Ford loses £3.5bn in three months
Car giant Ford’s US operation lost more than stg£3.5bn in the fourth quarter of 2001, mostly due to heavy costs related to its restructuring plan.
For the full year, the world’s second biggest car maker said it lost stg£3.77bn, its first annual loss since 1992.
The quarterly results narrowly beat Wall Street expectations if one-time items are excluded from the comparison.
