The US motor-manufacturer Ford has returned to profit, but only because the money it makes from lending to customers has outweighed its losses from selling vehicles.
Ford announced a profit of 213 million euros in the third quarter of the year but it continues to lose market share in its main market the US. Its sales there were down 5.1% this year. From selling vehicles the company lost 508 million euros worldwide in the past three months. The US accounted for 351 million of that and 27.5 million of the loss was in Europe. A price war with other manufacturers is partly to blame. Ford bosses are putting the best possible face on the situation CEO William Clay Ford Junior said: “We’re looking to build profits, not market share.” He added: “All around I’m happy.” Investors were not so impressed and the companies shares fell in value.