December 10, 2019 / 2:55 AM / 2 months ago

Ford to nearly halve its 2018 before interest and taxes loss in China

FILE PHOTO: Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany September 10, 2019. REUTERS/Wolfgang Rattay

(Reuters) - U.S. automaker Ford Motor Co. (F.N) said on Monday it expects its full year 2019 loss, before interest and taxes, from China to be nearly halved from the year ago.

For 2020, the company expects to further cut down its China losses, before interest and taxes, by nearly half that of what it expects to post for 2019.

Ford says it could further improve its performance in China in 2021.

The company, in a meeting with certain analysts and investors, said the statement should not be construed as guidance for China. (bit.ly/2E44aBA)

In October, Ford had cut its full-year profit outlook for 2019 citing higher warranty costs, bigger discounts and weaker-than-expected performance in China.

Reporting by Dominic Roshan K L; Editing by Shailesh Kuber

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