Business
Profit Outlook Revised
Profit Outlook Revised.
About this update from Fdm Group (holdings) Plc
[{"type":"text","content":"\n RNS Number : 0979V Ford Motor Co 22 May 2008 \n\n\n\n\n\nContact:\n\n\nMedia:\n\n\nEquity Investment \nCommunity:\n\n\nFixed Income \nInvestment Community:\n\n\nShareholder Inquiries:\n\n\n\n\n \n\n\nMark Truby\n\n\nLarry Heck\n\n\nDave Dickenson\n\n\n1.800.555.5259 or\n\n\n\n\n \n\n\n1.313.323.0539\n\n\n1.313.594.0613\n\n\n1.313.621.0881\n\n\n\n1.313.845.8540\n\n\n\n\n\n [email protected] [email protected] [email protected] [email protected]\n \nFORD ADJUSTS PRODUCTION TO LOWER INDUSTRY VOLUME AND SHIFT IN CUSTOMER PREFERENCES; PROFIT OUTLOOK REVISED\n\n\n\n\n\nNorth American car production increased and truck production reduced for remainder of 2008 to reflect the continuation of rapid changes in customer buying preferences\nLower industry volume, reduced overall production, dramatic model mix shifts away from large trucks and SUVs, and higher commodity costs force a change in Ford’s near-term profit outlook\nFord now expects to be about break-even companywide in 2009 on a pre-tax basis, excluding special items, as North America Automotive profitability is delayed\nNorth America Automotive operations remain on plan to reduce annual operating costs by $5 billion by the end of 2008\nInvestment in smaller, fuel-efficient vehicles accelerates; further manufacturing capacity realignments planned in line with the introduction of more small cars and crossovers\n\n \nDEARBORN, Mich., May 22, 2008 – Ford Motor Company [NYSE: F] today said it is making adjustments to its production plan and revising downward its near-term North American Automotive profit outlook, while planning further manufacturing capacity realignments, additional cost reductions and changes to its product mix to respond to the rapidly changing business environment in the U.S.\nThe company said it is increasing 2008 North American production of the hot-selling Ford Focus, Fusion, Edge and Escape, Mercury Milan and Mariner, as well as the Lincoln MKZ and Lincoln MKX. At the same time, Ford is reducing 2008 production of large trucks and SUVs, as gas prices soar and custo...