Ford's Asian Division To Post Loss On Thai Floods

Ford's Asian division to post loss on Thai floods

DETROIT, January 11, 2012 (AFP) - Ford's Asian division will post a loss in 2011 due to flooding in Thailand, but the second largest US carmaker will end the year with a healthy profit, a spokesman told AFP Tuesday.

"As a result of the Thai floods and the part and production impact, we no longer expect to have a full year profit for the Asia Pacific region," spokesman Todd Nissen said on the sidelines of the Detroit auto show.

"We expect the company (as a whole) to have a full year of profit better than in 2010."

Ford posted a $6.6 billion dollar profit in 2010 and is expected to release its fourth quarter and 2011 results at the end of the month.

It has reported a net profit of $6.65 billion for the first nine months of 2011 and saw sales in the key US market grow 11 percent to 2.15 million vehicles.

-- (c) Copyright AFP 2012-01-11