Spin9k

http://business.theage.com.au/busine...an.html?page=1

Let's hope the little car company that does, can do it for Ford. Historically, tit for tat really. Let's hope Mazda can do it before Ford has to sell Mazda to say, Tata, for some needed cash!

Phil's 8

iTrader: (3)

Yea, Ford was there for Mazda and now it looks like Mazda can return the investment. Now if only they could do something about some of their dealer network.

RX-GR8

DEARBORN, Mich. - Ford Motor Co. said Thursday it lost $8.67 billion in the second quarter largely because of a reduction in the value of assets.

The company also announced that it will bring six European small car models to North America by the end of 2012 as it deals with a market shift from trucks to cars brought on by high gasoline prices. The company also will retool two more North American truck and sport utility vehicle plants to build small, fuel-efficient vehicles.

The second-quarter loss was $3.88 per share, compared with net profit of $750 million, or 31 cents per share, in the same quarter a year ago.

The loss includes $8.03 billion worth of write-offs because of a decline in value of North American assets and Ford Motor Credit Co.'s lease portfolio. Even excluding those special items, Ford lost 62 cents per share, worse than Wall Street expected. Twelve analysts surveyed by Thomson Financial, on average, expected a 27 cent loss per share.

Ford's second-quarter revenue was $38.6 billion, down $5.6 billion from the year-ago period. Analysts expected $34.6 billion.

Ford said it will retool the Michigan Truck plant in suburban Detroit, shifting its products from large SUVs to make global vehicles off the European Focus platform by 2010.

The SUVs made at Michigan Truck _ the Lincoln Navigator and Ford Expedition _ will be shifted to the Kentucky Truck plant in Louisville.

The company also will retool the Louisville Assembly Plant, which now builds the Ford Explorer midsize SUV, to produce vehicles on the European Focus frame, starting in 2011.

Ford also said its Twin Cities Assembly Plant in St. Paul, Minn., will continue producing the Ranger small pickup through 2011. The plant was scheduled to close next year.

Ford also said in a statement that it does not expect a U.S. economic recovery to start until early 2010.

The company said its write-offs included $5.3 billion in North America and $2.1 billion in write-downs for Ford Credit's truck-heavy lease portfolio. Chief Financial Officer Don Leclair said most of the write-down was triggered by the drop in value of the company's truck and SUV inventory and lease residuals.

Ford reported a pretax loss of $1.3 billion in North America because of the deteriorating U.S. market and the shift away from trucks. U.S. sales overall were down 10 percent in the first half of the year, with Ford's sales down 14 percent.

The company, though, continued to be profitable overseas, posting a $582 million profit in Europe and $388 million in South America. The company also made $50 million at its Asia-Pacific-Africa division.

"The second half will continue to be challenging, but we have absolutely the right plan to respond to the changing business environment and begin to grow again for the long term," President and CEO Alan Mulally said in a statement.

ASH8

YES ^^^, No wonder FORD are ..

Quote "FORD ACCELERATES TRANSFORMATION PLAN WITH SMALL CAR OFFENSIVE, MANUFACTURING REALIGNMENT"

Ford Motor Company [NYSE: F] today announced a significant acceleration of its transformation plan with the addition of several new fuel-efficient small vehicles in North America and a realignment of its North American manufacturing. "

FORD can not keep going like this...something has to and will give..

RK

iTrader: (1)

Mazda 2's to the US? That'll be nice. Lot better looking then most of the eco-boxes driving around. Still not sure why they haven't already done that.

Spin9k

Relatively speaking, it stupifing that is took a knock up side the head of nearly 9 Billion dollar loss to get the dim-bulbs at Ford to think it a bright idea to offer NA consumers something better than a Focus to buy for a small car from them.

One has to wonder if ANY of them DRIVEN a good small car lately? Apparently it's just dawned on them to give it a shot

ASH8

So it is going to be at least 4 years for a small Ford to come out of a US plant?..

They will be bankrupt by then!

delhi

Ford announced laying off 500 people at the Oakville plant that makes the Edge or some thing like that. They made 13,000 of them but sold only 500 so far.

Earl the Pearl

My only request is that Ford continues to let Mazda run Mazda and not try to run Mazda with incompetent Ford management. Mazda is good at picking up a Ford product that engineers complete 80% of the way and finish the job the right way. Example, CX9, 3, 6, etc. They also show a genuine interest in the consumer, something Ford gave up over 30 years ago.

j_tso

Isn't that what the new Fiesta is?

dos

It looks like Ford is going to bring some of the Euro cars over to the states. I don't know why for years Ford has sent some of their best looking models over the pond.

http://money.cnn.com/galleries/2008/...rds/index.html
http://money.cnn.com/2008/07/24/news...ion=2008072416

nycgps

iTrader: (1)

Big cars, no good. Even Mazda having a hard time selling their "bigger" cars like CX-7

my local dealership tries to sell CX-7 at 19,995 @ zero apr. yea I know the based model but. dont u think thats kinda like a killa deal ?

I think I can probably go in and get a Brand new Mazda 3 for like maybe 15 16 fully loaded ? who knows

nvrfalter

iTrader: (1)

hell. yes.

Mazmart

iTrader: (12)

Just for clarity sake: None of these began their lives as a Ford or on a Ford platform. Rather they have contributed to Ford's present line up.

Paul.

RXLogic

I'd guess it's because Mazda can already sell more than they can make.

Same platform, not the same car. But, I might well settle for a Fiesta ST or RS if the Mazdaspeed 2 doesn't make it over here.

RXLogic

The Fiesta and Focus will both be made in North America by 2010.

knicks1984

Mazda has always been great in providing their consumers with fun and RELIABLE vehicles. It's amazing how they go under the radar a lot when it comes to reliablity and performance. I can't wait to see what the next generation models will have in store.

Spin9k

...like the next RX weighing in at -220lbs less for example

ASH8

I thought the CX-9 was off a Ford platform SUV, is it the edge?,
the Mazda 3 shares with Volvo.
Mazda 6 is it's own