Monday, April 27, 2009
Ford claims it will break even in two years
Ford has declared it will break even in two years and claimed again it does need government help.
The company is the only one out of the top three American automotive manufacturers not to need government support.
In the first three months of this year Ford made a net loss of $1.43 billion compared with a profit of $70 million in the same period last year, reports TimesOnline.
However the results were not as bad as expected.
In the past two years Ford has sold Aston Martin, Land Rover and Jaguar and put Volvo on the market.
It's been reported that at the end of March the company had $21.3 billion left in gross cash.
DATED: 27.04.09
FEED: AM
The company is the only one out of the top three American automotive manufacturers not to need government support.
In the first three months of this year Ford made a net loss of $1.43 billion compared with a profit of $70 million in the same period last year, reports TimesOnline.
However the results were not as bad as expected.
In the past two years Ford has sold Aston Martin, Land Rover and Jaguar and put Volvo on the market.
It's been reported that at the end of March the company had $21.3 billion left in gross cash.
DATED: 27.04.09
FEED: AM
