The US based Ford Motor Company has issued a profit warning on the back of high price of oil and anxieties about the US economy. It claims that these factors would plunge it further into the red and force it to cut production by a quarter.

Ford has warned that its financial performance in 2008 would be worse than last year when it reported a loss of $2.7 billion. Ford is planning to reduce costs by a 25 per cent cut in production during the third quarter of the year a drop of 50,000 vehicles to 475,000 units in the US.

Comments (0) »

Show/Hide comment form

Name

Email

Title

Comment

Write the displayed characters

Add Comment