Ford posts 9 billion loss
Ford Motors, the second largest US auto maker, reported a massive 8.7 billion dollar loss for the second quarter due to the dwindling sales of high end cars and also due to its inability to pass on the higher input costs in full to the customers. It is now planning to convert three factories to make small cars which are increasing in popularity due to the high gasoline prices. This is only expected to reduce the loss, and it may be taking a much longer time for the company to return to profits.