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Ford posts record net loss of $12.7 billion in 2006

Ford posts record net loss of $12.7 billion in 2006

Ford Motor Co. posted a $12.7 billion (euro9.7 billion) loss in 2006, the largest annual loss in the fabled automaker's 103-year history.
The company said Thursday that it lost $5.8 billion (euro4.5 billion) in the fourth quarter alone due to slumping sales and huge restructuring costs. It lost just less than $7 billion in the first three quarters of the year. The annual loss surpassed the previous record annual net loss of $7.39 billion in 1992. The company earned $1.44 billion in 2005.


Updated : 2021-04-18 23:46 GMT+08:00