Ford Down In Europe, Expects Big Hit On Earnings

Also suffering from the European contagion is Ford. The blue oval's western European are down 10 percent in the first half of 2012, Reuters says. June sales are down a hefty 16.1 percent. Once Ford releases Q2 results, overseas losses are expected to be up threefold from the $190 million recorded in the first quarter. Ford already fingered Europe as the culprit. GM Europe has not yet reported first half sales figures for Opel. In May, Opel's year-to-date sales were down 12.3 percent in the EU, Ford's were down 12.8 percent. Please note that different companies have a different view of what is part of their "Europe." The European manufacturer association ACEA will release its numbers next week. from The Truth About Cars http://www.thetruthaboutcars.com

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