Firestone tire replacements put Ford into red

DEARBORN, Mich. (July 18)—Costs associated with recalling more than 2.5 million cars and light trucks to replace their Firestone tires dragged Ford Motor Co. $752 million into the red in the second quarter. Ford earlier announced it expected the recall of 13 million Firestone tires would result in after-tax costs of $2.1 billion. Ford's loss in North America, where the bulk of the replacement action is taking place, was $1.14 billion, vs. earnings of $1.84 billion a year ago.