Summary Box: Investments cut Ford, Chrysler profit

AP News
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Posted: Jul 26, 2011 3:24 PM
Summary Box: Investments cut Ford, Chrysler profit

INVESTING IN THE FUTURE: Ford Motor Co.'s second-quarter profit dropped and Chrysler Group LLC posted a loss. Both companies said investments in their future cut into earnings.

THE NUMBERS: Ford earned $2.4 billion, but its profit was down 8 percent compared with a year earlier. Big investments in Asia were one reason for the drop. Chrysler lost $370 million because of a one-time $551 million charge for refinancing bailout debts owed to the U.S. and Canadian governments. Without the charge it would have made $181 million.

WHAT'S NEXT: General Motors Co. reports second-quarter earnings on Aug. 4.