European market puts US to shame for Ford

Ford of Europe has reported a pre-tax profit of just over $1bn (£700m) for 2008.

Profits for the first half of the year soared to $1.37bn (£950m) but declined in the second half of the year, with the company recording a $261m (£182m) loss.

Its record profit in Europe, up from $997m (approx. £700m) in 2007, is in stark contrast with Ford’s global loss for the fourth quarter of 2008.

The company lost $5.9bn (£4.1bn) in the last quarter of 2008, and a total of $14.6bn (£10bn) for the whole year.

Ford now intends to draw on $10bn (£7bn) of additional credit, which is expected to reach the company by Tuesday.

>> See our full gallery of pictures of the new Ford Ka

>> See pictures of the new Ford Fiesta

>> See the latest pictures of the Ford Focus RS

George Barrow

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • First Drive
    13 October 2015
    Early first drive of Fiat's forthcoming Tipo reveals dynamics that fall short of the class best, although quality and comfort impress
  • First Drive
    13 October 2015
    Ferrari has produced another masterpiece with its new 488 Spider. We found out why on Italian roads
  • First Drive
    13 October 2015
    Distinctive DS hatchback gets revamped styling and new options, but the facelift fails to address the previous version's major issues
  • First Drive
    8 October 2015
    The greatest driver’s Boxster ever, and far enough removed from the GTS to be worth the compromises its complex hood demands
  • Car review
    7 October 2015
    Does the Zenos E10 have enough to oust Caterham and Lotus off their throne