Ford posts $1.4-billion Q1 loss

DEARBORN, Michigan: Ford Motor Co reported a first-quarter loss of $1.4 billion on Friday and said it used less of its cash, emphasizing that it doesn't expect to seek any of the government assistance. The second-largest US automaker said it spent $3.7 billion more than it took in during the first three months of the year, far less than the $7.2 billion it spent in the fourth quarter of 2008.

Chief Financial Officer Lewis Booth said the company is confident that it will slow the drain on its cash even further this year, and he said Ford will make it through 2009 without needing government aid.

AP