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Ford CFO Booth Says Pretax Loss in Europe May Reach $600 Million
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Lewis Booth, retiring April 1 as Ford Motor Co.’s chief financial officer, said the automaker may lose $500 million to $600 million this year in Europe where the financial crisis is exacerbating industrywide overcapacity.
Ford’s pretax loss in Europe in the first quarter may exceed the $190 million the company lost there in the final three months of 2011, Booth told reporters yesterday in an exit interview at Ford’s Dearborn, Michigan, headquarters. Ford still expects companywide 2012 pretax operating profit to equal last year’s $8.8 billion, Booth said.