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Ford expects coronavirus shutdown to cause $600 million quarterly loss
REUTERS ^ | 4/13/2020 | Nick Carey, Rachit Vats

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 ...


TOPICS: Business/Economy
KEYWORDS: chat; dearborn; driverreturnsonfoot; failsonraceday; fastonlyrudownhill; fixorrepairdaily; ford; fordmotor; foundonrefusedump; foundonroaddead; foundonrubbishdump; michigan; notnews
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To: Black Agnes

I responded to the article posted. It proves there is no going back to normal anytime soon. The longer the lockdown the greater the losses.

If you want comments on supply chain post it on its own thread.


21 posted on 04/13/2020 10:40:28 AM PDT by FreedomNotSafety
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To: FreedomNotSafety

For real jobs, it won’t matter if we’re locked down or not.

Ford will lose its ass this year.

Both from supply chain issues and lack of demand.

I know it will come as a shock to you, but most of Ford’s business is OUTside the US.

They’re all still on lockdown.

But yeah, if we ‘open’ the economy, the out of work manufacturing sector can drown their sorrows spending their government checks at the local bar...that’ll make it all better.


22 posted on 04/13/2020 10:42:42 AM PDT by Black Agnes
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To: FreedomNotSafety

But yeah, I hear you.

Flubros will blame the coming depression on the lockdown.

In reality, the coming depression was already baked into the cake.

From the minute the first Chinese port shut down at the end of January.

The loss of the restaurant, bar and hairdresser businesses was already a thing. Perhaps not as fast. But once manufacturing and retail dependent on chinese supply chains got hit, they’d have crashed anyways.

Are we getting any cheap chinese widgets at Port of LA yet?

How about antibiotics? Seen any of those being brought in lately?

Oilfield won’t be coming back this year. Probably next either. Demand from the rest of the world will hurt for a long time.


23 posted on 04/13/2020 10:45:52 AM PDT by Black Agnes
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To: Black Agnes

GM Operating normally. From your link.:

“General Motors identified a potential parts shortage and airlifted supplies for its North American truck production, according to United Auto Workers officials. A company spokesman declined to comment on specifics, but confirmed the plants producing the vehicles are operating normally. “

China is open.

Chicken Freepers still own the economic damage.


24 posted on 04/13/2020 10:49:31 AM PDT by FreedomNotSafety
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To: Black Agnes
"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."

Agreed. However Japan is leading the way out of foreign country dependency. They just passed a stimulus package that will pay all costs for Japanese owned companies that operate in China to relocate back. I believe it also includes tax incentives. I believe the US and other nations will follow suit.

Whether accidental or intentional, the Chi-Coms haves screwed the pooch. No mater what propaganda the Chi-Coms attempt, anything Made In China will be suspect. Although there are many other countries that sell to US consumers at close to same cheap prices, China is looking at a very dim economic future.

BEWARE "MADE IN CHINA" CHECK THE LABELS!

25 posted on 04/13/2020 10:50:34 AM PDT by A Navy Vet (I'm not Islamophobic - I'm Islamonauseous. Also LGBTQxyz nauseous.)
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To: FreedomNotSafety

We’ve heard ‘china open’ for 2 months now.

What do you think airlifting the parts does to their bottom line?

Are they airlifting parts that were stuck in a port or somewhere along the way?

OR, are they airlifting parts recently produced in China?

Notice they don’t say...

I double dog dare you to find a chest freezer.

See if you can get a firm delivery date on one from Lowes or Home Depot.

Last I looked it was sometime mid/late May. And every day the date would slip one more day.


26 posted on 04/13/2020 10:55:05 AM PDT by Black Agnes
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To: MinorityRepublican

Now is the time to buy Ford Stock, $5.15/share.


27 posted on 04/13/2020 10:58:22 AM PDT by Rappini (Compromise has its place. It's called second.)
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To: A Navy Vet

I have a ‘newfangled’ stove that has an electronic control panel. Stove needs a new one of those every cpl of years. It’s about 200 bux. So far, it’s been cheaper to replace that every 2 or 3 years vs a new stove. New stove would also have electronic control panel so the difference, other than the cost delta between panel and new stove, no big gain from new purchase.

These control panels are all MIC.

One of the FIRST things I did when they started closing the ports in China at the end of January was buy a cheap 2 burner hotplate.

IF my stove goes out this summer (it’s about time for that), I can at least cook bacon or make pancakes.

Ditto spare parts for our central A/C. We got a window unit for the bedroom. For a great price, in January, as you can imagine. If our main unit kicks the bucket on Friday night, we don’t have to pay the cpl hundred bux upcharge for the tech to come out on the weekend. AND, if the spare part isn’t available anyways, we at least won’t swelter.

