DETROIT (Reuters) -- Ford Motor Co. Thursday posted an unexpected second-quarter loss as sales of sport/utility vehicles, its most profitable models, slumped on higher U.S. gasoline prices and it took charges for employee buyouts.
Ford (Charts), which is closing 14 plants and cutting up to 30,000 factory jobs in North America, said it had a second-quarter net loss of $123 million, or 7 cents a share, compared with a profit of $946 million, or 47 cents a share, a year ago.
The loss from continuing operations was 3 cents a share, compared with Wall Street analysts' average expectations for a profit of 14 cents a share, as tracked by Reuters Estimates.
Ford's U.S. vehicle sales fell 7 percent in the second quarter.
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