Ford stock loses value thanks to slumping SUV sales
The AP reports that Ford lost $123 million (7 cents a share) in the quarter. Last year, Ford earned $946 million (47 cents) in the same quarter. Since customers are going for more fuel-efficient vehicles, it makes the company's retreat from recent goals (increased number of hybrids, better fuel mileage SUVs) seem even more self-defeating. What's the company's response? It will announce, "additional restructuring in about 60 days" Ford said.
[Source: Akron Beacon Journal via EV World]
- Our favorite reveals from the LA Auto Show
- You can probably get a great deal on a new Fiat
- 2016 Holiday Gift Guide
- Is it time to buy a Pontiac Aztek?
- Fastest-depreciating cars in the United States
- Most and least efficient car companies