Ford loses more than 4 billion

Ford has announced losses of more than 4 billion for the past three months but insists it will return to profit without having to apply for US Government aid.

The loss was more than double the deficit posted for the same period in 2007, and underlines the dramatic recent collapse of the car market.

Overall, Ford lost $14.57 billion (about 10.2 billion) during 2008 up from a $2.7 billion (about 1.9 billion) loss in 2007.

Ford said in a statement that it has $24 billion (about 17 billion) in available funds, including $13.4 billion (about 9.5 billion) in cash.