Ford Has $8.7 Billion Loss, Shifts Away From Trucks

By | July 24, 2008

Ford Has 87 Billion Loss Shifts Away From Trucks

Ford Motor Co., the world’s third- biggest automaker, posted a record quarterly loss of $8.7 billion and accelerated a conversion to fuel-efficient vehicles to wean itself from money-losing trucks.

Ford shares fell the most in almost seven years after the company reported a second-quarter deficit of $3.88 a share compared with a profit of $750 million, or 31 cents, a year earlier. The figure included $8 billion in pretax writedowns for plant closings and the declining value of truck leases at Ford Motor Credit Co.

The automaker said it will double production of hybrid vehicles, sell more European autos such as the Fiesta in the U.S. and convert three North American truck factories to make a redesigned Focus and other small cars. The revamping is a response to record gasoline prices that have ravaged sales of large pickups and sport-utility vehicles and derailed Chief Executive Officer Alan Mulally‘s turnaround plan. – bloomberg

These people giving up their Ford trucks are many of the same Rush Limbaugh listeners who laughed at “environmental wackos” just about two years ago.

2 thoughts on “Ford Has $8.7 Billion Loss, Shifts Away From Trucks

  1. Bruce A

    What has this to do with environmentalism? When it costs over $100 to fuel your vehicle it only makes economic sense to look to smaller, more fuel efficient vehicles. In time, when fuel costs are lower people will probably look again to larger vehicles. The same thing happened in the late 70s under Carter.

  2. Xeno Post author

    This is exactly what the ditto heads do not understand: There is only one planet, and it isn’t that big. It’s all connected.

    Long term, for each and every one of us, making environmentally conscious choices is the cheapest.

    Al Gore, our rightfully elected president, would have taken us on a different path.

    Now you, I, and everyone else pays at the pump for the election of Bush.

    You wanted war with Iraq. Down with the hippies! Get Saddam! Remember 9/11!

    Sure, you got your wars. And as a result, we have wasted $3 trillion invading foreign countries, brought torture back, made new enemies around the world, killed more civilians that you can shake a stick at, and put our economy in the toilet.

    Some “environmental wackos” tried to tell you this was coming when they staged the largest anti-war protest in our planet’s history before the invasion of Iraq.

    I’m saying our choices and policies are fatally short sighted.

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