TEXT OF STORY
Kai Ryssdal: Lost in the market hoopla today was a landmark of sorts for Detroit. Ford reported its first quarterly profit in two years this morning — $750 million. It was a surprise, to be kind. So we called Micheline Maynard, the Detroit bureau chief for The New York Times, and asked why.
MICHALENE MAYNARD: Well, one of the things that led to Ford’s performance in the second quarter was that they aren’t paying the size of incentives that they’ve been paying. Their big-truck sales are down, but their incentives on those big trucks are also down. And that’s helping them a lot.
But . . .
MAYNARD: There’s no time for celebration at Ford because even as they were talking about this surprising quarter he was saying that Ford expects substantial losses in the second half of 2007, especially in North America.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.
You make our
Support nonprofit news you love with a gift today.