Ford Reports Major Losses

Ford Motor Co. reports a loss of $5.8 billion for the latest quarter, as sales of trucks continued to decline. The company says money spent on employee buyouts also contributed to the losses. The damage for all of 2006 was a record loss of $12.7 billion.

STEVE INSKEEP, host:

Who knew they could break this record again? But there's been a record loss at Ford.

(Soundbite of music)

INSKEEP: The nation's number two automaker is reporting a big loss for the fourth quarter, as sales of trucks continue to decline and employee buyouts cost the company money. So the damage for all of 2006 was a record $12.7 billion. The company says it doesn't expect to see an improvement any time soon.

Copyright © 2007 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR’s programming is the audio.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.