I can tell you why this stock went up
Yes, they recorded the biggest losses in years, but I can see some bright spots..
1. They own 37% of Mazda, I guarantee in the next 2-3 years they will buy out mazda. Mazda's biggest shareholder is Ford, and mazda is one of the most popular cars with people between the ages of 18 to 30.
2. They are launching some new products such as the Edge and the fairlane, which I expect to get good sales
3. Lastly, Ford has 18 billion in cash still, how long till they wipe it out, only God knows but I think you shouldn't count them out. I can see them being completely eliminated in a couple of years, if the Chinese start producing decent trucks.