Friday, Ford MOtor Co. reported a steep $1.4 Billion loss for this year’s first quarter, compared with a profit a year ago. The posted loss was “justified” by a decrease in sales and unfavourable foreign exchange in light of an “extremely difficult” business environment and slacking global demand for cars.

Friday’s reported loss however, was approximately half of what analysts had predicted pushing stocks up during trading. The company’s sales dropped 37% from $24.8 billion from last year’s $39.2 billion.

The company hasn’t earned an annual profit since 2005. Last year’s $14.7 billion net loss was a record.

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