DETROIT — Ford Motor Co. has reported its worst quarterly results ever, according to the Detroit Free Press. Posting a second-quarter loss of $8.7 billion, or $3.88 a share, the company said it plans to focus on building more small, fuel-efficient cars.
Ford isn’t the only major automaker to fall on tough times lately. Also struggling to maintain profits as auto sales slow down is Daimler AG, which reported that its second quarter profits fell by $2.2 billion.
And, while GM is setting sales records overseas, the slumping U.S. market continues to drag its numbers down. The company sold 2.29 million vehicles globally in the second quarter, but was outpaced by Toyota, which sold 2.41 million cars in the second quarter.
Chrysler has announced it will cut 1,000 white-collar jobs from its global workforce. That follows the more than 25,000 job cuts the company made last year, and is the third round of job cuts in 18 months.
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