Transportation Industry
Ford Lowers Earnings Forecast
Light & Medium Truck, May 2005
Ford Motor in early April dropped its 2005 earnings forecast by 29%, due in part to slumping truck and sport utility vehicle sales, news services reported.
Ford backed off an earlier $1.5 billion pretax profit forecast and said its earnings would be about $900 million less than earlier projected, Bloomberg reported.
Ford sold more than 160,000 trucks in February, according to data from Ward's Communications. About 75,000 of those were Class 1 trucks of less than 6,000 pounds.
The No. 2 U.S. automaker behind General Motors said its auto operations "would break even at best" this year, Bloomberg reported.
Copyright Transport Topics Publishing Group (TTPG) May 2005
Provided by ProQuest Information and Learning Company. All rights Reserved
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