Ford celebrated the Cortina's 50th anniversary with a banger race but profits are being battered overseas
Ford has reported a 57% fall in second quarter profit to $1bn (£646m) as it continues to suffer heavy losses at its European unit.
It now expects to lose $1bn in Europe this year, up from a previous forecast of $500-600m.
Chief executive Alan Mulally told analysts that Ford was reviewing all aspects of its business in Europe.
The US's second biggest car company also <link> <caption>warned that its full-year profits</caption> <url href="http://corporate.ford.com/our-company/investors/upcoming-investor-events/webcastevent-detail/webcast-20120725a?packedargs=releaseId%3D1244756042633" platform="highweb"/> </link> would be lower than forecast.
The group also said it expected profits in South America to be "substantially lower" this year.
Ford shares remained at two-and-a-half year lows of $9 in early New York trading.
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