27 Oct 2011

Ford profits dip in EU and Asia

6:33 am on 27 October 2011

Ford reported a dip in profits with losses in Europe and Asia, but fared better in the United States with vehicle sales up 14% to $US18 billion.

The company reported a third quarter profit of $US1.6 billion, a drop of $US38 million from the same period last year.

However, the BBC reports the prospect of a dividend, which has not been paid since 2006, is still not likely.

Chief financial officer Lewis Booth said the company would not address the timing of a dividend before seeing more improvement in its core business.

Ford said the outlook for North America was on a slow upward trend and admitted growth in China was slowing down.

The company still remains the best-selling brand in the United States.