 16:06

[pjskel]

Read the report - $1.7B for one-off financial "charges". Remove that amount from the equation, and even with global 9% slump in turnover, down to $41.1B, they made $450M odd!
Yeah, really seriously in trouble!

Cry wolf enough times, and maybe someone will eventually believe you.

>> Edited by pjskel on Saturday 22 April 23:05

[Mannginger]

pjskel said:

Read the report - $1.7B for one-off financial "charges". Remove that amount from the equation, and even with global 9% slump in turnover, down to $41.1B, they made $450M odd! Yeah, really seriously in trouble! Cry wolf enough times, and maybe someone will eventually believe you. >> Edited by pjskel on Saturday 22 April 23:05

Indeed and the one off charges are due to redundancy payments and other costs incurred in reducing its manufacturing base - which will theoretically ensure that profitability is increased in the future.

Phil