Ford posted a smaller-than-expected third-quarter loss but warned it will take up to $600 million in charges, primarily in the fourth quarter, for restructuring its European business.
Ford, the world's second-largest car maker, said it had a net loss of $25 million, or 1 cent a share, in the third quarter. It had a net loss of $326 million, or 18 cents a share, in the third quarter of 2002.
Excluding charges from an accounting change, Ford earned $237 million, or 13 cents a share, as profits from its finance arm offset losses from the automotive business.
Ford had told analysts to expect a loss of 15 cents a share before one-time charges, although many had expected a smaller loss.