Ford profit down; lackluster outlook disappoints

[Dover]

Source: Reuters

DETROIT (Reuters) - Ford Motor Co posted a lower third-quarter profit after taking a hit from plunging metals prices and sustaining losses in its European and Asian operations.

The No. 2 U.S. automaker also cut its full-year forecast for automotive operating profit margins, suggesting a weaker-than-expected fourth quarter. It cited slowing growth in China, pricing pressure in Europe and provided no timetable for when it might resume paying a long-anticipated dividend.

Ford shares fell as much as 7 percent on Wednesday morning on the New York Stock Exchange.



Read more: http://ca.reuters.com/article/businessNews/idCATRE79P2UP20111026

[kestrel91316]

1. Henry Ford understood that his company needed a prosperous middle class

to succeed financially. The 1%ers seem to have forgotten this.

[OhioChick]

2. Bingo. No job, no new car n/t

[JaneQPublic]

3. Serves them right for discontinuing the Ranger. (nt)

[Blue_Tires]

4. They were riding high a year ago...what changed?

[Purveyor]

5. Perhaps this is part of the reason: Ford's Quality Needs Improvement: Consumer Reports

DETROIT--Quality should be Job 1 at Ford again.

The brand's ranking fell 10 spots in Consumer Reports' annual auto reliability survey, hurt by glitchy touch screens and transmissions. It now ranks 20th out of 28 major brands, based on a survey of the magazine's subscribers.

The Dearborn, Michigan, automaker had been closing the quality gap with Japanese brands in recent years, but it may need to take its own advice from a 1980s ad campaign, in which it told viewers that “Quality is Job 1.”

Japanese automakers continued to dominate the survey's top rankings. Brands from Toyota, Honda and Mazda held the top nine spots in the 2011 study, while Chrysler's Jeep was the top brand from a U.S. automaker. The Chrysler brand showed the most improvement over last year.

The findings are based on surveys taken this spring of subscribers who own or lease 1.3 million vehicles of model years from 2002 to 2011. The magazine uses the findings to predict reliability of 2012 models.

MORE...

http://www.chinapost.com.tw/business/company-focus/2011/10/27/321050/Fords-quality.htm

[ingac70]

7. Ford obviously needs to start bribing Consumer Reports like Toyota. n/t

[Historic NY]

6. Guess all those teapartiers are buying them like they said they would...

after the bail outs. Wow, who would have figured.:shrug: