DETROIT, April 24 (Reuters) - Ford Motor Co’s (F.N) chief financial officer said on Friday he expects the automaker’s cash burn rate to be lower through the rest of the year.
Lewis Booth, speaking to reporters after Ford posted a smaller-than-expected first-quarter loss, said he expected the $3.7 billion cash burn rate in the first quarter to be worst for the year.
Booth said he was encouraged by the automaker’s results.
He also said Ford saw a modest improvement in vehicle transaction prices during the quarter and that the automaker expects some improvement in the economic environment in the second half of the year. (Reporting by Poornima Gupta and David Bailey; Editing by Steve Orlofsky)