Reuters: Regulatory News: UPDATE 1-Ford sees wider losses in international business

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Ford sees wider losses in international business Jun 28th 2012, 23:11 Thu Jun 28, 2012 7:11pm EDT June 28 (Reuters) - Ford Motor Co said second-quarter losses from its operations outside North America could be triple the $190 million it posted in the first quarter, hurt by continued weakness, mainly in Europe. The second-largest U.S. automaker said its margins were impacted by the competitive environment in Europe and expected margin pressures to continue in the foreseeable future, it said in a regulatory filing. The company also listed competition and pricing pressure as dragging on its South American business, while costs in the Asia Pacific-Africa region grow faster than its volumes. However, it still expects to be profitable in the second quarter, driven by strong results from Ford North America and Ford Credit. Chief Financial Officer Bob Shanks first spoke about his expectations for the second quarter in an interview with The New York Times. In April, Shanks said the second quarter would be hit by costs linked to new vehicle launches, added capacity and other items. The company's shares were down 3 percent in after market trading. They closed at $10.09 on Thursday on the New York Stock Exchange.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions