Profits fall at Ford of Europe
Ford of Europe has again failed to carry its share of the Ford Motor Co. profit load. Ford's European operations posted a second-quarter profit of $89 million, compared with $310 million during the same period a year ago.
The figures include a $125 million share of a one-time inventory charge related to the Volvo Car purchase.
The $89 million figure is a small portion of the record $2.5 billion profit reported by Ford Motor Co. last week.
Renault completes Dacia acquisition
BUCHAREST - Renault has acquired a majority stake in Dacia. Rernault will pay $50 million for a 51 percent stake in the company. The purchase will be completed by a $219 million investment program over five years to revamp Dacia's obsolete plants.