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Ford Reports Narrower Loss for 3Q

DEARBORN, Mich. -- Ford posted a third-quarter loss of $380 million on Thursday, a vast improvement over its $5.2 billion loss a year earlier, according to the Associated Press.

The second-biggest U.S-based automaker said it is near a deal to sell its Jaguar and Land Rover units but its CEO said there are no plans to sell its Volvo business.

The latest results beat Wall Street expectations, and its shares rose more than 2 percent in morning trading.

But the loss contrasted to the $750 million profit Ford reported for its second quarter, its first profitable quarter in two years.

Posted by Peter C. T. Elsworth  at 11:23 AM to Ford | Permalink

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