Ford lost nearly $800 million in the latest quarter. As Fred Katayama reports, the automaker separately announced a safety recall involving Ford Focus and C-Max vehicles.
Ford swung to a nearly $800 million loss in its latest quarter. Weighing on the automaker: its move to change the way it accounts for its pensions. It also took a $200 million charge because it canceled the construction of its Focus plant in Mexico. President Trump had harshly criticized Ford's Mexican plant plans before and after the election, but the automaker said slow demand for small cars drove its decision. Ford is sticking to its forecast for lower profits this year ... a sharp contrast to the more upbeat outlooks issued by rivals GM ..... and Fiat Chrysler, which plans to nearly halve its debt this year. Separately, Ford disclosed it issued a safety recall in North America regarding certain 2016 Ford Focus and C-Max vehicles and vehicles and a safety compliance recall involving 8,000 2017 Ford F-150 pickups. Ford shares falling in early trading, chipping away at their 4 percent gain this year.