Ford Motor Co. (F) is struggling with an immense restructuring plan that hopes to cut costs making them better able to compete with its overseas competition, offering lower-cost auto options for the consumer.
The third-quarter loss of $5.8 billion is the largest quarterly loss in more than 14 years for the nation's second largest automaker with little positive outlook for the fourth quarter.
The cost of plant closures and other restructuring costs have taken their hit but Ford's new chief executive, Alan Mulally, hopes that fuel-efficient models will begin to make a difference.
The WashingtonPost.com reports that he said there's a clear opportunity to return to profitability by building more vehicles that will sell across the globe, increasing productivity and quality, more collaboration with parts suppliers and unions, and accelerating efforts to reduce plant capacity to match lower consumer demand for Ford products.
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