Ford showed today that there is some light begining to show at the end of the tunnel. While just about every auto maker showed a loss of some sort, Ford's is showing to not be as bad as you might think. For the 3rd quarter of 07, Ford showed a net loss of only $380 million dollars. Compare that with a $5.2 billion loss this time last year, and that is a quite considerable improvement.
Revenue was also on the up scale this year. $41.1 billion vs. $37.1 billion last year. When looking at the North America car sales numbers, there was a loss of $1 billion dollars. Last year it was a $2.1 billion loss. North American revenues were up $1 billion this year also. $16.5 billion to $15.4 billion last year.
World wide vehicle sales are up by 20,000 units this year also. Ford recorded 1,487,000 sales this year.
Ford also released their forecast for the 4th quarter and the end of the year performances. They are pushing for either a small loss or to hopefully break even for 2007. Ford has already sold the Aston Martin brand, and is should have the deals wrapped up for Land Rover and Jaguar in the early part of 2008. That will free up alot of cash for Ford.
Source: Autoblog.com & Automotive News
Showing posts with label Stocks. Show all posts
Showing posts with label Stocks. Show all posts
Thursday, 8 November 2007
Wednesday, 7 November 2007
GM reports 3rd quarter earnings. $39 billion loss
General Motors shocked the world yesterday with their 3rd quarter earnings for 2007. When it was all said and done, the General lost an astounding $39 billion dollars. While it may look bad, there are some up sides. Such as the sale of Allison Transmission which sold for $3.5 billion. This time last year, GM was showing a $497 million dollar profit.
Vehicle sales actually did show a profit $122 million, while last year $577 million dollar loss. So far this year, GM has sold 2.39 million vehicles world wide.
Unfortunately, this makes the worst ever loss for GM, and the 2nd worst in history for all companies.
I was actually surprised to see figures this bad. While GM's U.S. sales have been bad over the last few years, it only accounted for a small portion of GM's worldwide sales. I guess after the hit that the DOW and NASDAQ took today, all I can say is WOW! What happened GM?
Vehicle sales actually did show a profit $122 million, while last year $577 million dollar loss. So far this year, GM has sold 2.39 million vehicles world wide.
Unfortunately, this makes the worst ever loss for GM, and the 2nd worst in history for all companies.
I was actually surprised to see figures this bad. While GM's U.S. sales have been bad over the last few years, it only accounted for a small portion of GM's worldwide sales. I guess after the hit that the DOW and NASDAQ took today, all I can say is WOW! What happened GM?
By:
Austin
On 19:24
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