Ford announces 3rd quarter earnings. Break even a possibility in 07

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: & Automotive News