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Ford posts $380 million loss for Q3, surprise Wall St.

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So it appears JLR are gone for good, but Volvo will stay and position itself as a premium brand. FoMoCo will be Ford, Mercury, Lincoln, Volvo, and Mazda....that's a pretty nice spread, IMO.

Financials seem to be doing better as well, NA only lost $1 billion vs. $2.1 billion last year. I think they will be able to pull off a profit by '09 unless other factors such as the economy and housing market really hurt car and truck sales.

Some highlights:

Ford North America: pre-tax loss of $1.0 billion

Ford South America: pre-tax profit of $386 million

Ford Europe: pre-tax profit was $293 million

PAG: pre-tax loss of $97 million (loss at Volvo, partially offset by a small profit at J/LR)

Ford Asia Pacific and Africa: pre-tax profit of $30 million

(cost reductions and higher net pricing, partially offset by adverse product mix, mainly in Australia )

Other Automotive: pre-tax profit of $29 million

Financial Services sector earned a pre-tax profit of $556 million

Ford earned $18 million from its investment in Mazda and associated operations.

Ford Motor Credit Company earned $546 million

Ford reports narrower loss for 3Q



Ford Motor Co. posted a third-quarter loss of $380 million on Thursday, a vast improvement over its $5.2 billion loss a year earlier.

The second-biggest U.S-based automaker said it is near a deal to sell its Jaguar and Land Rover units but its CEO said there are no plans to sell its Volvo business.

The latest results beat Wall Street expectations, and its shares rose more than 2 percent in morning trading.

But the loss contrasted to the $750 million profit Ford reported for its second quarter, its first profitable quarter in two years.

The net loss amounted to 19 cents per share for the July-September period in contrast to a loss of $2.79 per share in the third quarter of last year.

Much of the loss was attributed to $350 million in special items, including an offer to exchange preferred securities and personnel reduction costs in Europe and with its Premier Automotive Group, which includes Jaguar, Land Rover and Volvo.

The struggling automaker also reported a $1 billion pretax loss on its home turf, North America, but that was an improvement over the $2.1 billion it lost in the year-ago period.

Revenue rose to $41.1 billion from $37.1 billion a year earlier.

Ford said it expects to sell its Jaguar and Land Rover units early next year, and it said it has completed a review of Volvo and plans to improve its financial performance.

But it has no plans to sell Volvo, President and Chief Executive Alan Mulally said during an interview Thursday morning on "The Paul W. Smith Show" on WJR-AM. The automaker said it would start disclosing Volvo results separately starting in 2008.


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