Ford set to release 3rd quarter earnings Oct. 30

October 16, 2012
Ford set to release 3rd quarter earnings Oct. 30
By KARL HENKEL / The Detroit News
Ford Motor Co. will release its preliminary third quarter earnings report on Oct. 30, the automaker said Tuesday.

Ford on Tuesday also released its September European sales results, providing an early look at what is expected to be a poor financial showing in Europe.

Ford’s sales in Europe’s traditional 19 markets fell 14.9 percent — compared to an 11.6 percent drop for the rest of the industry — and are down 12.4 percent through the first nine months of the year.

The industry has experienced a sales decline of 7.7 percent so far this year.

Continued concerns about Europe’s sovereign debt crisis and high unemployment have dealt a blow to consumer confidence and automobile sales.

Ford lost $404 million in Europe in the second quarter — partially offsetting big profits in North America — and has said it expects to lose $1 billion in Europe this year.

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