Even if the control panels are made elsewhere, they likely include chips or other bits that ARE MIC.

It’s a total cluster f*ck for manufacturing now.

And not just them, retail.

I’ve got a friend who owned a clothing boutique that sold ‘fast fashion’.

She got in shipments from China every week of the newest and latest stuff.

She closed her doors 2 weeks before we ‘locked down’.

No inventory coming in, and none for the forseeable future either.


28 posted on 04/13/2020 11:01:32 AM PDT by Black Agnes
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To: PTBAA

emoji

Are they banned on FR?


29 posted on 04/13/2020 11:02:01 AM PDT by deport
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To: PTBAA
From my Iphone...👍🐸😎🕺🏻 As someone else mentioned I guess it depends on your platform.
30 posted on 04/13/2020 11:07:33 AM PDT by MotorCityBuck ( Keep the change, you filthy animal! ,)
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To: MinorityRepublican

Maybe they should offer zero interest car loans.


31 posted on 04/13/2020 11:09:25 AM PDT by 1Old Pro
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To: Rappini

No question about it.

They will rebound. It may take several quarters, perhaps longer. And they’ll probably be more proactive in ensuring their supply chains don’t have a single point of failure.

If you’re not looking for fast cash, but want a great deal, this might be a good time to invest.

I don’t think we hit bottom further than we already have.


32 posted on 04/13/2020 11:19:07 AM PDT by Black Agnes
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To: MinorityRepublican

Can it’s stock go any lower? They will be a penny stock.


33 posted on 04/13/2020 11:22:39 AM PDT by Vermont Lt
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To: MinorityRepublican

sell some of the stock they spent billions repurchasing


34 posted on 04/13/2020 11:22:44 AM PDT by wny
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To: MinorityRepublican

Its sales and assembly plants in China, perhaps?


35 posted on 04/13/2020 11:43:48 AM PDT by familyop ("Welcome to Costco. I love you." - -Costco greeter in the movie, "Idiocracy")
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To: Black Agnes
"Even if the control panels are made elsewhere, they likely include chips or other bits that ARE MIC."

I believe you are correct.

"It’s a total cluster f*ck for manufacturing now. And not just them, retail."

Yes it is. However there are a lot of other textile manufacturers around the world that provide clothing. I've always read the labels and look for anything other than MIC. Still, those manufacturers may rely on Chi-Com machines and parts to produce such. They may start looking elsewhere.

You make my point above about Japan's initiatives. Made in China is becoming a bad moniker when you can buy from SK, Indonesia, Malaysia, Taiwan, Mexico, and many others for almost the same price and quality. Once Walmart, Target, Kohls, etc. find new mass suppliers, prices may even drop lower so as to entice the consumer from their quarantine doldrums, providing enough consumers actually have any money.

Of course, there is always the problem of air/ship transport, but with the low cost of oil right now, that could work out.

Watch, the backlash from this is going to open up new opportunities in the US and investment in other nations that you probably wouldn't think of. I believe Pres. Trump is going to lead the way. He already started with his tariffs on Chinese imports to great success. The Chi-Coms capitulated. The bad reputation they have built due to their own lies could take them back to 2nd world.

36 posted on 04/13/2020 11:45:53 AM PDT by A Navy Vet (I'm not Islamophobic - I'm Islamonauseous. Also LGBTQxyz nauseous.)
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To: neverevergiveup

They don’t make cars anymore and people like, Lifetime Ford buyers, moved to other brands.

I don’t want an SUV or Mustang


37 posted on 04/13/2020 12:09:05 PM PDT by Vendome (I've Gotta Be Me https://www.youtu Grow up No one will ever be brought tobe.com/watch?v=BB0ndRzaz2o)
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To: MinorityRepublican

We can sell em to other countries.

They will need them. ie India


38 posted on 04/13/2020 12:11:38 PM PDT by Vendome (I've Gotta Be Me https://www.youtu Grow up No one will ever be brought tobe.com/watch?v=BB0ndRzaz2o)
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To: gibsonguy

Junk cars but they already raped the federal government in 2009. Hope they take it out of executive pay.


39 posted on 04/13/2020 12:21:20 PM PDT by napscoordinator (Trump/Hunter, jr for President/Vice President 2016)
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To: A Navy Vet

The supply chain burp might last a year or more while things get moved, restarted and fiddled with.

A lot of companies will find that the equipment they *thought* they owned in their facilities in china...really isn’t theirs at all anymore.

The question is, do they have cash reserves to build more facilities/equipment elsewhere now?


40 posted on 04/13/2020 12:31:57 PM PDT by Black Agnes
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