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Motor Authority: Ford posts $424 million second quarter loss

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Ford today reported a pre-tax operating loss of $424 million in the second quarter of 2009 (excluding special items), a $609 million improvement compared with the second quarter of last year. The gains made during the quarter were the result of cost reductions, net pricing, positive Ford Credit results improved and market share, all of which helped offset the continued impact of the global financial crisis. Including a $2.8 billion gain related to debt-reduction actions, however, sees Ford earning a net income of $2.3 billion, or $0.69 per share.

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Hopefully 3rd quarter should be good as well.

Methinks with the Focus and Fiesta getting here things will be good for them if the cost of fuel goes up...which it will.

Chris :scratchchin:

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