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Losses - USA - Ford 3Q loss hits $284 million
Automaker's weak third-quarter results could force it to ratchet up aggressive restructuring
Detroit,Mich,USA -The Detroit News, by Bryce G. Hoffman -Oct 20, 2005: -- Ford Motor Co., hurt by weaker SUV demand, lower prices and higher warranty expenses, swung to a third-quarter net loss of $284 million and said it will unveil additional restructuring moves in January. A year ago, the company earned $266 million... Ford's struggling North American operations reported a wider pre-tax loss of $1.2 billion, compared to a loss of $481 million a year ago. And worldwide, Ford's automotive business posted a pre-tax loss of $1.3 billion, compared to a loss of $609 million a year ago... The company blamed lower inventories, unfavorable product mix, falling net prices and higher material costs for the wider loss... Ford said worldwide revenues rose 4.4 percent to $40.9 billion from $39.1 billion...
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