PAG: Full-year profit is unlikely.(News)

Automotive News | October 31, 2005 | Copyright

Byline: Amy Wilson

For the second year in a row, Ford Motor Co.'s Premier Automotive Group will be hard-pressed to turn a profit.

Ford's collection of luxury brands lost $146 million before taxes during the first nine months of 2005. PAG posted a pretax loss of $108 million in the third quarter alone.

Ford says the luxury unit will make money during the fourth quarter. But a full-year profit for PAG now seems unlikely.

Credit Suisse First Boston analyst Chris Ceraso expects that PAG's fourth-quarter profit will amount to only $11 million ...

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