Ford joins automakers reporting record losses

The Ford Motor Company became the third US automaker reporting record losses for the second quarter, as domestic car sales fell to levels of two decades ago. Ford's April-June worldwide deficit was $468 million.

Last week, General Motors Corporation said it lost $412 million in the period. American Motors Corporation reported a deficit of $85 million.

The total quarterly deficit for the US auto industry will approach $1.5 billion after Chrysler reports its losses later this week. Some analysts predict the industry could be $3 billion in the red by the end of the year.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK