just-auto.com

US: Ford open to alliances, says CEO

By just-auto.com editorial team | 21 July 2006

Ford Motor Company is comfortable with its existing alliances and open to new combinations, its CEO said in an interview yesterday.

Talking to CNBC, Bill Ford Jnr said: "I wouldn't rule it out [an alliance with another automaker]. We have successful alliances already all around the globe.

"We're very comfortable with alliances and we are very open to studying all kinds of possible combinations."

Ford added, though, that the company was not in any talks at present.

On Thursday (20 July), Ford reported a net loss of US7 cents per share, or $123m, for the second quarter of 2006, down considerably on the 47 cents a share, or $946m, net income in Q2 2005.

The Q2 loss from continuing operations, excluding special items, was 3 cents per share, or $48m, compared with 47 cents per share, or $936m, profit a year ago.

Sales and revenue was $42bn, down $2.5bn.