Ford to try new approach after poor profits

New Zealand News.Net
Thursday 24th July, 2008

The Ford Motor Company, an icon of American carmaking, has reported its worst-ever quarterly loss.

The company has ploughed through nearly $11 billion of its cash stockpile over the past year and has reported a second-quarter loss of $8.7 billion.

Ford’s customers in the US have recoiled this year from high gas prices and have opted for smaller cars.

On Thursday, Ford announced plans to bring over six small, fuel-efficient cars it already makes in Europe for sale in North America, where it is winding down on the manufacture of SUV’s and small trucks.

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