We all know that the debacle that the big three are facing is bad but with these numbers, no one ever thought it would be this horrific. Ford Motors announced that it lost US$1.4 billion (S$3 billion) in the first quarter, and said its restructuring was on track to achieve “breakeven or better” results by 2011.
The automaker is the only member of the Detroit Big Three, which includes Chrysler and General Motors, that has not received emergency government aid.
Ford said it “remains on track to meet or beat its financial targets based on current planning assumptions, including the target for its overall and North American Automotive pre-tax results to be breakeven or better in 2011, excluding special items.”
(Source) Asia One
Tags: automaker, Chrysler, debacle, Ford, ford motors, General Motors, government aid, planning assumptions, restructuring