The Firestone tire fiasco took a $500 million bite out of Ford Motor Co.'s earnings in the third quarter, preventing the company from posting record profits and ending its string of 17 quarterly gains. Ford reported earnings of $888 million, off $71 million from year-ago's results on a 7.5% boost in revenues to $40.064 billion. Chief Financial Officer Henry D. Wallace says he expects the tire recall to be wrapped up in mid-November and that related charges in the fourth quarter will be ...
Premium Content (PAID Subscription Required)
"Printer-friendly" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.