Text size [+][-] Monday September 8 2008GLOBAL EDITION
Home > Ford
By Antony Currie
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There is no context news associated with this storyFord reported a second-quarter loss of $8.7bn on July 24. Pre-tax special charges account for $8bn, including impairments of $5.3bn on Ford North America long-lived assets and $2.1bn on Ford Motor Credit’s operating lease portfolio. Ford also announced it was accelerating its restructuring plan, converting three of its large truck and SUV factories to produce small cars, introducing six European small vehicles to the US market and speeding up the introduction of new products. The famous Ford Model T went on sale in 1908. According to the company, it could run 25 miles on a US gallon of petrol.