DEARBORN, Mich. --- Skyrocketing fuel prices continue to take their toll on the sale of big-ticket pickup trucks and sport utility vehicles. Ford Motor Co. on Thursday cited high prices at the pump when reporting a second-quarter loss of $123 million, or 7 cents a share. In contrast, the company had a profit of $946 million in the second quarter of 2005.
Sales of the Explorer SUV were down 36 percent in June compared to the previous year. Sales of the Expedition were down 46 percent. Ford F-150 sales dropped 10 percent.
Higher raw material costs also contributed to the loss, the company said.
Originally posted on Fleet Financials