Ford Motor Has 2nd-Qtr Loss on Cost of Tire Replacements

Bloomberg reported that the Ford Motor Co. had a second-quarter loss as the second-largest automaker paid the $2.1 billion tab for its decision to replace 13 million Firestone tires and U.S. demand for cars and trucks declined.

Ford's final loss widened to $752 million, or 41 cents a share, from a loss of $577 million, or 47 cents, in the year- earlier quarter. Revenue declined 4.9 percent to $42.3 billion from $44.5 billion.