Top > Business > 2005 > October > 2005-10-25

Ford Loses $284 Million

Ford Motor Company reported a third-quarter net loss of $284 million, citing a "difficult environment" in the car industry. The loss from continuing operations amounts to $191 million. This translates to 10 cents per share, one cent lower than expected on Wall Street. Sales rose 4.6% from the same time last year to $40.9 billion.

"We have demonstrated throughout the year that we will continue to take the actions necessary to return our core business to sustainable profitability. We understand the issues, our priorities, and have the right team in place to get the job done." says Bill Ford, chairman and chief executive of Ford Motor Company. "As our results indicate, we face many challenges in this competitive and difficult environment."

Other U.S. automakers have also been struggling recently, more than likely due to the same perception of a "difficult environment", especially when it is considered the number of foreign-company cars purchased by Americans each year.