KAI RYSSDAL: Some bad news with the good at Ford Motor Company today. The car maker reported a better-than-expected first-quarter loss of about $282 million. That’s a big step up from its $1.4 billion bust a year ago.
But Micheline Maynard at the New York Times says there’s less to that than meets the eye.
MICHELINE MAYNARD: Well, it’s always good when Ford can reduce its losses, but its big problem remains North America. And, in fact, during the first quarter its North American loss actually grew.
Ford’s in the middle of a massive restructuring. But it’s still losing money with trucks and SUVs, which are more than 60 percent of its business in the U.S. and Canada.
MAYNARD: Big vehicles are not selling, because gas prices are close to $3 in parts of the country. So they’re in a situation where they don’t have the kind of line-up to face these higher gasoline prices.
Micheline Maynard at The New York Times.