Ford And Holden

[f-wolf]

Ford posts $267 million after-tax loss

May 13, 2014 - 9:54AM

Ford has joined Holden in reporting significant losses for 2013.

The manufacturer’s annual financial report shows after-tax losses of $267 million, driven largely by a $242 million write-down of its local manufacturing facilities.

Its 2013 operational losses were listed at $25 million, which came despite $72 million in government support.

http://www.drive.com.au/motor-news/ford-posts-267-million-aftertax-loss-20140513-386ms.html

Expensive Daewoo records $554 million loss

May 12, 2014 - 5:25PM

Holden has blamed its decision to stop building cars in Australia for a $553.8 million after tax loss in 2013.

It is the biggest loss for the General Motors-owned brand and comes despite $86.2 million in government assistance.

http://www.drive.com.au/motor-news/holden-records-554-million-loss-20140512-385mh.html

[Rab]

I wonder how much of those losses are "creative accounting" given that they've probably started writing down as much as they can and not having to worry about carrying forward losses given they're shutting up shop

edit: nvm - just read the second paragraph - says it right there.

Edited 13/05/14 12:55 AM by raband

[_Velocity_]

What do you expect with their rubbish advertisements.

Hey men if you like hatchbacks, karaoke singing and you're a terrible singer go buy a fiesta / focus.

Marketing sabotage for the last 7 years. No wonder they are posting record losses.

[Rab]

It's great isn't it?

We give them hundreds of millions to spend on new plants etc from our tax and they get to write down those same facilities we helped pay for and use it to offset tax they would have otherwise had to pay.

Wish the government would give me $100k I could blow on investments that went bust and use that loss to clear my tax debt moving forward.

/sarcasm