Ford Reports $123 Million Loss For 2Q

Total revenue down $2.5 billion from a year ago.

Ford Motor Co. Thursday posted a $123 million loss for the second quarter of 2006, on revenue of $42 billion, down $2.5 billion from a year ago.

“We’ve seen an improvement in North America results in the second quarter, but the external factors we face aren’t going to get any easier,” said Chairman and CEO Bill Ford. “Within the next 60 days, we’ll be in a position to discuss the additional actions we will be taking.”

Executive Vice President and CFO Don Leclair added, “Although we’ve made progress on a number of fronts, clearly we have more to do. This includes maintaining our focus on improving our quality, reducing our costs and maintaining our strong liquidity as we respond to the tougher operating environment we face.”

On a pre-tax basis, worldwide Automotive sector losses in the second quarter were $808 million. This compares with a pre-tax loss of $245 million during the same period a year ago. Worldwide automotive sales for the second quarter declined to $37.7 billion from $38.7 billion in the same period last year.

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