Ford sinks to $9bn loss
US car maker Ford has slumped to a second-quarter loss of $8.7bn (£4.35bn) after it was hit by an $8bn write-down in its North American assets.
The loss compares with a profit of $750m a year earlier as Ford saw revenues drop $5.6bn to $38.6bn.
The company also announced it is taking six European small car models to the US as it copes with a slump in demand for trucks and SUVs.