Ford Reports Steepest Loss Since 2001 - Weighed down by the high cost of restructuring and slow vehicle sales, the Ford Motor Company today reported a $1.2 billion loss for the first three months of the year. It was the company's steepest lost since 2001.
The announcement came one day after General Motors, the world's largest automaker and Ford's main rival in the United States, said it lost $323 million in the first quarter.
Can you imagine that a loss of $1.2 billion dollars for the first quarter! OH WOW! That's about 4 times larger than GM's loss.