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Ford Motor Co. posted its worst quarterly loss ever Thursday in a roiling global auto market that also saw profits fall at Daimler AG, Hyundai Motor Co. and AutoNation Inc. Renault SA reported a profit increase in the first half of the year but still plans to cut jobs and scale back production.

The rising cost of oil and raw materials and the economic slowdown in North America and Western Europe were generally to blame for the automakers' woes. In the U.S., auto sales dropped 10 percent in the first half of the year as consumers were stunned by high gas prices and falling home values. Sales in Europe dropped 8 percent in June and threaten to continue their slide.

"Demand in Western Europe has deteriorated sharply and there are no signs of recovery in the remainder of the year," Standard and Poor's Ratings Services said Thursday as it revised its outlook on Renault to negative.

AutoNation Inc., the largest U.S. auto retailer, said its second-quarter profits tumbled 33 percent to $51.8 million as sales dried up. The Fort Lauderdale, Fla.-based company announced plans to cut 1,300 jobs and sell underperforming dealerships in order to reduce costs by $100 million per year.

AutoNation Chairman and Chief Executive Officer Mike Jackson said the quarter "was the most challenging automotive sales environment any of us have encountered."

But by far the most stunning news came from Dearborn-based Ford, which reported an $8.67 billion loss for the second quarter, surpassing its previous record quarterly loss of $6.7 billion in the first quarter of 1992.

Ford lost $3.88 per share in the April-June quarter, compared with net profit of $750 million, or 31 cents per share, in the same quarter a year ago.

The net loss included $8.03 billion in write-downs because of the sharp decline in U.S. truck and sport utility vehicle sales, which has reduced the value of Ford's North American plants and equipment and Ford Motor Credit Co.'s lease portfolio. Ford's truck and SUV sales fell 18 percent in the first six months of this year.

Even excluding those items, Ford lost 62 cents per share, worse than Wall Street expected. Twelve analysts surveyed by Thomson Financial, on average, expected a 27 cent loss per share. Ford's second-quarter revenue was $38.6 billion, down $5.6 billion from the year-ago period.

Ford said it plans to retool two more North American truck and sport utility vehicle plants to produce small cars and will bring six fuel-efficient small vehicles to North America from Europe by 2012. The company said it will also respond to customers' worries about gas prices by accelerating fuel-saving technologies such as its EcoBoost engine and revamping its North American factories so they can respond more quickly to market conditions.

Ford insisted it has the cash to make the costly changes.

"We have the scale, the expertise and the financing to execute our plan," Ford President and CEO Alan Mulally said in a conference call with investors and media.

But Wall Street was skeptical. Ford shares dropped 92 cents, or 15.3 percent, to $5.11 Thursday.

Daimler, based in Stuttgart, Germany, said its quarterly profits slipped 25 percent to $2.2 billion mainly because of its 19.1 percent share in Chrysler LLC. Chrysler, which is almost wholly dependent on the North American market, has seen sales of its truck-heavy lineup plummet 22 percent in the U.S. so far this year.

Daimler's results indicated that Chrysler LLC lost an estimated $510 million in the first three months of this year. Chrysler has not officially reported earnings since private-equity firm Cerberus Capital Management LP bought an 80.1 percent stake in the U.S. automaker last year, but its effect on Daimler's earnings give a hint at Chrysler's financial situation.

Daimler posted a 6 percent increase in sales to $40 billion and said its revenues should be slightly higher this year than last. But it lowered its full-year earnings forecast by $1 billion to $11 billion, citing the rising cost of raw materials, the strong euro and a slowing global economy.

Daimler's U.S. shares dropped $8.10, or 12.2 percent, to $58.54.

Hyundai said its second-quarter profit fell 11 percent to $542.1 million despite a 12.8 percent increase in revenue to $9.03 billion. The weakening Korean won was partly to blame, the Seoul, South Korea-based automaker said. Hyundai also said it was stung by the higher price of oil and raw materials and said it planned to cut costs and continue an aggressive overseas expansion plan.

Renault reported a 37 percent increase in profit to $2.2 billion for the first half, reflecting cost-cutting measures, lower warranty costs and strength in some regions, including France. Revenues increased 2.3 percent to $32.96 billion.

But the Paris-based company said it is anticipating a big drop in European car sales and is talking to its unions about cutting 5,000 jobs by 2010. Renault also said it will raise prices, cut research spending and postpone some projects in order to deal with rising oil prices, currency fluctuations and the growing financial crisis, which has increased borrowing costs.

"The deterioration in the macroeconomic environment has far exceeded the worst-case scenarios envisaged" when Renault a turnaround plan in 2006, the company said in a statement.