A week ago, Ford posted a $5.8 billion loss due to sagging North American sales. To make things worse, CFO Don Leclair announced yesterday that Ford expects North American production for the first six months of 2007 to be down 8 to 12 percent from 2006 due to lower demand for its products and at least partially due to the demise of the Taurus. The second six months of '07 are expected to be up 5 to 10 percent compared with '06.
For the entire year of 2006, For expects production numbers to be down about 9 percent from 2005.
Can Ford pull out of this spiral with new products such as the Edge, MKX, and MKZ? Initial reviews have been good, but we will reserve judgment until we have had them through the Autoblog Garage. Watch for our reviews and comments on all three vehicles very soon.
Wall Street is keeping a close eye on Ford as well. Nervous stockholders saw Ford shares down 19 cents, or 2 percent, at $8.10 in morning trading Monday.
[Source: Detroit News via AP]