Posted on 04/13/2020 9:54:38 AM PDT by MinorityRepublican
Ford Motor Co (F.N) said on Monday it expects to post a pre-tax loss of about $600 million for the first quarter as the coronavirus outbreak pummeled its sales and shuttered vehicle assembly plants, resulting in a 21% drop in vehicle sales to dealers versus the same quarter in 2019.
(Excerpt) Read more at reuters.com ...
CNNC and Reuters are going to run out of champagne.
Whoo boy. That’s a big big number. It’s only a small piece of this disaster. Unbelievable that this was allowed to happen.
Ford lost $1.9 billion in the fourth quarter of 2019 - before Covid. Companies should not be allowed to blame everything on Covid.
If they only had a bunch of electric cars ready to sell.......
Yeah, but think how much you can make selling surplus ventilators on eBay...
I’ve got three F-150’s on order for the company I work for. Doing my part.
“If they only had a bunch of electric cars ready to sell.......”
There are times when I wish the Free Republic site allowed one to post a laugh emoji, ‘cause that right there is funny!
peanuts compare to what is coming in the second quarter.
I knew that as soon as they were starting to build more ventilators, by the time that they are ready to be used, we will have no use for them.
How much of this is because supply chain issues from China disrupted production even before we ‘sniffled’ here?
(note date)
“Automakers are scrambling to find parts and prevent shortages in their supply chains as the spread of the coronavirus rattles markets and threatens to roil manufacturing processes globally.
For industries such as automotive, one kink in the supply chain can cause widespread disruption and quickly cost millions or billions in lost production.
The coronavirus already has taken its toll on automotive stocks.
Hard to feel bad for Ford. How about have the dealers reduce the price of their way over priced trucks. My wife graduated high school in NJ in 1991. Her friends father worked at the Ford Edison NJ manufacturing plant. She was a given Ford Probe brand new for her graduation gift. Sticker price 19K +. Her dads Z plan - paid out the door At the dealer for 9K + tax, etc. Sticker prices are a made up number and grossly over inflated.
According the Chicken Freepers everything will be fine, the economy will pick right up, business will adjust, so we just need to ride this thing out until our experts tell us it is safe.
Depending on the platform you’re using to post, they are sometimes available. If I’m using my kindle, I can post emojis.
Until that supply chain issue is fixed, it won’t matter if anyone in CONUS has a virus or not.
No widgets from China? No cars manufactured here.
Over priced compared to what? The big three all have similar prices. And all 3 have import protection. Isn’t that that the agenda? Made in the US by people with high paying jobs? Seems like you should support our companies and our workers.
Ford refused government handouts back in 2009. Gm, Chrysler took them. Tesla takes a hefty subsidy for every vehicle they sell.
Ford Motor annual net income for 2019 was $0.047B, a 98.72% decline from 2018.
Ford Motor annual net income for 2018 was $3.677B, a 52.44% decline from 2017.
C’mon, man!
I notice you skipped over the supply chain article I posted entirely.
Any particular reason why?
Opening the economy won’t have a damned thing to do with restarting those production lines.
Because those cars ‘manufactured in the US’ are in fact only assembled here using parts from elsewhere.
It’s those parts from ‘elsewhere’ that have shut things down.
Until they appear, no cars ‘manufactured’ here.
etc.
I double dog dare you to find a chest freezer.
They’re 60-90% manufactured in the US. They’re sold out due to the panic hoarders. Those electronic bits? MIC. Good luck getting a new one any time soon...
Ditto control panels for stoves, refrigerators and anything else ‘manufactured’ in the US but really assembled here with parts from elsewhere.
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